KUALA LUMPUR: DAIMAN DEVELOPMENT BHD [] has succeeded in its bid to buy the Menara Landmark in Johor for RM55 million.

It said on Thursday, Aug 11 its unit Daiman PROPERTIES [] Sdn Bhd had put in the bid to acquire the property in a public auction at a reserve price of RM55 million. The acquisition would be financed from its own funds.

Daiman said the building had 171,097 sq ft of retail complex, 163,339 sq ft of office tower, a car park area for 673 cars and 471 bays for motorcycles (estimated built-up area of 290,170 sq ft).

'The acquisition will enable Daiman Development to further expand its investment in property sector particularly in the key growth Johor Bahru CBD district and to continue with its property investment activities in the region,' it said.