GAMUDA'S UNIT ACQUIRES 148-HECTARE LAND IN SELANGOR FOR RM248.7 MLN

KUALA LUMPUR, May 16 (Bernama) -- Gamuda Bhd’s wholly-owned subsidiary Gamuda Land (T12) Sdn Bhd is acquiring a 148.11-hectare land parcel in Kuala Langat, Selangor, for a total consideration of RM248.7 million.

In a filing with Bursa Malaysia, Gamuda said the proposed lands with an estimated gross development value (GDV) of RM2.2 billion are strategically located south of its current project development known as Gamuda Cove.

The group said the development of the land is planned as an extension of the existing Gamuda Cove township and aims to offer Gamuda’s branded homes with the right product concept and price to differentiate from other developers. 

“The addition of these proposed lands will further improve connectivity to and from Gamuda Cove to the larger population in and around Dengkil and Rimbayu towns,” it said.

It said the acquisition is expected to be completed by the second quarter of 2026, barring any unforeseen circumstances.

In a separate statement, Gamuda Land said future developments in the newly acquired land will incorporate biophilic design elements and sustainable construction methods, reinforcing its commitment to reducing carbon footprints and enhancing liveability.

To date, Gamuda Land has delivered over 60,000 homes, showcasing its strong track record in township development.

Gamuda Land’s broader plan is to invest RM10.5 billion (US$2.4 billion) over the next five years, with a total GDV of RM26 billion (US$6 billion), focusing on growth corridors in Vietnam, Malaysia, and the United Kingdom.

-- BERNAMA