UOA buys Concord Housing Development, assumes liabilities


PETALING JAYA: UOA Development Bhd has acquired Concord Housing Development Sdn Bhd, a property development company, which owns six parcels of freehold land at Jalan Ipoh, Kuala Lumpur.

UOA paid RM2 to take over Concord and would assume the company’s RM134.3mil liabilities.

In a filing with Bursa Malaysia, it said the acquisition was in line with the group’s strategy to grow its activities within the Klang Valley.

The group plans to develop the area, which will be highly accessible via major highways such as the Duta-Ulu Klang Expressway and Jalan Kuching, into an integrated mixed development.

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