Oxley buys prime freehold land in KL

FOLLOWING its first overseas acquisition in Kuala Lumpur in May, Oxley Holdings, which has been making headlines for its choice global investments, is adding yet another trophy to its stash.

The latest is a plot of prime freehold land measuring about 12,575 square metres, located within the Kuala Lumpur City Centre (KLCC) area. Oxley picked up the site, which houses six bungalow buildings known as 149 to 159 Jalan Ampang, at RM446.7 million (S$174 million) from an estate sale.

The group intends to redevelop the land, subject to obtaining all the necessary approvals, said Oxley yesterday. The site is in close proximity to Petronas Twin Towers, Suria KLCC, Grand Hyatt, Mandarin Oriental, and various luxury condominiums, such as Four Seasons Place, Dua Residency, Binjai Residency and The Troika. There is also a diverse array of amenities including shopping malls, upmarket restaurants, nightspots and international schools.