Gamuda’s property unit acquires Rawang land for RM360mil

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Gamuda Land’s newly acquired land is estimated to have a gross development value of RM3.3 billion.

PETALING JAYA: Gamuda Land has acquired a 532-acre parcel located next to their existing 810-acre Gamuda Gardens township in the Northern Klang Valley for RM360 million.

This new land holds an estimated gross development value (GDV) of RM3.3 billion and is targeted to launch in 2026. The mix-used development comprising residential and commercial properties is expected to contribute to its parent Gamuda Bhd’s earnings over the next six years.

Gamuda Land’s CEO Chu Wai Lune said this acquisition will strengthen its presence in the northern Klang Valley as Gamuda has already developed and invested in that area.

“This purchase will replenish our landbank for landed residential offerings in the area as a continuation to Gamuda Gardens,” he added.

This new investment presents the company’s approach in creating a synergy for both Gamuda Gardens and this new development. Both parcels will be connected by a 1km woodland boulevard allowing walking, cycling and driving access between both developments.

“It will also unlock toll-free access from Gamuda Gardens to Rawang town, which will bring in a substantial footfall. This wider catchment will benefit the retail, leisure, and commercial components of the township,” Chu said.

In terms of wider access, Gamuda Gardens and this new parcel will be reachable via three highways, North-South Expressway, LATAR Highway and the Guthrie Corridor Expressway.

Gamuda Gardens was launched in 2017 with a present overall average take up rate of 90% for all its landed properties.

As of now, Gamuda Land’s total landbank stands at 3,344 acres with a total GDV of RM55.3 billion over a development period of 15 years. These lands are spread across Malaysia, Vietnam, Australia, Singapore and the UK.