PETALING JAYA: Sunway Bhd plans to develop 16.99 acres next to Western
Digital in the Sungai Way Free Trade Zone, Petaling Jaya, into service
apartments and retail shops with a total gross development value of
RM1.8bil.
Sunway bought the various parcels of land on Monday via indirect unit Sunway
Dimension Stones Sdn Bhd for RM286mil. The land is close to Sunway’s flagship
development is boosting its land bank close to its flagship development Sunway
township by buying 16.99 acres worth RM286mil.
“The first launch is expected to be in financial year 2016 over a development
period of approximately five years,” the company said.
Sunway Dimension will buy the land through bank borrowings and/or internally
generated funds. Sunway expects the acquisition to be completed by the second
half of the year.
On the prospects, it said: “Properties in Petaling Jaya are welcomed due to scarcity of land and continuous population growth. Petaling Jaya, being one of the most developed areas in terms of population and economy, has long been an area of focus by Sunway.
“Sunway is confident that the project will receive positive response when it is launched.”
On the prospects, it said: “Properties in Petaling Jaya are welcomed due to scarcity of land and continuous population growth. Petaling Jaya, being one of the most developed areas in terms of population and economy, has long been an area of focus by Sunway.
“Sunway is confident that the project will receive positive response when it is launched.”
For more information on
Building and Construction event, please visit www.asiapacificevents.com
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