Crescendo in RM72mil Johor land buy

PETALING JAYA: Crescendo Corp Bhd (CCB) is proposing to acquire two plots of freehold vacant land totalling 3.27 acres in Johor Baru from Bewell Realty Sdn Bhd for RM72mil.

In a filing with Bursa Malaysia, CCB said the first plot had been approved for the development of 1,090 units of serviced apartments with a gross development value of approximately RM726mil.

“The acquisition is in the best interest of the CCB group as the land is located at a strategic location, which is in Johor Baru City Centre and not far from the Johor Baru-Singapore Rapid Transit System terminal,” it said.