KUALA LUMPUR: Aeon Co (M) Bhd will acquire 2 pieces of land in Seremban, Negeri Sembilan for RM102.89 million from Real Attraction Sdn Bhd.
In a Bursa Malaysia filing, Aeon said it has entered into a sale and purchase agreement (SPA) with Real Attraction for the lands, measuring 0.96ha and 8.36 ha, respectively.
“The proposed use of the lands is to construct a building-commercial shopping centre or its equivalent for operating a shopping centre with car parks and departmental stores/supermarket,” it said.
Aeon also mentioned that the company will pay 10% of the purchase price upon signing the SPA and the remaining 90% of the purchase price shall be paid progressively to the vendor until the successful transfer of title in the company’s name as set out in the payment schedule agreed by both parties.
“The proposed acquisition is in line with Aeon’s corporate strategy of developing its future retail business and giving the company the opportunity to expand in Seremban.
“The lands are strategically located, immediately adjacent to the existing Aeon Mall Seremban 2, which would enable the company to construct a building-commercial shopping centre link to the existing mall as one of the strategic expansion plans,” it added.
— BERNAMA
