KSL acquires Johor land for RM212mil

PETALING JAYA: KSL Holdings Bhd is acquiring 183.33 acres of freehold land in Pulai, Johor from Tropicana Firstwide Sdn Bhd, Tropicana Rhythm Crest Sdn Bhd and Tropicana Desa Mentari Sdn Bhd for RM211.58mil.

In a filing with Bursa Malaysia, KSL said the proposed acquisition will enlarge the current land bank of the group to enhance future revenue and earnings.

KSL said the land will be used for residential development project and to further enhance its presence in the property market in Johor. Its land bank will rise to 2,600 acres post-acquisition.