PETALING JAYA: OSK Holdings Bhd
has entered an agreement to acquire a freehold land parcel measuring approximately 98.33 acres in Bandar Sungai Petani, Kedah, from SP Baiduri Sdn Bhd for RM40.69mil.
In a statement, OSK said the acquisition marks a strategic step in strengthening our presence in Sungai Petani and advancing our long-term growth plans in Kedah.
“The site benefits from strong connectivity to key regional hubs, including Gurun, Alor Setar, Butterworth and Kulim, enhancing its appeal as a well-connected residential and commercial destination. It is also supported by established public amenities, including schools, retail, healthcare facilities and safety services, further strengthening its suitability for future township development.
OSK said the proposed development is envisioned as a large-scale township comprising double-storey terrace homes, townhouses and apartments, with an estimated gross development value of RM489mil.
“The development aims to build on the success of Bandar Puteri Jaya by delivering affordable homes for first-time home buyers.”
Deputy group managing director Ong Ju Xing said the acquisition marks a strategic step in strengthening the group’s presence in Sungai Petani and advancing its long-term growth plans in Kedah.
“By building on the success of Bandar Puteri Jaya, we are well-positioned to deliver a thoughtfully planned township that meets evolving community needs while contributing to the area’s continued development,” he said in a statement.
