KLSE (MYR): SPSETIA (8664)
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ks55
4,242 posts
Posted by ks55 > 2024-03-27 10:52 | Report Abuse
Strong demand for Setia Alaman. SP Setia is in the midst of getting approvals to rezone Setia Alaman Industrial Park (GDV: MYR3.09b) for industrial use. The industrial park spans 399 acres, comprising of 35 plots of industrial land and six plots of commercial land. Some land parcels were recently transacted by logistics players at MYR140-160 psf, well exceeding management’s initial expectations. The attractive price is largely attributed to its strategic location and connectivity, linked to major highways like Jalan Meru and the North Klang Valley Expressway or NKVE. Other than the outright sale of industrial plots, SP Setia is also planning a JV for the co-development of certain plots.
This piece of land originally belongs to Petaling Garden, next to Klang Sentral, bounded by Setia Alam, and industrial park now developed by Sime Property. Easy access to WCE as well. Important to note the land carries book value rm 514 million only, i,e, rm 1.3 million per acre. Where can you get industrial land for this paltry sum in well established location these day?
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