Wednesday, December 21, 2011

Aeon buys 7.37ha lands in Kulai for RM22.22m for shopping centre

Larger Smaller Reset KUALA LUMPUR (Dec 21): Aeon Co (M) Bhd is acquiring two pieces of freehold land in Kulai for RM22.22 million as part of its strategy to expand its retail business.

It said on Wednesday that it had entered into a sale and purchase agreement with Genting Property Sdn Bhd to acquire the freehold lands measuring a total 7.37ha for the purpose of operating a business of shopping centre with car parks and departmental stores cum supermarket.

'The acquisition is in line with Aeon's corporate strategy of accelerating the expansion of its retail business through opening of new shopping centres and outlets.

'The acquisition is expected to contribute positively to Aeon's business in future,' it said.

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