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Meda Buys Land For RM180 Million
By:
  • Property developer Meda is buying two parcels of freehold land in Kuala Lumpur from BCM Holdings for RM180 million.
  • The company plans to build serviced apartments and commerical property with an estimated gross development value (GDV) of RM881.9 million.
  • The gross development cost of the project was estimated at RM705.5 million. It is expected to make a profit of RM176.4 million from the development.

Significance: The project is scheduled to start in 4Q15 and be completed in four years. The proposed acquisition represents a timely and unique opportunity for Meda to acquire landbank in the Klang Valley, aside from strengthening its position as a developer in the area.


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