Kerjaya Prospek Property Bhd’s wholly-owned subsidiary, Pixel Valley Sdn Bhd (PVSB), is acquiring a 1.97 hectares freehold land from Aspen Vision City Sdn Bhd (AVC) in Penang for RM27.57 million.
In a filing with Bursa Malaysia today, it said PVSB has entered into a purchase and development agreement with AVC following the proposed acquisition.
It said the proposed acquisition would enable Kerjaya Prospek Property to focus on its core business of property development as well as expand and strengthen its landbank size.
“It is strategically located at Bandar Cassia, Batu Kawan, Penang. The proposed development of the property is a mixed development comprising serviced apartments and some commercial/retail lots,” it said.
It added that barring any unforeseen circumstances, the proposed acquisition is expected to be completed within 90 days from the unconditional date, which is expected to be completed by July 2022.
Source: Bernama
