PETALING JAYA: Pegasus Heights Bhd
plans to acquire a 3.275-hectare freehold vacant land in Port Dickson, Negeri Sembilan, for RM6.35mil as part of its strategy to expand its landbank and strengthen its property development portfolio.
In a filing with Bursa Malaysia on Tuesday, the group said its wholly owned subsidiary, Pegasus Heights Development Sdn Bhd, had entered into a sale and purchase agreement with eight vendors for the acquisition of Lot No. 4092 in Mukim Si Rusa.
The property, which is free from encumbrances, is intended for future development. Pegasus Heights said the purchase consideration was arrived at on a willing buyer-willing seller basis after considering the transacted price range of similar properties within a 10km radius.
The acquisition will be funded through bank borrowings, with a 10% deposit of RM634,532.50 paid upon execution of the agreement.
Pegasus Heights said the proposed acquisition is expected to enhance the group’s long-term earnings potential by providing an additional revenue stream once the land is developed.
The company expects the acquisition to be completed by the fourth quarter of 2026.
