TA Research said the land deal will position Gamuda as a first-mover in developing government land with a private-housing component in the Chencharu area.
PETALING JAYA: Engineering and construction group Gamuda Bhd
’s acquisition of a land parcel in Singapore worth S$1.01bil or about RM3.31bil, together with joint-venture partners, is deemed positive and a timely addition to the group’s Singapore portfolio, analysts say.
Gamuda, via its wholly owned subsidiary Gamuda (Singapore) Pte Ltd and joint-venture partners Evia MCS Pte Ltd and H108 Pte Ltd, has secured the 29,450 square metre Chencharu Close leasehold site from Singapore’s Housing Development Board.
