GSH buying 50% stake in prime Jalan Petaling plot
The 99-year leasehold site will be developed into a premium condominium of about 1,700 units
Singapore
PROPERTY developer GSH Corporation is investing RM164.5 million (S$55.2 million) to acquire a 50 per cent stake in a prime 1.4-hectare plot in Kuala Lumpur's Chinatown precinct of Jalan Petaling.
The property developer said on Monday that it has signed a conditional subscription and shareholders agreement with Malaysian conglomerate Tradewinds Corporation for the stake in Aspirasi Kukuh, a wholly owned subsidiary of Tradewinds which owns the plot, and which will also undertake its development.
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