KUALA LUMPUR: Cyberjaya Education Group Bhd
has proposed to acquire three parcels of freehold commercial land in Dengkil, Selangor, for RM15mil to support the future expansion of the University of Cyberjaya.
In a filing with Bursa Malaysia, the group said its indirect wholly-owned subsidiary, Ilmu Living Sdn Bhd, had entered into a sale and purchase agreement (SPA) with Maju Puncakbumi Sdn Bhd (in liquidation) for the acquisition.
The three contiguous parcels of vacant land, located in Mukim Dengkil, Sepang, have a combined area of approximately 24,777 sq m.
“The proposed acquisition enables the group to secure this land for future development, which may include student accommodation, sporting and recreational facilities, commercial amenities and other complementary uses that support University of Cyberjaya's students and enhance the overall student experience,” it said.
However, the development concept, scale and implementation timeline have yet to be determined, pending feasibility studies, planning and regulatory approvals.
Cyberjaya Education said the RM15mil purchase consideration was determined through a competitive tender process conducted by the vendor's liquidator.
The group had submitted its tender bid on April 14, 2026, which was subsequently accepted on July 21, 2026.
It said an independent valuation supported the board's view that the purchase price was within the prevailing market value of the properties.
The purchase will be satisfied entirely in cash, with RM1.5mil already paid as a deposit.
The remaining RM13.5mil is expected to be funded through internally generated funds, bank borrowings or a combination of both.
The proposed acquisition is subject to several conditions, including obtaining state approval for the land transfer and the removal of existing charges and caveats on the properties.
The acquisition is expected to be completed by the third quarter of 2027, subject to the fulfilment of the conditions under the SPA.
