Hua Yang buys 1.53ha in Perak

New Straits Times - - Business -

KUALA LUMPUR: As part of its strat­egy to ex­pand its pres­ence in Perak, prop­erty de­vel­oper Hua Yang Bhd has re­cently en­tered into a sale and pur­chase agree­ment (SPA) with Bumi Se­marak De­vel­op­ment Sdn Bhd to ac­quire a par­cel of land in Ban­dar Meru Raya, Perak.

The land, mea­sur­ing ap­prox­i­mately 1.53ha, will be ac­quired for RM15.3 mil­lion.

The land will be used to de­velop 720 apart­ment units and 72 units of com­mer­cial shoplots.

Hua Yang chief ex­ec­u­tive of­fi­cer Ho Wen Yan said the com­ple­tion of the ac­qui­si­tion would en­able the com­pany to tap into the fast-de­vel­op­ing Ban­dar Meru Raya.

“We plan to lever­age on our ex­per­tise, ex­pe­ri­ence and pos­i­tive track record to of­fer qual­ity and af­ford­able homes to the ex­pand­ing pop­u­la­tion in this dy­namic eco­nomic area,” he said in a state­ment.

The gross de­vel­op­ment value (GDV) for the pro­posed project is es­ti­mated at RM295.1 mil­lion.

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