Lagenda Properties' Subsidiary Enters RM85m Development Rights Agreement for Johor Land Development
Lagenda Properties' Subsidiary Enters RM85m Development Rights Agreement for Johor Land Development
Lagenda Properties Berhad's subsidiary, Opti Vega Sdn Bhd (OVSB), has entered into a development rights agreement (DRA) with Intact Corporate Approach Sdn Bhd (ICA) to undertake the development of a land in Mukim Ulu Sungai Selangor, Johor, measuring approximately 112.024 acres.
Lagenda Properties Berhad的子公司Opti Vega Sdn Bhd（OVSB）已与Intact Corporate Approach Sdn Bhd（ICA）签订了开发权协议（DRA），在柔佛州雪兰莪州穆基姆·乌鲁双溪开发一块占地约112.024英亩。
The total cash consideration for the DRA is RM85.38 million.
DRA的总现金对价为8,538万令吉。
The land is strategically located near Kulai and is planned for a mixed development of landed residential and commercial units with an estimated gross development value of RM576 million.
该土地地理位置优越，靠近古来，计划对有地住宅和商业单元进行混合开发，估计总开发价值为 RM576 百万加元。
Additionally, OVSB has been granted an exclusive option for the future development, covering 138.99 acres, with a fixed consideration of RM99.62 million.
此外，OVSB已获得未来开发的独家选择权，占地138.99英亩，固定对价为9962万令吉。
The developer aims to launch the future development immediately or within a short period upon exercising the option.
开发商的目标是立即或在行使期权后的短时间内启动未来的开发。
The proposed DRA aligns with Lagenda Properties' strategic plan to leverage its strengths in property development and construction, providing a quick turnaround and competitive pricing strategy.
拟议的DRA符合Lagenda Properties的战略计划，旨在利用其在房地产开发和建设方面的优势，提供快速的周转和有竞争力的定价策略。
The board expects the proposed DRA to be completed in 2024, subject to fulfilling all conditions precedent.
董事会预计，拟议的DRA将在2024年完成，前提是满足所有先决条件。