KUALA LUMPUR, Oct 31 — Selangor Dredging Bhd’s (SDB) wholly owned subsidiary Prestij Permai Sdn Bhd has entered into a sale and purchase agreement with Xtra Touch Sdn Bhd to acquire vacant leasehold land together with completed earthworks located in Sepang, Selangor for RM87.9 million.
In a filing with Bursa Malaysia today, the group said the 11.81ha have development potential and is part of the group’s ongoing identification of suitable properties to add to its land bank.
“The land is located within Taman Putra Perdana and is accessible from the main road of Jalan Putra Perdana.
“It is within close proximity to major highways such as SKVE, ELITE, MEX and Putra Link. The site is facing a lake,” the filing said.
SDB said Prestij Permai has proposed to develop 550 units of two- and three-storey terraced houses on the land with a gross development value of about RM609 million, the filing said.
The acquisition is expected to be completed by end-2024.
— Bernama
