Spreading its wings outside Sarawak

Neat homes: An artist’s impression of terraced residential units at Ibraco’s Tabuan Tranquility development.

KUCHING: Ibraco Bhd will venture into property development in Kuala Lumpur with the purchase of a piece of prime land for RM55mil.

The city’s top property developer entered into a sale and purchase (S&P) agreement on March 26 with Bandar Park Sdn Bhd to acquire the 5,825 sq m freehold vacant land which is fronting onto Jalan Tun Razak and Jalan Yew. The acquisition is expected to be completed within 90 days.