PETALING JAYA: Gamuda Land continues to strengthen its presence in northern Klang Valley with the strategic acquisition of a 532-acre parcel, located next to its existing 810-acre Gamuda Gardens township, for a purchase consideration of RM360 million.
Gamuda Land CEO Chu Wai Lune said, “This acquisition will strengthen our presence in northern Klang Valley where we have already developed and invested substantially in the very successful Gamuda Gardens. Today, we see an overall average uptake of more than 90% for all landed properties launched here since 2017. The new acquisition will help to replenish Gamuda Land’s landed residential offerings in the area as a continuation to the success of Gamuda Gardens.
“We anticipate a greater uptake for our future products with the upcoming retail, leisure and commercial properties in the next two years to tailor for the burgeoning market in this area.”
Purchasers of Gamuda Gardens have seen an increase in their investment, with the first phase of terrace homes, launched in 2017, transacting up to 20% appreciation today.
With an estimated gross development value of RM3.3 billion, the new parcel is targeted for a 2026 launch and will contribute to the group’s earnings over the following six years as Gamuda Land continues to focus on high-value opportunities both in Malaysia and overseas where it has established its presence, namely Vietnam, Australia, Singapore and the UK.
The parcel will see a mix of landed residential and commercial properties.
“Our investment in this new parcel represents our strategic approach to create synergy for both Gamuda Gardens and this new parcel as both developments will be connected via a 1km woodland boulevard where people can walk, cycle or drive to and from both developments. We believe that with good planning, we can leverage the strength of both parcels. The new acquisition will unlock toll-free access from Gamuda Gardens to Rawang town, which will drive traffic to and from Gamuda Gardens and bring in substantial footfall. With this connectivity, the retail, leisure and commercial activities in the township can benefit from a wider catchment. At the same time, our residents from both parcels will have easy access to all the amenities within a short distance away,” Chu explained.
As with all Gamuda Land’s developments, sustainability is key to its masterplan. The homes will be designed with biophilic concept, having that connection to nature and built using a sustainable construction method.
Chu said, “Leveraging Gamuda Engineering’s expertise, 100% of our future developments will be built using a next generation digital industrialised building system (IBS) which provide superior quality over conventional construction method and represents a much more sustainable construction method.”
He added that using the next generation digital IBS will help reduce 40% carbon footprint during construction and allow us to reduce our dependency on foreign workers by 55% and customers will also rejoice in knowing that their homes can be delivered at least 12 months ahead of scheduled delivery compared to conventional construction method. This gives both the customers and developer an added advantage.
Gamuda Land’s remaining landbank stands at 3,344 acres amounting to RM55.3 billion in gross development value with a total development period of 15 years. These landbanks are spread across Malaysia, Vietnam, Australia, Singapore and the UK.