Magna Prima unit to acquire land for RM43 million

Magna Prima unit to acquire land for RM43 million

KUALA LUMPUR, June 9 — Magna Prima Bhd’s unit, Magna City Shah Alam Sdn Bhd, will acquire land in Bandar Shah Alam from Regalia Raintree for RM43 million.

In a filing to Bursa Malaysia Thursday, Magna Prima said the land would be developed into a residential development, comprising 315 units of three blocks of 15-storey residential apartments and five shop offices.

“Barring any unforeseen circumstances, the proposed acquisition is expected to be completed within the third quarter of 2016,” it added.

— BERNAMA

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