Gadang Holdings Bhd has announced plans to acquire a parcel of freehold land measuring 11.179 acres in Johor Baru, Johor, from Tanahmas Kapital Sdn Bhd for RM75.48 million.
The proposed acquisition, which will be executed under the company’s ongoing expansion strategy, is aimed at strengthening Gadang’s property development portfolio in one of Malaysia’s fastest-growing urban centres. According to the company, the land is strategically located in a prime area of Johor Baru, offering strong potential for residential, commercial, or mixed-use development projects.
In a statement, Gadang Holdings said the acquisition aligns with its long-term growth objectives, enabling the group to capitalize on Johor’s rising property demand and the development opportunities created by the region’s proximity to key transportation hubs and economic zones.
The company did not disclose the specific plans for development on the site but emphasized that the acquisition is part of its broader strategy to expand its land bank and enhance shareholder value.
The RM75.48 million consideration reflects the strategic value of the land, which spans over 11 acres, and is expected to provide a platform for future property projects that can contribute to Gadang’s revenue and profitability over the medium to long term.
The proposed acquisition is subject to the approval of Gadang Holdings’ board of directors, and the company will provide further updates as the transaction progresses.
