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Property News

Sunway Property unit buys land in Rawang for RM115 mil

KUALA LUMPUR (Aug 3): Sunway Bhd’s property arm Sunway Property, through its wholly owned subsidiary Sunway Rawang City Sdn Bhd (SRCSB), has signed an agreement to acquire 99.15 ha at Kuang, Rawang from Kauthar Equities Sdn Bhd for RM115 million.
The acquisition and proposed development of the land will be carried out via a joint venture between Sunway City Sdn Bhd (a wholly owned subsidiary of Sunway Bhd), and Amal Resources Sdn Bhd, which had signed a joint venture agreement on the same day to subscribe into SRCSB as the joint venture company.
“Situated adjacent to the Latar Expressway (or Kuala Lumpur-Kuala Selangor Expressway), the site offers excellent connectivity and is conveniently located just a 35-minute drive from Kuala Lumpur City Centre, as well as is within an hour’s reach from both the KL International Airport and Port Klang.
“The location makes it an ideal site for the proposed Industrial Technology Park to complement the burgeoning industrial areas in the Kuang and Rawang regions such as the Kuang Industrial Area and Rawang Industrial Park,” Sunway Property said in a statement.
It said the proposed Industrial Tech Park would comprise factories, warehouses and commercial components with a gross development value of at least RM2 billion. The vision for the Industrial Tech Park is to establish a vibrant ecosystem that integrates state-of-the-art infrastructure, robust digital connectivity and sustainable features.
With a total landbank of 1,241.57 ha and a potential gross development value of RM49.7 billion over a period of more than 15 years, Sunway Property is poised for sustainable growth.
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Source: EdgeProp.my

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