OSK Holdings Bhd has entered into an agreement to acquire a freehold land parcel measuring approximately 98.33 acres in Bandar Sungai Petani, Kedah, for RM40.69 million from SP Baiduri Sdn Bhd.
In a statement, OSK said the acquisition represents a strategic move to strengthen its presence in Sungai Petani while supporting its long-term property development plans in Kedah.
The group said the land is well-positioned due to its strong connectivity to key regional hubs including Gurun, Alor Setar, Butterworth and Kulim, making it suitable for future residential and commercial development.
It added that the site is also supported by established public amenities such as schools, retail outlets, healthcare facilities and safety services, which further enhance its attractiveness for township development.
OSK said the proposed project is planned as a large-scale integrated township comprising double-storey terrace homes, townhouses and apartments.
The development is expected to generate an estimated gross development value (GDV) of RM489 million once completed.
The group said the acquisition aligns with its strategy to expand its property development footprint in high-growth areas, leveraging improving infrastructure and rising demand for housing in northern Peninsular Malaysia.
