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Kerjaya Prospek Properties Berhad Acquires Five Plots of Land for RM13 million to Strengthen Landbank Size

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GSB Properties Sdn Bhd (GSBP), a wholly-owned subsidiary of Kerjaya Prospek Properties Berhad (Kerjaya) entered into a Sale and Purchase Agreement (SPA) to acquire five plots of land in the Mukim Petaling area of Kuala Lumpur for a total consideration of RM13,030,425.00.

The leasehold lands sized 804 sq m, 845 sq m, 768.877 sq m, 808 sq m and 809.344 sq m respectively, totals approximately 0.997 acres. According to the company’s filing to Bursa Malaysia, the acquisition of these lands, which are located near Kerjaya’s Bloomsvale development in Jalan Klang Lama, will be intended for development to complement the company’s already existing Bloomsvale project.

Kerjaya stated that the proposed acquisition will enable Kerjaya to focus on its core business of property development and to expand and strengthen its landbank size.

“The lands will serve as landbank for GSBP’s property development activities. It is strategically located along Jalan Puchong/Jalan Klang Lama and easily accessible from Kuala Lumpur via Jalan Syed Putra, Jalan Klang Lama, and Jalan Puchong and is nearby the Bloomsvale project. The Bloomsvale project has received an encouraging response since its launch in May 2019. However, the exact use of the lands has not been determined at this juncture. The Company will make the appropriate announcement(s) in due course pursuant to the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (Bursa) if required.”

Kerjaya Prospek Property Group (KPPG) was established in 2009 by Datuk Tee Eng Ho, the Executive Chairman of Kerjaya Prospek Group Berhad (formerly known as Fututech Berhad, a construction group that listed on Bursa Malaysia in 1996). KPPG has more than 20 years’ construction experience in the high-end property development segment with clients ranging from EcoWorld, E&O, SP Setia, IOI Group, AP Land, UM Land, MRCB, BCB, Belle View Group, and ECH Development Sdn Bhd. It’s property development projects include 222 Residency, 288 Residency and 100 Residency in Setapak, Viridian at Cheras Idaman, Residency V at Jalan Klang Lama, The Shore in Melaka, Vista Residences in Genting Highlands and Kaleidoscope at Setiawangsa.

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