LSH Capital Bhd is expanding its property development portfolio with the acquisition of approximately 17.4 acres of land in Subang Jaya, Selangor, through its wholly-owned subsidiary Astana Setia Development Sdn Bhd.
In a statement, the group said it had signed a sale and purchase agreement with Railway Assets Corporation (RAC) to acquire the two land parcels for RM197.9 million.
The land is earmarked for a mixed-use development comprising up to six residential towers integrated with retail and commercial components. The project is expected to have an estimated gross development value (GDV) of RM1.91 billion and will be developed in phases over an estimated five-year period.
LSH Capital said the development is strategically located to support transit-oriented development (TOD) and is expected to enhance connectivity within one of Selangor’s key transportation hubs. The project is also anticipated to contribute to economic growth by creating employment opportunities, stimulating construction-related activities, and promoting sustainable urban development.
The company estimates the project will carry a gross development cost (GDC) of RM1.32 billion, further strengthening its construction and property development pipeline.
Non-executive chairman Tan Sri Datuk Seri Lim Keng Cheng said the agreement reflects RAC’s confidence in LSH Capital’s ability to deliver large-scale developments with disciplined execution. He added that the acquisition will enable the group to unlock the long-term value of the strategic landbank while creating sustainable returns for shareholders and delivering lasting benefits to the surrounding community.
