Sunway Property Acquires 245 Acres of Prime Freehold Industrial Land in Kuang, Rawang
Sunway City Kuala Lumpur, Aug 3 ~ Sunway Berhad’s (Sunway Berhad 5211) property arm, Sunway Property, through its wholly-owned subsidiary, Sunway Rawang City Sdn Bhd (“SRCSB”), had signed a Sale and Purchase Agreement (“SPA”) on Aug 2, to acquire a 245-acre parcel of prime freehold land at Kuang, Rawang from Kauthar Equities Sdn Bhd for a purchase consideration of 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 Berhad), and Amal Resources Sdn Bhd, who 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 245-acre 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 Kuala Lumpur International Airport and Port Klang.
The exceptional 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.
The proposed Industrial Tech Park will comprise factories, warehouses, and commercial components with a gross development value (GDV) 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.
Sunway Property Managing Director, Sarena Cheah said, “We are thrilled to announce the acquisition of this strategic parcel of freehold land in Kuang, Rawang to add to our overall portfolio. This acquisition signifies our dedication to developing a future-ready Industrial Tech Park that integrates technology, sustainability, and innovation to meet the needs of modern businesses and add to our ever-expanding industrial development portfolio.”
“The strategic acquisition is in line with Sunway Property’s commitment to driving innovation, technology, and sustainable development in the industrial sector while catering to the evolving needs of businesses in the digital age. We hope to contribute to spur innovation, economic growth, job creation and attract investments with this new project,” she added.
Sunway Property’s proven track record in sustainable development and its commitment to leverage technology would ensure that the Industrial Tech Park in Kuang, Rawang will strongly meet the demand in the industrial sector as well as set new benchmarks for the sector as a whole.
With a total landbank of 3,068 acres and a potential gross development value of RM49.7billion over a period of more than 15 years, Sunway Property is poised for sustainable growth.
