Latest news with #RM248.7
The Sun
27-05-2025
- Business
- The Sun
Gamuda Land acquires 336-acre plot for RM248.7m
PETALING JAYA: Gamuda Land has acquired a 336-acre land parcel at the southern tip of the 1,530-acre Gamuda Cove development. This expansion is a move to leverage the success of the adjacent Gamuda Cove, where substantial investments have already been made, resulting in a thriving community. The land was acquired for RM248.7 million, with an estimated GDV of RM2.2 billion. The newly acquired land, strategically positioned south of Gamuda Cove, serves as the southern gateway to the township. Nestled between the lush Paya Indah Discovery Wetlands and the Elite Highway, this acquisition allows Gamuda Land to maximise its placemaking initiatives while capitalising on existing infrastructure investments. The expansion will also provide alternative access routes via Jalan Dengkil–Banting/Bangi, further enhancing the township's accessibility and appeal to a broader market. With most of the planned landed residences in Gamuda Cove already launched, this acquisition is a timely move to replenish Gamuda Cove's residential offerings. The new land parcel will introduce a fresh range of residential products tailored to meet the growing demand for quality landed homes set amidst a master-planned township, ensuring the continued success of Gamuda Cove as a premier residential and commercial hub in the southern corridor of Klang Valley. Gamuda Land CEO Chu Wai Lune said, 'This strategic land acquisition is a continuation of the success we have achieved with Gamuda Cove. Our proven track record in creating sustainable, thriving communities has been demonstrated by the strong uptake of our landed properties, with an average of over 90% sold since 2019. This expansion not only reinforces our commitment to delivering quality homes but also allows us to enhance the overall vibrancy of the township, ensuring it remains a sought-after destination for both residents and investors.' By the end of 2026, Gamuda Cove will have delivered over 5,000 homes, establishing a substantial resident population that provides a strong foundation to support and drive its commercial activities. Gamuda Land's next focus is to deliver commercial vibrancy through strategic partnerships. Additionally, the company secured partnerships with various organ-isations to enhance placemaking in Gamuda Cove, including the introduction of eco-tourism activities at the 90-acre Wetlands Arboretum and Paya Indah Discovery Wetlands. These initiatives will complement existing attractions such as SplashMania Waterpark and Discovery Park, further enriching the township's appeal. These new offerings will create a dynamic, family-friendly destination that encourages visitors and tourists to support businesses in Townsquare and the upcoming Cove Centrum retail hub. Gamuda Cove is also ready to welcome ASAI Gamuda Cove hotel in 2026, a lifestyle hotel developed in partnership with Dusit International Group. Accessibility to Gamuda Cove will be further complemented via the Cyberjaya toll-free interchange which is targeted to be ready in August 2025. This new interchange will significantly improve con-nectivity, reducing travel times to and from Cyberjaya to under 15 minutes. Gamuda Land's masterplanning approach integrates sustainability and community-centric design, ensuring a well-balanced township that harmonises with nature. Future developments in the newly acquired land will incorporate biophilic design elements and sustainable construction methods, reinforcing Gamuda Land's 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. This latest acquisition aligns with the company's balanced approach to township development, ensuring long-term growth while complementing its Quick Turnaround Project strategy. It also supports Gamuda Land's broader plan to invest RM10.5 billion over the next five years, with a total GDV of RM26 billion, focusing on growth corridors in Vietnam, Malaysia, and the UK.
New Straits Times
16-05-2025
- Business
- New Straits Times
Gamuda buys 136-ha land for nearly RM250mil to expand Gamuda Cove development
KUALA LUMPUR: Gamuda Bhd, through subsidiary Gamuda Land (T12) Sdn Bhd, has signed three sale and purchase agreements to buy three plots of land for RM248.7 million. The leasehold land is expected to contribute a gross development value (GDV) of RM2.2 billion over an estimated period of 11 years, according to a bourse filing. The acquisition of the combined 136 hectares is part of Gamuda's ongoing strategy to expand the southern tip of its 619-hectare Gamuda Cove development. Gamuda said the proposed acquisition is expected to be completed by second quarter of 2026. Nestled between the lush Paya Indah Discovery Wetlands and the Elite Highway, Gamuda said the acquisition allows Gamuda Land to maximise its placemaking initiatives while capitalising on existing infrastructure investments. The expansion will also provide alternative access routes via Jalan Dengkil-Banting/Bangi, further enhancing the township's accessibility and appeal to a broader market. Gamuda Land chief executive officer Chu Wai Lune said the land acquisition is a continuation of the success achieved with Gamuda Cove. "This expansion not only reinforces our commitment to delivering quality homes but also allows us to enhance the overall vibrancy of the township, ensuring it remains a sought-after destination for both residents and investors," he said in a statement. Gamuda Land said the township will have delivered over 5,000 homes by the end of 2026, establishing a substantial resident population that provides a strong foundation to support and drive its commercial activities. It noted that the next focus is to deliver commercial vibrancy through strategic partnerships, while securing partnerships with various organisations to enhance placemaking in Gamuda Cove. This includes the introduction of eco-tourism activities at the Wetlands Arboretum and Paya Indah Discovery Wetlands. "These initiatives will complement existing attractions such as SplashMania Waterpark and Discovery Park, further enriching the township's appeal," it added.
