Yong Tai is buying the lands by acquiring the owner Laila Development Sdn Bhd, for RM35 million. In a statement today, Yong Tai said the project's gross development cost (GDC) is RM800 million (including the land cost), which gives rise to a potential development profit of RM300 million. Yong Tai expects the mixed development to take approximately five years to complete. Yong Tai group chief executive officer Datuk Wira Boo Kuang Loon is optimistic that the acquisition will further fuel the growth of the company. "The Laila Development Lands are just next to the Impression Melaka theatre.

Source: The Edge Markets March 21, 2017 11:37 UTC