Thursday 7 January 2016

Ideal Sun City expands property investment business to Kuala Lumpur

Ideal Sun City Holdings Bhd, which began diversifying into property investment holding last year with the purchase of commercial units in Penang, is widening its property base by buying 15 light industrial lots in Anzen Business Park, Kuala Lumpur, for RM6.155mil.

The Penang-based project management service firm told Bursa Malaysia that the 15 properties in Taman Bukit Maluri, with built-up areas ranging from 1,076 sq ft to 2,153 sq ft, had a 99-year leasehold ending Nov 27, 2079.

“All 15 properties are rented out with average gross rental yield of approximately 5.9% per annum based on the market value of the properties,” it said.
 
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