In order to consolidate and enhance the existing land bank, Matrix Concepts Holdings Bhd is acquiring 86 parcels of land in Negeri Sembilan which measures some 68.24ha purchased for RM73.45 million.

Speaking on the recent acquisition, Matrix Concepts said it is to add power into the company's existing land bank to serve as an extension to the existing Bandar Sri Sendayan to sustain continuous development in this matured township.

"The land, which is surrounded by upcoming developments, will further act as a catalyst to activate higher appreciation value to the properties within the vicinity to enhance the existing infrastructure serving the land," it said.

The developer said its unit Matrix Concepts Sdn Bhd had entered into a separate sale and purchase agreements with individual landowners or their administrators for the acquisition. He also added that the land comprises individual parcels of vacant agriculture land adjacent or adjoining each other, adding that the current market value of the land is about RM10 per sq ft.