PETALING JAYA: KSL Holdings Bhd is acquiring 183.3323 acres of freehold land in Pulai, Johor from Tropicana Firstwide Sdn Bhd, Tropicana Rhythm Crest Sdn Bhd and Tropicana Desa Mentari Sdn Bhd for RM211.58mil.
In a filing with Bursa Malaysia, KSL said the proposed acquisition will enlarge the current land bank of the group to enhance future revenue and earnings.”
KSL said the said lands will be used for residential development project and further enhance its presence in the property market in Johor.
“Once the proposed acquisition is completed, the land bank of KSL Group will be approximately 2,600 acres located in Segamat, Batu Pahat, Muar, Mersing, Johor Baru, Klang and Selangor.
“Out of the total land bank, approximately 50% of the land bank are in the various stages of approval and approximately another 25% are under various stages of development.”