PETALING JAYA: The disposal of two adjoining parcels of leasehold land in Puchong by Glomac Bhd
is primarily “an execution de-risking move” amid challenges at the Loop City development, analysts say.
Glomac, via its 50.13%-owned subsidiary, Glomac Al Batha Sdn, is selling the two parcels of land in Bandar Metro Puchong to Sunway Kiara Sdn Bhd for RM97.3mil.
The land, part of an approved master development plan for a project called Loop City, had been designated for serviced apartments.
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