PETALING JAYA: Paragon Globe Bhd
(PGB) is proposing to acquire undivided beneficial interests representing approximately 195.6 acres within a 256.7 acres freehold master land in Sedenak, Kulai, Johor for RM127.28mil.
In a filing with Bursa Malaysia, the property developer said the proposed transaction will be undertaken by its wholly-owned subsidiary, PGB Gardens Sdn Bhd.
PGB Gardens had entered into 29 conditional sale and purchase agreements with 35 beneficial owners of the relevant interests.
PGB said it intends to transform the land areas attributable to its interests into a high-yield industrial park comprising factory units, commercial components, and a workers’ hostel, with the project targeting GreenRE Gold certification as part of its commitment to sustainable development.
