PETALING JAYA: Protasco Bhd
’s unit Sun Rock Development Sdn Bhd has entered into a contract to dispose of three pieces of commercial land to NSK Property Sdn Bhd for RM16.72mil cash.
The land in question is located in Johor Baru and totals about 2.7ha.
According to Protasco, the sale was owing to its expectation that demand for developed properties will remain weak in the coming years, owing to a slowdown in the property market and economy.
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