YNH unit to buy land for super condominium

By THE EDGE

YNH Property Bhd’s unit Kar Sin Bhd has entered into a memorandum of understanding (MoU) with Suasa Sentosa Sdn Bhd to purchase from the latter a 1.08ha parcel of land in Mont’Kiara, Kuala Lumpur for the development of super condominium.

YNH told Bursa Malaysia on May 3 that the planned super condominium would have a built-up area of more than 3,000 square feet per unit, with the minimum selling price of RM2 million per unit.

It said the estimated gross development value of the project was RM300 million, and that it intended to launch the project in the second half of the year, upon completion of the land acquistion.

It added that the price of the land would be determined later.

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