F&N sells project to Star Residence

Posted on | April 23, 2010

By BUSINESS TIMES


FRASER & Neave Holdings Bhd plans to sell its “Ampang Hilir 233” project on Jalan Ampang, Kuala Lumpur, to Star Residence Sdn Bhd for RM53.8 million.

F&N, via its unit Elsinburg Holdings Sdn Bhd, yesterday entered into a sale and purchase agreement with Star Residence for the 1.44-acre 0.58ha development, which comes with approved building plans for two blocks of serviced apartments, signature offices and retail outlets.

Upon completion of the proposed disposal in the second half of the financial year ending September 30 2010, the F&N group is expected to derive a gain of RM21.98 million.

- Property News in Malaysia

You might also like

Seri Ampang Hilir | Luxury, Laughter, Life Seri Ampang Hilir | Luxury, Laughter, Life. Developed by Tan & Tan Development Berhad. 7 exclusive...

Mah Sing buys land for RM53mil By THE STARPETALING JAYA: Mah Sing Group Bhd has acquired a 058ha plot of freehold commercial land in...

Seri Ampang Hilir Luxury Penthouse for sale Seri Ampang Hilir Luxury Penthouse for sale. Luxury, Laughter, Life. Welcome to the world of Seri...

Tan & Tan: Niche marts will still attract buyers By BUSINESS TIMESProperty developer Tan & Tan Development Bhd says demand for residential properties,...