CADANGAN LANDSKAP BAGI CADANGAN PEMBANGUNAN PERNIAGAAN: (1) 4 BLOK PANGSAPURI SERVIS 35 TINGKAT (744 UNIT) DI ATAS 4 TINGKAT PODIUM YANG MENGANDUNGI SOHO (62 UNIT), KEDAI, KEMUDAHAN REKREASI DAN TEMPAT LETAK KERETA (2)1 BLOK TEMPAT LETAK KERETA 7 TINGKAT DAN KEMUDAHAN DI TINGKAT ATAS DI ATAS LOT 212 DAN LOT 213, PERSIARAN TROPICANA, PJU 3, MUKIM DAMANSARA, DAERAH PETALING, SELANGOR DARUL EHSAN UNTUK TETUAN MAYFAIR VENTURES SDN BHD


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Mulpha Land to develop RM700mil service apartments in Tropicana
The StarProperty | June 6, 2013 | 327 Views | Topic : Property News.
http://www.starproperty.my/index.php/artic...s-in-tropicana/

The project site fronts Tropicana Golf and Country Club.

KUALA LUMPUR: Mulpha Land Bhd’s unit Mayfair Ventures Sdn Bhd has acquired two adjacent parcels of leasehold land for RM116.1mil cash to develop into a mixed commercial development with a gross development value (GDV) of about RM700mil.

In a filing with Bursa Malaysia, Mulpha Land said Mayfair acquired the land measuring 6.41 acres from Tropicana Gold & Country Resort Bhd, a wholly-owned subsidiary of Tropicana Corp Bhd. “Upon completion of the proposed acquisition, Mayfair Ventures intends to develop the land for mainly service residences,” Mulpha Land said.

“The lands are situated on Persiaran Tropicana fronting the Tropicana Golf & Country Club. The immediate surrounding area of the lands consists of a golf course, matured residential dwellings and commercial developments.”

The sale and purchase agreement is targeted for completion in the 4th quarter of 2013, and is expected to generate a net gain of RM87.0 million for Tropicana Group, said Tropicana in a release.

Tropicana Group CEO Dato’ Yau Kok Seng, said, “We are extremely pleased to announce this sale. The pricing of approximately RM416 per square foot is a fair level for us to crystallise the value of these land parcels. This transaction is in line with Tropicana’s strategy to unlock the significant value of our Group’s landbank, and to further degear our balance sheet.”

This post has been edited by accetera: Sep 15 2022, 12:55 PM