OSK Holdings Bhd deputy group managing director Ong Ju Xing
PETALING JAYA: OSK Holdings Bhd
is acquiring a 3.312-acre parcel of freehold land in Subang Jaya, Selangor for RM44.34mil from Tropicana Metropark Sdn Bhd.
In a filing with Bursa Malaysia, OSK Holdings said the deal is made through its property arm OSK Property Holdings Bhd and its indirect subsidiary Perspektif Vista Sdn Bhd. The group said the land is proposed to be developed for both commercial and residential use.
It noted the development has preliminary plans for serviced apartment residences aimed at young house buyers with an estimated gross development value of RM427mil.
Expected to be completed in the first quarter of 2026, the acquisition will be satisfied via internally generated funds and bank borrowings.
The group’s deputy group managing director Ong Ju Xing said the acquisition reflects OSK Property’s confidence in the “resilience and marketability potential of the Subang Jaya market”.
“Subang is one of the most mature and vibrant townships in the Klang Valley, with excellent connectivity and a strong ecosystem of amenities. We see continued demand for well-connected, lifestyle-oriented developments, particularly among buyers who are looking for the right balance of good value and quality living,” he said.
