KUALA LUMPUR, Nov 29 ― MB World Group Bhd through its wholly-owned subsidiary, MB Max Sdn Bhd (MBM), is acquiring land comprising 252 parcels of freehold residential terrace plots in Johor from Shiya Sdn Bhd for RM8.15 million.

The plots, designed for Courtyard 2 terrace type affordable housing, are located along Jalan Persisiran Pulai Perdana 1 within Taman Sri Pulai Perdana, Johor Baru, Johor, it said in a filing to Bursa Malaysia today.

The acquisition will allow MBM to continue and maintain its property development activities.

The land is strategically located and has easy accessibility and connectivity via major highways.

Its strategic location, surrounded by mature amenities and facilities, as well as the rapid development experienced by its surrounding areas due to population growth and ongoing new commercial and residential development, is expected to generate greater returns over the medium and longer term. ― Bernama