PETALING JAYA: Titijaya Land Bhd
is acquiring a 6.07-hectare leasehold parcel in Bukit Raja, Selangor, for RM47.39mil as part of its strategy to expand its land bank and strengthen its presence in the Klang Valley property market.
In a filing with Bursa Malaysia yesterday, the property developer said its indirect wholly owned subsidiary, Titijaya Makmur Sdn Bhd, had entered into a sale and purchase agreement with Jasa Cendana Sdn Bhd for the acquisition.
Titijaya said the acquisition aligns with its strategy of focusing on developments in prime locations within Peninsular Malaysia’s central region and complements its existing projects in and around the Klang Valley.
The company said the purchase would also increase its land bank in strategic areas where it can leverage its experience in developing mixed-use projects.
The purchase price was negotiated on a willing-buyer willing-seller basis, taking into account the land’s location and prevailing market values of surrounding mixed-use developments.
The acquisition will be funded through a combination of internally generated funds and bank borrowings, with the final funding mix to be determined later.
Titijaya said the transaction is anticipated to contribute positively to the group’s future earnings and development pipeline.
Managing director Datuk Lim Poh Yit said Bukit Raja has evolved into a vibrant and fast-growing township strategically located between Klang and Shah Alam.
He noted that its close proximity to Setia Alam, Port Klang and KLIA, together with strong road connectivity across the Klang Valley, has positioned Bukit Raja as a key beneficiary of expanding logistics and industrial activities. This, in turn, has driven spillover demand for both commercial and residential properties throughout the township.
Furthermore, Lim said the Bukit Raja Selatan LRT3 station is expected to be fully operational by the end of the year as part of the LRT3 Shah Alam Line, which will improve connectivity between Klang, Bandar Utama and the wider Klang Valley.
“Today’s acquisition further expands our landbank of strategically located assets across the Klang Valley, Penang, and Sabah, giving Titijaya a broad range of future development opportunities.
“As of end-FY2025, our undeveloped land assets carry a potential future gross development value of over RM7bil.
“All in all, we view this deal as highly supportive of our long-term growth strategy and as a positive contributor to our future earnings and development pipeline,” he said.
