KUALA LUMPUR: Gamuda Bhd
via its wholly-owned indirect subsidiary Gamuda DC Infrastructure Sdn Bhd, has acquired about 389 acres of freehold land in Springhill Industrial Park in Port Dickson, Negeri Sembilan, from West Synergy Sdn Bhd, a 60%-owned indirect subsidiary of MUI Properties Bhd, for RM424.4mil.
The engineering and construction group said in a filing with Bursa Malaysia the land is planned for development of cloud/data centre infrastructure.
It said the acquisition will be funded by internally generated funds.
The acquisition is expected to be completed by end-July 2025
In a separate statement, MUI Properties Bhd executive chairman and chief executive officer Andrew Khoo said the transaction is a major step forward in the group’s ongoing initiative to monetise its landbank and investment properties.
"The sale proceeds will, amongst others, enable us to expand our portfolio of new landbanks for further growth and long-term sustainability," he said.
He added that the the sale is expected to establish Springhill as a hub for High Tech Digital Infrastructure and complementary developments.
It will also mark a new chapter for the town in enhancing property values and energising commercial and retail activities, he said.
