PETALING JAYA: Paragon Globe Bhd
(PGB) is proposing to acquire undivided beneficial interests representing approximately 195.6 acres within a 256.7 acres freehold master land in Sedenak, Kulai, Johor for RM127.28mil.
In a filing with Bursa Malaysia, the property developer said the proposed transaction will be undertaken by its wholly-owned subsidiary, PGB Gardens Sdn Bhd, which had entered into 29 conditional sale and purchase agreements with 35 beneficial owners of the relevant interests.
“Separately, PGB Gardens completed an initial acquisition on July 8, 2026, involving beneficial interests representing approximately 22.5 acres for a cash consideration of RM13.86mil, fully funded through internally generated funds.”
PGB said it intends to transform the land areas attributable to its interests into a high-yield industrial park comprising factory units, commercial components, and a workers’ hostel, with the project targeting GreenRE Gold certification as part of its commitment to sustainable development.
PGB said the industrial and commercial components are projected to carry an estimated gross development value of approximately RM1.69bil against an estimated gross development costs of RM1.26bil, delivering an estimated gross development profit of approximately RM430mil over the development period.
“The master land is strategically positioned within the Kulai-Sedenak flagship zone of the Johor-Singapore Special Economic Zone, an investment corridor supported by accelerating bilateral policy commitments, infrastructure development, and substantial corporate demand.”
