MUI ProperƟes Berhad has entered into a transaction agreement to dispose of 389.7 acres of industrial land to Gamuda group for RM 424.4 million.
The land, located in Springhill Industrial Park, Bandar Springhill, is acquired by Gamuda for its High Tech Digital Infrastructure Hub. MUI Properties executive chairman and chief executive officer Andrew Khoo who is also the chairman and chief execuƟve officer of the MUI group, said:
"With this transaction, MUIP has made a major step forward in the group's ongoing initiative to monetise its land bank and investment properties
The sale proceeds will, amongst others, enable us to expand our portfolio of new land banks for further growth and long term sustainability."
Bandar Springhill, strategically straddles the north south highway and is within half hour travel to Seremban and KLIA, is sited within Malaysia Vision Valley 2.0 and is planned to elevate the country's progress in digitalisation and High Tech Digital Infrastructure development.
The sale MUI said is expected to establish Springhill as a hub for High Tech Digital infrastructure and complementary developments. It will also mark a new chapter for the town in enhancing property values and energising commercial and retail activities
