LBS Bina Group Bhd intends to form a joint venture with NWP Holdings Bhd, timber manufacturer to work on a development project on its 264-acre land in Zhuhai, China.
The Star reported that as part of the deal, LBS Bina has also proposed to subscribe to 1.1 billion NWP shares which is equals to 73.7 per cent of the enlarged number of issued shares of NWP.
The total cash consideration for the project is RM93.5 million, or 8.5 sen per share in order to part-finance the proposed development project.
In their separate filings with Bursa Malaysia, LBS Bina and NWP on March 5, the group said they had entered into a heads of agreement (HoA) for the proposed joint-development project and share subscription exercise.
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All allocated units of Careya terraced houses which is the first of S P Setia Bhd’s Starter Homes series in its 2,525-acre Setia Alam township were sold out on the day it was launched, said the developer in a statement on Feb 1.
According to The Edge Property, buyers had queued up at the launch venue as early as the night before the project was unveiled on Wednesday (Jan 31), it added.
“With only two parcels allocated for the Starter Homes series in Setia Alam, these limited editions homes were well received as expected,” said S P Setia.
Careya comprises 93 units of 20ft by 65ft 2-storey terraced homes with built-ups from 1,677 sq ft that are designed to maximise usable space.
Every home comes with an eight-foot backyard prepped for future renovation and extension works as foundation and slabs have been laid; in the interim, it serves as a drying area.
Continue reading “Setia Alam starter homes sold out on the first day of its launch”