MALAYSIA PRESS-Berjaya Land says turf club cost surges to 1 bln rgt-The Edge

KUALA LUMPUR Sun Oct 14, 2012 8:54pm EDT

KUALA LUMPUR Oct 15 (Reuters) - Berjaya Land Bhd expects the construction cost for the new turf club in Sungai Tinggi, Selangor, to increase to 1 billion ringgit ($326.85 million) from 605 million ringgit previously due to the rising cost of building materials after years of delay in getting the necessary approvals from the state government.

The expected construction cost of 1 billion ringgit effectively translates into land cost of about 94 ringgit per square feet for the 244.79 acres in Sungai Besi, Kuala Lumpur, that Berjaya Land is acquiring from Selangor Turf Club.

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(Kuala Lumpur newsroom, +603 2333-8046, fax 603 2161-3340, areuters@gmail.com) ($1 = 3.0595 Malaysian ringgit)