Majestic Gen expands Penang footprint with RM75mil Jalan Anson land deal
Majestic Gen Sdn Bhd has acquired three adjoining parcels of freehold land alongside Jalan Anson right here for RM75 million.
The developer acquired the land from Dynamic Gates Sdn Bhd, a particular objective automobile beneath Paramount Company Bhd’s earlier securitisation train.
In a press release as we speak, Majestic Gen mentioned the land, with a mixed gross flooring space of about 295,508 sq. toes, is at the moment occupied by UOW Malaysia KDU Penang College School.
Its chief government officer, Datuk Hoo Kim See, mentioned the acquisition represents an necessary step within the group’s technique to increase inside high-growth city centres throughout the northern area, including that Penang continues to point out resilience and financial momentum throughout sectors comparable to expertise, tradition, tourism and schooling.
“We purpose to create locations that communities can belief for a few years. Strengthening our presence right here aligns with our imaginative and prescient to construct developments that carry significant worth,” he mentioned.
The group mentioned the Jalan Anson buy marks its subsequent part of progress, significantly because it plans to increase into high-rise developments on the island.
Supply: Bernama
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