Damansara Holdings Berhad had entered into a sale and purchase agreement with Harmony Gallery Sdn Bhd, a subsidiary of Gromutual Berhad for the disposal of a 0.64-acre land at Taman Damansara Aliff, Johor for RM3 million.
The purchaser, Gromutual is a developer with extensive property projects in Johor and Melaka, the groups development products range from landed residential, commercial building, versatile business suites and industrial parks. Besides focusing on property development, it also has invested in properties that provide steady stream of recurring rental income. Including investment portfolio such as students apartments in Melaka, industrial buildings in Kulai and commercial units at Austin 18.
As for the seller, DBHD is one of the pioneers in property development have been established in 1960, and has its investment in various segments apart from property. The group has vast investment in Johor with a 53 acre integrated township Central Park developed together with Chinese based developer Country Garden.
The piece of freehold land located in Tebrau, District of Johor Bahru measures approximately 2591 square metres placing the price at approximately at RM1157 per square metre.