fbpx

Plenitude acquires 20 parcels of land in Penang

Property News/ 27 September 2010 Leave a comment

KUALA LUMPUR: Plenitude Bhd is acquiring 20 parcels of freehold land in Balik Pulau, Penang, measuring about 56.63 acres for RM40.12 million (RM17.50 psf) to be developed as a mixed development.

Plenitude, via its wholly owned subsidiary, Plenitude Estates Sdn Bhd entered into two separate sales and purchase agreements with United Formula Sdn Bhd and Affluent Base Sdn Bhd on Monday, Sept 27.

The proposed strategic acquisition allows the company to establish a greater presence in Penang island and to replicate the success of its first development project on the island, the company said.

The proposed development will comprise double-storey and super-link houses and a neighborhood commercial centre consisting of 2- to 3-storey shops. The project has an estimated gross development value of RM230 million.

Construction is expected to start in the first half of 2012 and it will be developed over a span of five years.

SOURCE: The Edge Property

Tags:
RELATED PROPERTIES FOR SALE/RENT AT
  1. No comments yet.
  1. No trackbacks yet.
(You can also Login/Register to submit your comment using unique ID)


Comment Guidelines
  • Avoid political discussion.
  • Comments with inappropriate wordings or personal attack may be moderated or deleted.
  • Developer must register before comment. All anonymous comments claimed to be from developer without registration will be deleted.
  • All advertisement in the comment will be deleted. Please contact us for advertising details.



To advertise your property in this page under "Related Properties for Sale/Rent":
 1. Submit your property at PenangPropertySale.com, it's FREE!
 (Please do not advertise your property in the comment)