KUALA LUMPUR: SUNWAY CITY BHD [] plans to undertake residential projects on Penang island with an estimated gross development value of RM800 million.
It said on Monday, Sept 27 its unit, Sunway City (Penang) Sdn Bhd (SCPSB), had entered into a sale and purchase agreement with Sungei Ara Holdings Sdn Bhd (SAHSB) to acquire a piece of freehold land in the southwest of Penang.
SunCity said the land, measuring 81 acres, will be acquired for RM38.765 million for the purpose of residential development.'' When fully developed, the proposed acquisition will provide SunCity with an estimated GDV of RM800 million.
It said on Monday, Sept 27 its unit, Sunway City (Penang) Sdn Bhd (SCPSB), had entered into a sale and purchase agreement with Sungei Ara Holdings Sdn Bhd (SAHSB) to acquire a piece of freehold land in the southwest of Penang.
SunCity said the land, measuring 81 acres, will be acquired for RM38.765 million for the purpose of residential development.'' When fully developed, the proposed acquisition will provide SunCity with an estimated GDV of RM800 million.
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