PETALING JAYA: BCB Bhd
has signed the sales and purchase agreement to acquire four pieces of freehold vacant land in Kluang, Johor, measuring 22.14 ha from Country Green Realty Sdn Bhd for RM31mil.
The pieces of land will add to its inventory and it is planning a property development on the parcels of land which consists of a mixed-use project featuring both residential units and retail shops.
“This development is forecast to yield an estimated gross development values of approximately RM245mil upon full completion. Anticipated to commence in the financial year 2027, the initial launch is projected to span over a five-year development period,” it said.
The acquisition will be funded by a combination of internally generated funds and bank borrowings, the company said. It is not expected to have a material impact on the group’s earnings for the financial year ended June 30, 2025, it added.
