Tiara Best Sdn Bhd, a subsidiary of Engtex Properties Sdn Bhd, has acquired two parcels of leasehold land, via public auction for RM31 million.
The land parcels have a combined area of 72.8 ha and are sited in Puncak Alam, Kuala Selangor.
Engtex Group Bhd noted that Tiara Best intends to convert the properties from agricultural into industrial land. It will then be developed into an integrated industrial park with an approximate gross development value (GDV) of RM166 million.
Subject to the approval of authorities, Tiara Best is expected to sell industrial lots within the industrial park.
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October 2011 Property News
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