KUALA LUMPUR: Parkwood Holdings Bhd
's wholly-owned subsidiary Parkwood Templers Sdn Bhd has inked a deal to acquire four tracts of freehold land measuring a combined 12.45ha in Rawang in Gombak, Selangor, for RM27mil.
This comes following the Oct 25, 2024, announcement that the group will acquire 0.61ha of land in Rawang for RM3.9mil.
In a statement, Parkwood said it will develop all five parcels of land in Rawang into a contemporary residential enclave featuring modern living with sustainability and community connection.
It said the acquisition is aligned with its business growth strategy, which aims to develop a modern master-planned community that harmonises sustainable living with a community-focused lifestyle, nature and accessibility.
Parkwood added that the move will contribute positively to the growth of its property development business.
The group expects to launch the development by the third quarter of 2026.
"This latest acquisition not only positions us to meet the rising demand for high-quality residential properties but also capitalises on the serene and private environment that Rawang offers.
"We are optimistic that this will contribute positively to our future earnings and subsequently deliver landed urban residential development that seamlessly blends urban convenience and tranquil lifestyle for the residents," siad Parkwood executive chairman Lim Chin Sean.
