Ageson via its 99% subsidiary Solidvest Properties Sdn Bhd has entered into a memorandum of understanding with Koperasi Belia Nasional Berhad to sell a piece of land measuring 9.325 acres in Gombak, KL for residential development.
The land which is earmarked for residential is said to be purchased for a consideration of RM35 million, Solidvest is the registered and beneficial owner and the developer of the land which it acquired in year 2006.
Upon the completion of the sale of the Land, Kobena intends to appoint SPSB as the developer to plan, develop, complete, and procure potential purchasers for the proposed development. SPSB on 22 July 2019 obtained the planning permission plan from Majlis Perbandaran Selayang to develop the Land into a proposed residential development. The details of the Proposed Development include 56 units of semi-detached houses and 4 units of bungalows.
The entry of the MOU was intended to provide additional time for Kobena to do all necessary due diligence as well as to obtain its board’s approval and at the same time form a basis of commitment to the Parties to create a mutual understanding and also pave a way for further discussion between the Parties prior to the signing of any definitive agreement to effectuate the proposed disposal.
