Sunway buys land in USJ from JAKS Resources Bhd for RM1.4 bil mixed development

Sunway Bhd is buying 4 parcels of freehold industrial land with mixed development potential located in USJ for RM167,589,760 (RM260 psf). The total land size of the 4 parcels is 14.79 acres. Sunway plans to redevelop the land into a mixed use development with an estimated gross development value (GDV) of at least RM1.4bil in the next five years.

The land in USJ will be purchased by Sunway Supply Chain Enterprise Sdn Bhd, a wholly-owned subsidiary of Sunway, from Premier Place Property Sdn Bhd, which is a wholly-owned subsidiary of Bursa Malaysia-listed Jaks Resources Bhd.

Sunway will be using the land in the immediate term as warehouses and storage facilities. Any surplus areas may be leased to external parties. In the medium term, Sunway plans to redevelop the Lands which are strategically located for mixed use development. The Lands are within 500 meters of landmark buildings such as Da Men Mall, Summit USJ, Giant Hypermarket and Mydin Hypermarket. The Lands are also located near public transportation with the South Quay BRT station about 600 meters away and the USJ7 LRT station less than 1 km away. The Lands are easily accessible via major highways like Kesas, NPE and NKVE.

Land info:

Lot no:  Lot 526, 527,528 and 62506, Tempat Sungei Penaga, Mukim Damansara, Daerah Petaling, Selangor Darul Ehsan
Land area: Total 644,275.24 sq ft/14.79 acres
Lot 526 – 130,573.87 sq ft
Lot 527 – 130,573.87 sq ft
Lot 528 – 130,573.87 sq ft
Lot 62506- 252,553.63 sq ft
Tenure: Freehold
Category of Land Use: Industrial
Land price: RM167,589,760 (RM260 psf)
Date of transaction: 31 July 2017
Vendor: Premier Place Property Sdn Bhd (subsidiary of JAKS Resources Bhd)
Purchaser:  Sunway Supply Chain Enterprise Sdn Bhd (subsidiary of Sunway Bhd)

Location Map:


Be the first to comment

Leave a Reply

Your email address will not be published.