PETALING JAYA: Gamuda Bhd
’s proposed acquisition of 336 acres of land in Kuala Langat, Selangor, for RM248.7mil will serve as a strategic extension to the group’s Gamuda Cove township, which has a current remaining gross development value (GDV) of RM18.7bil.
RHB Research in a report said “the acquisition price of RM248.7mIl or RM17 per square foot (psf) implies a cost-to-GDV ratio of 11.3%, which is below the general rule of thumb of 20%.”
