FAJARBARU BUY­ING LAND IN AUS­TRALIA FOR RM84M

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: FajarBaru Builder Group Bhd’s 44.44%-owned as­so­ciate 320 Queen Street Project Pty Ltd (320-Q) is ac­quir­ing a piece of land mea­sur­ing 676 sq m in Aus­tralia for A$25.6 mil­lion (RM84.13 mil­lion). In a fil­ing with the stock ex­change, the con­struc­tion and prop­erty firm said the ac­qui­si­tion is in line with its ob­jec­tive to ac­quire and add po­ten­tial land­bank into its prop­erty de­vel­op­ment divi­sion. “The prop­er­ties de­vel­op­ment to be un­der­taken on the said land is ex­pected to pro­vide FajarBaru with a new source of in­come,” it noted. A plan­ning per­mit has been is­sued for the con­struc­tion of a 48-level res­i­den­tial tower on the land from Oct 29, 2017 to Oct 29, 2020.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.