PETALING JAYA: Asian Pac Holdings Bhd is marking its foray into the East Coast with a proposed RM281.3mil commercial development in KotaSAS township in Kuantan, Pahang.

In a filing with Bursa Malaysia, the property group said its wholly owned subsidiary, Everest Pioneer Sdn Bhd, had entered into a joint development agreement with KotaSAS Sdn Bhd to develop 28.2 acres of land in three phases.

KotaSAS, a wholly owned subsidiary of Tanah Makmur Bhd, will retain ownership of the land, while Everest Pioneer will undertake the development.

Separately, Asian Pac said another wholly owned subsidiary, Wangsa Masyhur Sdn Bhd, has agreed to acquire 21.48 acres of adjoining leasehold land from KotaSAS for RM42.09mil.

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