Ecofirst in RM35mil land buy

PETALING JAYA: Ecofirst Consolidated Bhd (ECB) is proposing to acquire a piece of freehold land in Hulu Langat, Selangor from Soils and Foundations Sdn Bhd for RM35mil.

In a filing with Bursa Malaysia, ECB said the acquisition will allow the group to have a bridged project in the size of an estimated total gross development value of RM380.9mil, to be launched by the first quarter of 2025 (commercial units) and the second quarter of 2025 (residential units).

“The expected surplus yields from the proposed development of the land shall enhance the liquidity and vicinity of ECB group and therefore strengthening value creation to the shareholders,” it said.