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KUALA LUMPUR: LBS Bina Group Bhd’s subsidiary Casa Inspirasi Sdn Bhd is acquiring two pieces of land in Genting Highlands, Bentong for a mixed development project with a gross development value (GDV) of RM9 billion.

It has signed a sale and purchase agreement with Perbadanan Setiausaha Kerajaan Pahang to acquire 125.5 hectares of leasehold land for RM97.85 million.

LBS in a filing with Bursa Malaysia said it intends to build serviced apartments, double-storey terrace houses, townhouses, bungalows, commercial units; tourism activities; and amenities of schools and a hospital on the plots.

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‘’The proposed acquisition in Genting Highlands marks the company’s continuous effort to grow and expand its business activities.

‘’With its strategic location and a fervent tourist hotspot with high visitor traffic, the proposed development is expected to receive optimistic demand and growth potential,’’ it said.

The development will be funded via internally generated funds and bank borrowings. - Bernama