KUALA LUMPUR: YTL group, which is paying a record RM2,000 per sq ft for a piece of land in Jalan Stonor, intends to make more acquisitions in the Kuala Lumpur city centre.
YTL Corp Bhd managing director Tan Sri Francis Yeoh said yesterday that land price in Kuala Lumpur city was “still very affordable'' compared with Asian cities such as Singapore, Ho Chi Minh City, Hanoi and Jakarta.
“We intend to invest in more properties in prime locations in the city, as the Kuala Lumpur property scene is set to be very exciting,'' he said, adding that this was due to Government measures such as the relaxation of approval from the Foreign Investment Committee.
Yeoh said after a briefing on Climate Change Week 2008 that YTL was planning a residential development comprising apartments on the Jalan Stonor land measuring just under 0.4ha, which it acquired for RM85mil.
Homebuyer due diligence
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A COMMERCIAL transaction normally commences with due diligence being
conducted prior to much consideration being put into the written agreement.
This measu...
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