KUALA LUMPUR: Mulpha International Bhd
's Australian sub-subsidiary Mulpha Marymount Pty Ltd has proposed to acquire a site known as Marymount Mercy Centre from the Trustee of the Sisters of Mercy (Parramatta) in New South Wales for A$68.09mil (RM196.78mil) cash.
The group the purchase consideration will include an additional A$5.7mil goods and services tax payable by the vendor under the margin scheme.
In a stock exchange filing, the group said Mulpha Marymount, which is a subsidiary of Mulpha Australia Ltd, in turn a wholly-owned subsidiary of Mulpha, had signed a sales and purchase of land contract for the 6.463 acres of freehold land, located in the eastern part of Castle Hill in New South Wales.
According to Mulpha, its unit intends to develop the land into 63 residential land lots with a total development cost of about A$100mil.
The works on the site are expected to begin in September 2025, and be completed in mid-2026, with settlement of the residential lots thereafter in 2027.
The gross development value of the project is expected to be about A$150mil
