Sunway will assume ownership of MCL Land and its subsidiaries, including ongoing development projects in Singapore as well as its portfolio of income-generating and development assets in Malaysia.
Sunway Group is paying $738.7 million deal to buy the Singaporean and Malaysian residential development business MCL Land from Hongkong Land Holdings.
This deal marks the Malaysian conglomerate's largest deal to date, and will lift its Singapore investment to more than $1.2 billion since July.
