UM Land Proposes To Buy Land in Bangsar
Developer United Malayan Land United Malayan Land Bhd has proposed to purchase a piece of land in Bangsar ia their property arm UM Development Sdn Bhd. The parcel of land, slightly less than an acre in size, will be acquired from Vista Genesis Panel Sdn Bhd for RM24 million cash.
In a report,
UM Land told Bursa Malaysia on Jan 22 that it proposed to develop 191 units of condominium with a gross development value of about RM99 million. It said the gross development cost was estimated at RM73 million, thus yielding a gross profit of RM25 million. The proposed development is expected to commence in 2007 with an estimated development period of three years.
