Ong believes this acquisition is a step forward in reinforcing the vision of creating sustainable developments that meet evolving market needs.
PETALING JAYA: OSK Holdings Bhd’s (OSK) property arm, OSK Property Holdings Bhd (OSK Property) is acquiring three parcels of freehold land totalling 14.477 acres in Rawang, Selangor from Temasya Mentari Sdn Bhd for RM58mil.
Situated within the township of Bandar Country Homes, the newly acquired lands are earmarked for residential and commercial development targeted to appeal to buyers who are looking at affordability and quality living for their first homes or those seeking investment potential.
The proposed acquisition is aligned with OSK Property’s strategy of focusing on mature markets with faster development cycles. The three land parcels are expected to generate a gross development value of RM1.26bil.
OSK deputy group managing director Ong Ju Xing said this acquisition marks an important milestone for OSK Property as we extend our footprint into the northern Klang Valley with our maiden entry into Rawang.
Ong said that the Bandar Country Homes township and its surrounding communities offer a myriad of lifestyle choices which has been constantly developed and improved over a period of 30-odd years.
“We believe that it is timely for us to enter a new market and participate in the northern Klang Valley growth corridor by unlocking new opportunities that complement our existing portfolio while creating thriving lifestyle spaces that benefit the community. This is a step forward in reinforcing our vision of creating sustainable developments that meet evolving market needs,” he added.
By adding these parcels into its development pipeline, OSK Property can diversify its offerings and establish a stronger presence in the northern Klang Valley, capitalising on the growing demand for affordable residential and commercial developments in the area.
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