LBI Capital Bhd has proposed to acquire land in Selangor for RM14.5 million to replenish its property development portfolio ahead of the completion of its three projects in the Klang Valley some time next year.

The purchase price, determined on a ‘willing-buyer-willing-seller’ basis, is at a 4.6% discount to the vendor, Pembinaan Amal Cekap Sdn Bhd’s original investment cost of RM15.2 million.

The land, measuring 197,199 sq ft in Taman Mutiara Puchong, Petaling, will be developed into 142 units of two- to three-storey shop offices over the next two to three years, the company said in a statement yesterday.

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