Property developer Crescendo Corp Bhd is buying a piece of land in Johor Bahru for RM13 million to develop apartments for rent by Crescendo International College students.

Crescendo's wholly-owned unit Crescendo Education Sdn Bhd owns a 55% stake in Crescendo International College.

The group, via Crescendo Education, is buying the land from Panoramic Housing Development Sdn Bhd, a related party.

"The acquisition is expected to support and strengthen the group's position in the education business," Crescendo said in a filling with Bursa Malaysia.

"It is expected to contribute and supplement the long-term profitability of the core business activities of the Group, which are in property development and building construction," the group added.