China’s R&F Pays $1.4 Billion for Malaysia Land in Expansion
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Guangzhou R&F Properties Co., a landlord in the southern Chinese city’s business district, will pay 4.5 billion ringgit ($1.4 billion) for six sites in Malaysia from a royal family, marking its first acquisition abroad.
The developer plans to build commercial and residential properties on the 116 acres (47 hectares) in the southern Malaysian state of Johor Bahru, according to a statement to the Hong Kong stock exchange today.