10 December 2018

Agile Property acquires Kuala Lumpur land plot, paper says

Agile Property Holdings Ltd. (03383.HK) is said to have acquired a 41,000-square meter plot in Kuala Lumpur, Malaysia, for 430 million yuan (US$70.9 million) via a joint venture named Agile PJD Development, the National Business Daily reported Friday. Agile Property holds 70 percent stake in Agile PJD Development, according to the report. The deal marks the developer’s first acquisition overseas, it said. Since 2012, over a dozen Chinese developers such as Country Garden Holdings Co., Ltd. (02007.HK), China State Construction Engineering Corporation Ltd. (601668.CN) and China Vanke Co. Ltd. (000002.CN) have started investing overseas, with Malaysia being one of the popular destinations, the report noted.

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