Gamuda acquires 336 acres for extension of Gamuda Cove township
KUALA LUMPUR: Gamuda Bhd via its wholly-owned subsidiary Gamuda Land (T12) Sdn Bhd has proposed to acquire three parcels of land measuring about 336 acres for development as an extension of its Gamuda Cove township.
In a statement, the group said it had entered into three separate sales and purchase agreements with Gagasan Ilmu Sdn Bhd for the acquisition of three parcels of leasehold land in Tanjong Duabelas in Kuala Langat, Selangor, for RM248.7mil.
The lands, which are leasehold and intended for mixed development, are currently being used for agricultural activities with existing facilities.
Gamuda intends to pay for the acquisition with cash funded from internally generated funds. It said the proposed acquisition is expected to be completed by the second quarter of 2026.
The proposed development project has a gross development value of RM2.2bil and a duration of 11 years.
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