Regal International inks RM90m property offtake deal with Malaysia's Angkasa

PROPERTY developer Regal International Group has signed an offtake deal with Malaysia's apex cooperative organisation Myangkasa Bina Sdn Bhd, or Angkasa, regarding the purchase of residential units in Regal's project in Negeri Sembilan, Malaysia, it said in a press release on Tuesday.

Angkasa has agreed to buy all 276 homes in Regal's Airtrollis project's third phase. It will market and sell the homes and purchase all units that are unsold when the project is completed, Regal said, adding that the aggregate total value of the en-bloc sale was about RM90 million (S$.

The third phase of the Airtrollis project will begin construction in 2017 and is estimated to be completed in 2020.