Berjaya Land Development is acquiring freehold land from Penang Turf Club, The Sun Daily reports. The developer will pay around $154 million for the site, which will be used to build residential property projects.

There will be no high-rise property projects or commercial properties at the site in Penang, Malaysia. Currently, the land houses horse stables and part of an 18-hole golf course, and hosts equestrian activities.

Click here for the story from The Sun Daily.