KUALA LUMPUR, April 29 — Malaysian property developer SP Setia Bhd has acquired its fifth piece of land in the Melbourne central business district, on 308 Exhibition Street, for A$101 million (RM299.3 million).
In a statement today, the developer said it acquired the 4,140 sq m site in a highly competitive international expression of interest bidding exercise with Telstra, Australia’s leading telecommunications company.
“This is a golden opportunity for SP Setia to deliver another development par excellence in Melbourne, the world’s most liveable city for the fifth year in a row,” SP Setia said.
The acquisition follows SP Setia’s announcement two weeks ago of its acquiring another prime Melbourne asset in Prahran. — Bernama
