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Goodland in deal to buy Malaysian properties for $62.7 million

Published on Jan 14, 2014 9:43 PM

PROPERTY developer Goodland Group is expanding to Malaysia, with a plan to buy Citrine Assets for $62.7 million.

Citrine Assets owns 70 per cent in the capital of T-City, with the remaining 30 per cent of T-City owned by GD Land.

T-City in turn owns properties in the Malaysian state of Perak.

The total land area of the properties owned by T-City is 8.9 million sq ft. The unexpired tenure of each property is about 98 years.

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