UEM Land in deal with Nusajaya

UEM Land Bhd, the master developer of Nusajaya, signed a sale and purchase agreement valued at RM49.6 million with Nusajaya Consolidated Sdn Bhd, as the latter has exercised its option to buy a second parcel, measuring 2.71ha in Puteri Harbour.

Nusajaya Consolidated, a 50:50 joint venture company of UEM Land and United Malayan Land Bhd, was formed in October 2008 to develop waterfront properties in Puteri Harbour.

It purchased a 0.89ha land in November last year, with the option to purchase a second parcel.

Nusajaya Consolidated is currently developing boutique waterfront apartments, scheduled to be launched in 2011.

By Business Times