ASX-listed United Overseas has bought a condominium development in Kuala Lumpur City area.
The parcel of land located in Sri Petaling has an area of approximately 26,000 sqm. The site has been purchased for $AU12.8 million.
The site has approval for the development of 542 luxury condominium units.
The project will have a gross development value upon completion of $AU70 million.
Construction is expected to commence prior to the end of this year and will take approximately 24 months to finish.
Australian Property Journal
