KUALA LUMPUR: Gamuda Bhd
via its wholly-owned subsidiary Gamuda Land (T12) Sdn Bhd has proposed to acquire three parcels of land measuring about 336 acres for development as an extension of its 1,530-acre Gamuda Cove township.
In a statement, the group said it had entered into three separate sales and purchase agreements with Gagasan Ilmu Sdn Bhd for the acquisition of three parcels of leasehold land in Tanjong Duabelas in Kuala Langat, Selangor, for RM248.7mil.
The newly acquired land, strategically positioned south of Gamuda Cove, serves as the southern gateway to the township.
Nestled between the Paya Indah Discovery Wetlands (PIDW) and the ELITE Highway, the group said the acquisition allows Gamuda Land to maximise its placemaking initiatives while capitalising on existing infrastructure investments.
The expansion will also provide alternative access routes via Jalan Dengkil – Banting/Bangi, further enhancing the township's accessibility and appeal to a broader market.
"This strategic land acquisition is a continuation of the success we have achieved with Gamuda Cove.
"Our proven track record in creating sustainable, thriving communities has been demonstrated by the strong uptake of our landed properties, with an average of over 90% sold since 2019.
"This expansion not only reinforces our commitment to delivering quality homes but also allows us to enhance the overall vibrancy of the township, ensuring it remains a sought-after destination for both residents and investors," said Gamuda Land CEO Chu Wai Lune.
The lands, which are leasehold and intended for mixed development, are currently being used for agricultural activities with existing facilities.
Gamuda intends to pay for the acquisition with cash funded from internally generated funds. It said the proposed acquisition is expected to be completed by the second quarter of 2026.
The proposed development project has a gross development value of RM2.2bil and a duration of 11 years.
Gamuda said the latest acquisition aligns with the company’s balanced approach to township development, ensuring long-term growth while complementing its Quick Turnaround Project (QTP) strategy.
It also supports Gamuda Land’s broader plan to invest RM10.5bil (US$2.4bil) over the next five years, with a total GDV of RM26 bil (US$6bil), focusing on growth corridors in Vietnam, Malaysia, and the UK.
