PETALING JAYA: Titijaya Land Bhd
is acquiring a 6.07-ha 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 firm 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.
