KUALA LUMPUR: Radium Development Berhad (“Radium” or the “Company”) has reached a significant milestone with the acquisition of a 2.56-acre leasehold parcel in Bandar Ampang, Selangor. The acquisition was executed through its indirect wholly-owned subsidiary, Mayang Sepakat Sdn. Bhd. This marks Radium’s first project outside Kuala Lumpur, aligning with its expansion strategy to strengthen its presence in key Klang Valley locations and deliver well-connected, high-value properties.
Key Highlights
1. Strategic Land Positioning
- Prime location near Kuala Lumpur City Centre.
- Direct accessibility via major highways and the Cempaka LRT Station.
- A transit-oriented development (TOD) opportunity appealing to urban residents and businesses.
2. Development Potential
- Planned mixed-use development with approximately 1,128 residential units, including 340 affordable Service Apartment Mampu Milik (SAMM) units.
- Commercial spaces to complement residential offerings.
- Estimated Gross Development Value (GDV): RM470 million.
3. Financial Strategy
- Acquisition cost: RM45 million, funded through a prudent mix of internal funds and bank financing.
- Reflects Radium’s financial stability and commitment to sustainable, growth-driven developments.
Strategic Rationale
The acquisition aligns with Radium’s vision of securing prime urban land in high-demand areas. Located within a TOD zone, just 350 meters from the Cempaka LRT Station, the site supports Radium’s focus on sustainable urban living and enhances its project pipeline catering to Klang Valley’s growing population.
Leadership Perspective
Group Managing Director Datuk Gary Gan Kah Siong shared his optimism about the project:
“This acquisition is a cornerstone in Radium’s growth strategy. It positions us to meet the rising demand for accessible, high-quality urban spaces in Klang Valley while reinforcing our commitment to creating sustainable, long-term value for shareholders.”
Outlook
As Radium expands its land bank and project portfolio, this acquisition reflects its dedication to delivering exceptional urban living spaces. The project is set to meet market demand and sustainability goals while strengthening the Company’s leadership in the Klang Valley property market.
For more information, visit www.radiumdevelopment.com.
