fbpx

Jetson acquires three tracts in Penang for RM14m

January 18th, 2011 Leave a comment

KUALA LUMPUR: Kumpulan Jetson Bhd, through its 51%-owned subsidiary Jetson Development Sdn Bhd, has acquired three tracts in Penang from Malaysia Building Society Bhd for RM14 million, according to its statement on Bursa on Jan 18.

The three separate tracts – measuring 21,671 sq ft, 23,277 sq ft and 3,346 sq ft – are all situated in George Town.

The company said that there are plans for high-end property development with an estimated gross development value (GDV) of approximately RM93 million. The acquisition is in line with the company’s strategy in focusing on boutique developments.

“Penang’s property market is second to Kuala Lumpur and has shown substantial excitement in this industry. The property outlooks remains vibrant despite signals of slowing down in other sector and high-end properties market is more resilient to softening market condition,” the statement said.

The company believes the strategic location of the properties, with proposed innovative design and concept, offering exclusivity will appeal to both local and international prospective purchasers.

SOURCE: The Edge Property

Categories: Property News Tags:
  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.


Related Properties for Sale/Rent @
Advertise your property at PenangPropertySale.com and it will be shown here. (Only listing with photo)

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)