Our Corporate Real Estate team has advised Astana Setia Development Sdn Bhd, a wholly owned subsidiary of Lim Seong Hai Capital Berhad, in connection with its Sale and Development Agreement with Railway Assets Corporation (RAC) Malaysia for the acquisition of approximately 17.4 acres of freehold land in Subang Jaya, Selangor for a consideration of RM197.9 million.

The acquisition is intended for a proposed mixed-use development comprising up to six (6) residential towers with integrated retail and commercial components with an estimated gross development value (GDV) of RM1.91 billion.

The transaction was led by our Partner, Lim Yoke Wah and Senior Associate, Hilary Lim together with the support of our team in handling the legal and transactional aspects of the acquisition.

We are grateful for the opportunity to act as legal counsel and to support LSH Group on this significant transaction.

Read more:

1. The Edge (https://lnkd.in/gsy4tJZH)

2. New Straits Times (https://lnkd.in/gYCDhHHp)

3. The Star (https://lnkd.in/gFEctvPi

4. The Ledger Asia (https://lnkd.in/gHb6dsn7)