Highland Towers land to be sold through tender exercise by AmBank, says report

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Highland Towers, where an apartment building collapsed, killing 48 people in 1993, will now be sold through a tender exercise by AmBank (M) Bhd, reported The Star today, quoting a source.

The daily quoted an unnamed officer from the bank as saying that those interested to submit their bids can purchase the information memorandum for RM200 a copy before December 17 to know about details of the sale as well as the land.

A notice on the sale in an English daily stated that the property comprised of 50 freehold bungalow lots surrounding the site of Highland Towers.

The announcement comes days before the 20th anniversary of the Highland Towers tragedy on December 11.

In the incident which shocked the nation, one of the three apartment blocks came crashing down, sparking the biggest rescue operation the country had seen then.

The collapse forced the evacuation of residents from the other two blocks, which together formed what was once an affluent neighbourhood tucked in a serene setting, just a stone's throw away from the city centre.

Efforts by former residents to be compensated failed when in 2006, 73 Highland Towers's residents lost their suit against the Ampang Jaya Municipal Council (MPAJ) for liability.

The residents had sued 10 parties for between RM31 million and RM35 million. The units have been vacant since the incident.

Despite the area's dark chapter, a property firm told The Star that the tender exercise would attract "a fair bit of interest from developers" as land in the city was scarce.

“There would certainly be interest in the land, and the property’s fair value would be subject to a willing buyer-willing seller basis,” said Henry Butcher Malaysia director Lim Eng Chong, as quoted by the daily.

The bank official said the property was meant for sale en bloc. - December 3, 2013.

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