SP Setia acquires land in Australia with GDV of A$34 million

SP Setia acquires land in Australia with GDV of A$34 million

KUALA LUMPUR, Nov 16 — SP Setia Bhd has acquired its third piece of land in Melbourne, Australia with an estimated gross development value of A$34 million (1A$= RM3.12).

The land, worth A$6.68 million is located at Neerim Road, Carnegie, just 11 kilometres southeast of the Melbourne Central Business District, SP Setia said in a statement.

Acting president and Chief Executive Officer, Datuk Khor Chap Jen, said this was SP Setia’s third project in Australia albeit a small one when compared to Fulton Lane and Parque, the first two developments in Melbourne which were both 100% sold.

— BERNAMA

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