KUALA LUMPUR: Kerjaya Prospek Property Bhd’s unit Pixel Valley Sdn Bhd has entered into a purchase and development agreement with Aspen Vision City Sdn Bhd to acquire a tract of freehold land measuring about 1.97ha in Seberang Perai Selatan in Pulau Pinang for RM27.57mil.
In a bourse filing, the group said the property will serve as landbank for Pixel Valley’s property development activities.
It added that the property has been proposed for a mixed-use development comprising serviced apartments and some commercial and retail lots.
However, it said the expected gross development value and development costs for the project have yet to be determined.
The proposed acquisition of the land is expected to be completed within 90 days from the unconditional date, which is expected to be completed by July 2022.