KUALA LUMPUR: KSL Holdings Bhd is acquiring freehold land measuring 72,820 sq metres in Shah Alam, Selangor from S P Setia Bhd for RM228.80mil.

In a filing with Bursa Malaysia, KSL said the proposed acquisition will enlarge the group’s current land bank to enhance future revenue and earnings.

“The said land will be used for residential development projects and further enhance its presence in the property market in Selangor.

“The development project is expected to commence in 2025 and is envisaged to spread over a period of 10 to 15 years,” it said.