PETALING JAYA: UOA Development Bhd has bought six parcels of land or 11.1 acres at Jalan Ipoh in Kuala Lumpur for RM130.3mil, with plans for an integrated mixed development. With the acquisition, the company said in a filing that it would collectively own approximately 28 acres of prime land in the said location, and was expected to commence development of the land next year.
However, development cost for the project have yet to be ascertained, pending the finalisation of detailed development plans.
It said the development will be highly accessible via major highways such as Duta-Ulu Klang Expressway (Duke) and Jalan Kuching.
In addition, it said the location was surrounded by densely populated residential areas such as Taman Kok Lian, Taman Impian, Taman Sri Kuching and Taman Rainbow.
The company said the transaction was done via its unit Tiarawoods Sdn Bhd with vendor Ng Kim Khin@Ng Beh Leow.
The land totalling 483,322 square feet is free from encumbrances except for some tenants who are currently occupying Lot 950 and Lot 4052.
To deliver the land to UOA, Tiarawoods will eject the squatters on Lot 950 and terminate a use of way.
Source The Star, June 27, 2013
No comments:
Post a Comment