KUALA LUMPUR: Sunway Bhd
has acquired three land parcels in Selangor and Penang for RM179.8 million as part of efforts to replenish its development landbank and strengthen its future project pipeline.
In a statement today, the group said the acquisitions involved sites in Puchong and USJ 1 in Selangor, as well as George Town in Penang, with a combined land area of about 3.62 hectares and an estimated gross development value (GDV) exceeding RM1 billion.
"The acquisitions align with Sunway’s strategy to expand its footprint in high-demand urban centres and deliver well-connected, sustainable communities,” it said.
In Puchong, Selangor, Sunway, via its subsidiary Sunway Kiara Sdn Bhd, entered into a sale and purchase agreement with Glomac Al-Batha Sdn Bhd to acquire a 2.74-hectare leasehold parcel for RM97.3 million.
The group said the land, which has direct access to the Damansara-Puchong Expressway and Shah Alam Expressway, is earmarked for a mixed-use development with an estimated GDV of RM770 million, comprising serviced apartments and neighbourhood retail components.
Separately, Sunway, via its wholly owned unit Rich Worldclass Sdn Bhd, acquired a 0.45-hectare freehold parcel in USJ 1 for RM21 million.
The group said the parcel adjoins its existing 0.81 hectares of freehold land in the area, allowing it to consolidate about 1.26 hectares of land near the USJ 1 Bus Rapid Transit (BRT) station.
"The consolidation allows Sunway to plan a comprehensive, transit-oriented development that
enhances liveability, connectivity, and long-term community value,” it said.
In George Town, Penang, Sunway, through its unit Sunway Bintang Sdn Bhd, acquired a 0.42-hectare freehold parcel along Jalan Pangkor for RM61.45 million.
The group said the site, located about 500 metres from Gurney Bay, has an estimated GDV of approximately RM274 million and is intended for a mixed-use development comprising serviced apartments and retail components.
Sunway Property managing director Chung Soo Kiong said the acquisitions are part of the group’s long-term strategy to strengthen its presence in key growth corridors while replenishing its landbank.
"Puchong and USJ 1 will allow us to introduce integrated, transit-oriented developments within mature townships, while our expansion into George Town reinforces our confidence in Penang’s continued growth as a regional hub for investment and tourism,” he said.
The group said all projects will be guided by its design and development architecture framework, which incorporates sustainability, innovation, health and wellness, and lifestyle considerations.
"Sunway will collaborate closely with local stakeholders and planning authorities to ensure the projects meet the highest benchmarks of quality, safety, and environmental responsibility, in line with the group’s vision of creating thriving, future-ready communities,” it said. - Bernama
