Lim Seong Hai Capital Berhad announced that its wholly owned subsidiary, Astana Setia Development Sdn Bhd had entered into a sale and development agreement with Railway Assets Corporation for the sale and development of two parcels of land measuring
approximately 17.4 acres, located in the vicinity of Subang Jaya, Selangor.
The Lands are earmarked for a proposed mixed development comprising up to six residential towers with integrated retail and/or commercial components, carrying an estimated gross development value of RM1.91 billion. The Lands are envisaged to be developed in phases over an estimated five-year period.
“This project’s estimated gross development cost (GDC) of RM1.32 billion is expected to add strategic scale to our construction and property pipeline, and also stands as a testament to the trust that partners such as RAC place in LSH Capital’s track record of disciplined execution. We look forward to unlocking the full potential of this landbank to deliver sustainable, long-term value to our shareholders and the communities we serve,” said Tan Sri Datuk Seri Lim Keng Cheng, Non-Executive Chairman of LSH Capital
