KUALA LUMPUR Jan 5 Sunway Bhd has acquired three parcels of land in Selangor and Penang for a total consideration of RM179.8 million as part of its strategy to strengthen its presence in key urban growth corridors.
The acquisitions cover nearly nine acres and include sites in Puchong and USJ 1 in Selangor as well as George Town in Penang. The parcels are earmarked for mixed use developments with a combined estimated gross development value exceeding RM1 billion.
In Puchong, Sunway Kiara Sdn Bhd acquired a 6.77 acre leasehold parcel from Glomac Al Batha Sdn Bhd for RM97.3 million. The site has direct access to the Damansara Puchong Expressway and Shah Alam Expressway and is planned as a mixed use development comprising serviced apartments and neighbourhood retail with an estimated GDV of RM770 million.
In USJ 1, Rich Worldclass Sdn Bhd acquired a 1.12 acre freehold parcel for RM21 million from the estate of the late Yong Peng Seng. The land adjoins Sunway’s existing holdings in the area and is located next to the South Quay USJ 1 BRT station. The combined site is expected to support a transit oriented development near Sunway City Kuala Lumpur.
In Penang, Sunway Bintang Sdn Bhd acquired a 1.05 acre freehold parcel along Jalan Pangkor in George Town for RM61.451 million from Technisense Sdn Bhd. Located about 500 metres from Gurney Bay, the site is planned for a tourism oriented mixed use project with an estimated GDV of RM274 million.
Sunway Property managing director Chung Soo Kiong said the acquisitions are part of the group’s long term strategy to replenish its land bank with well located sites while strengthening its presence in established growth areas. He added that the developments in Puchong and USJ 1 will enable the introduction of integrated and transit oriented projects, while the George Town acquisition reflects confidence in Penang’s continued growth as a regional investment and tourism hub.
All three projects will be guided by Sunway Design and Development Architecture, which integrates sustainability, innovation, health and wellness and lifestyle features into its developments.
7/1/2025