KUALA LUMPUR, Nov 13 — BCB Bhd’s wholly owned subsidiary, Banang Central Development Sdn Bhd, has entered into a sale and purchase agreement with Indah Corporation Bhd to acquire a freehold parcel in Batu Pahat, Johor for RM36.17 million.
In a Bursa Malaysia filing today, BCB said the 21-hectare (52-acre) site is currently used as a golf course.
BCB said the proposed development has a preliminary estimated gross development value of RM500 million, subject to further planning and assessment.
“Upon completion of the acquisition, BCB intends to explore development opportunities as part of its future property development plans, subject to approvals from the relevant authorities,” the filing said.
The acquisition aligns with its long-term strategy to expand its land bank and sustain its pipeline of property development projects, BCB said.
The land’s location and development potential allow the group to expand its property development activities in Johor and strengthen its presence in the local market.
BCB said the acquisition will be funded through internally generated funds and bank financing. — Bernama
