Sunway Bhd has acquired three land parcels in Selangor and Penang for RM179.8 million, in a move to strengthen its presence in key urban growth corridors.
Spanning nearly nine acres, the acquisitions involve parcels in Puchong and USJ 1, Selangor, as well as George Town, Penang. They are earmarked for mixed-use developments with a combined estimated gross development value (GDV) exceeding RM1 billion, according to a press statement issued on Monday (Jan 5).
Spanning nearly nine acres, the acquisitions involve parcels in Puchong and USJ 1, Selangor, as well as George Town, Penang.
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. With a GDV of RM770 million, the project will be developed into a mixed-use project with serviced apartments and neighbourhood retail.
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 @ Yong Peng Sin.
The site adjoins Sunway’s existing two-acre land in the area and is located next to the South Quay-USJ 1 BRT station, enabling a consolidated development footprint of over three acres.
Plans for the site include a transit-oriented development near Sunway City Kuala Lumpur, which houses Sunway Pyramid, Sunway Medical Centre and Sunway University.
In Penang, Sunway Bintang Sdn Bhd acquired a 1.05-acre freehold parcel along Jalan Pangkor for RM61.451 million from Technisense Sdn Bhd.
Situated 500m from Gurney Bay and near key retail and medical facilities, the site is earmarked for a tourism-oriented mixed-use project with a GDV of RM274 million.
“These acquisitions are part of our long-term strategy to strengthen Sunway’s presence in key growth corridors while replenishing our land bank with prime, well-located sites,” said Sunway Property managing director Chung Soo Kiong in the statement.
He adds that Puchong and USJ 1 will allow the company to introduce integrated, transit-oriented developments within mature townships, while the expansion into George Town reinforces the confidence in Penang’s continued growth as a regional hub for investment and tourism.
All three projects will be guided by the group’s proprietary Sunway Design and Development Architecture (SDDA), which integrates sustainability, innovation, health and wellness, and lifestyle features into its developments.
