KUALA LUMPUR: Seacera Group Bhd plans to develop some RM10 billion worth of properties within its 200.6ha (501.5 acre) land in Semenyih, Selangor under its proposed diversification from tile manufacturing.
Seacera planned to work with a prominent property developer to undertake a mixed project on the tract located about 8km from the Semenyih and Kajang town centres, group managing director Zulkarnin Ariffin was quoted as saying by the Edge.
"We plan to work with a big property developer" Zulkarnin said after Seacera's extraordinary general meeting (EGM) in Batu Caves today.
Seacera will announce development plans for the land in the next six months, he said, adding that the project is expected to last for 10 to 15 years.
At the EGM, Seacera shareholders had approved the company's proposed acquisition of the Duta Nilai Holdings Sdn Bhd for RM165.1 million.
Duta Nilai owns about 250.24 acres of land, which forms part of the 501.5 acre tract.