PETALING JAYA: Land and General Bhd
(L&G) is disposing of six parcels of freehold land measuring 138.17 acres in Pekan Sungai Gadut, Negri Sembilan to Lagenda Properties Bhd for RM60.19mil.
In a filing with Bursa Malaysia, L&G said the parcels are vacant, not in use, and are only expected to be developed upon completion of phase one of the Sena Parc land development.
L&G said phase 1A and 1C of the said development have been completed and 99% sold out, while phase 1D (terrace houses) and 1E (affordable single-storey terrace houses) are currently in the development stage.
In a separate statement, Lagenda said the proposed acquisition provides the group with an opportunity to establish its presence in Negri Sembilan, making it the sixth state in its nationwide expansion.
L&G said the sale of the land is expected to unlock the value of its assets.
