By THE EDGE
PETALING JAYA: Rashid Hussain Berhad (RHB) is disposing of its remaining properties within the Bandar Wawasan development project to Quill Retail Malls Sdn Bhd (QRM) for RM430 million.
RHB said yesterday its unit, Vision City (Malaysia) Sdn Bhd (VCSB) had entered into a conditional sale and purchase agreement with QRM to dispose of the properties located along Jalan Sultan Ismail in Kuala Lumpur.
“With the sale of the remaining properties, VCSB had successfully disposed of all properties under the Bandar Wawasan development project,” RHB said.
The properties comprised of a piece of land for a fourth office block with an adjacent parcel of vacant land of 397sq metres, a partially completed retail centre with four-levels of basement carpark and a partially completed apartment cum retail podium with four-levels of basement carpark.
VCSB, formerly known as RHB-Daewoo Sdn Bhd, had previously sold other properties from the Bandar Wawasan project in 1996 to 2005.