QUOTE(kh8668 @ Jul 15 2011, 07:44 AM)
Somwhere around desa residence if not mistaken.KUALA LUMPUR: UOA Development Bhd, which listed on the Main Market of Bursa Malaysia on Wednesday, June 8, is acquiring two parcels of freehold land in Sri Petaling for RM50 million for a proposed high-rise residential development.
In a filing on Tuesday, UOA Development said its wholly-owned unit Magna Tiara Development Sdn Bhd had entered into a conditional sales and purchase agreement with Sim Nam Housing Development Co Sdn Bhd to acquire two parcels of land measuring 4.86 acres (1.97ha) in total.
UOA Development said the acquisition would be financed by cash from internally generated funds.
The company said the acquisition was in line with its strategy to further grow its development activities within Klang Valley.
"The land is strategically located about 15km from Kuala Lumpur City Centre, within the matured suburbs of Sri Petaling, Kuala Lumpur, which is a densely populated residential area highly accessible via major highways such as New Pantai Expressway, North South Highway and Kesas Highway.
UOA Development is proposing to develop the land into high- rise residential and has plans to commence in the fourth quarter of 2011.
Jul 15 2011, 08:50 AM

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