The 20.88-acre site is for a shopping centre to serve Seremban, Seremban 2 and Kuala Pilah.
Ireka’s unit, Ireka Engineering & Construction Sdn Bhd, which is selling the land, will also undertake to build the shopping centre and car park for a total maximum price of RM203.14mil.
The disposal price to Aeon includes land conversion premium, earthworks and infrastructure costs.
This transaction provides a good opportunity for Ireka to employ its capability as a developer and design & build contractor to serve multi-national corporations such as Aeon.
Not only is Ireka able to source, purchase and improve on a piece of land in terms of approvals, it can also build on the land, giving Aeon a hassle-free option to developing a shopping centre.
Ireka has projects with a total gross development value of RM2bil which will keep the company busy for the next five years.
READ MORE: http://www.thestar.com.my/Business/Business-News/2015/04/24/Ireka-sees-return-from-Aseana-stake-this-year/?style=biz
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