SUNWAY Bhd through its wholly-owned subsidiary Sunway Melawati Sdn Bhd, has entered into a sales and purchase agreement (SPA) with Viva Impian Sdn Bhd (VISB) to acquire a parcel of 17.58-acre prime freehold land in the thriving neighbourhood of Taman Taynton, Kuala Lumpur for a purchase consideration of RM320 mil.
The proposed land acquisition is strategically situated adjacent to Sunway Alishan residential development.
The parcel of land is earmarked for a mixed-use development with an estimated gross development value (GDV) of RM3.2 bil.
The proposed development will integrate opulent serviced apartments offering a unique urban living experience with a vibrant wellness-focused retail podium featuring health and wellness clinics.
In line with Sunway’s ongoing commitment to sustainability, the project will be designed with the Sunway Design and Development Architecture (SDDA) as its governing design philosophy to deliver unrivalled sustainability, innovation, health and wellness, and lifestyle and new experiences for the community.
“The proposed acquisition represents an exciting opportunity to meet the growing demand for high-quality, integrated developments in Kuala Lumpur,” commented Sarena Cheah who is the managing director of Sunway Property, the group’s property arm.
“Our vision is to create a holistic community space centered on wellness that serves the evolving needs of modern urban lifestyles. We are confident that this development will catalyse and elevate the growth in the surrounding area.”
Strategically located with direct access from the Middle Ring Road 2 (MRR2), the development is seamlessly connected to key highways which include the Shah Alam Expressway (KESAS), Grand Saga Highway, East-West Link, and Maju Expressway (MEX).
The site is located just 500 metres away from the Ekocheras bus stop/taxi stand, 800m away from Taman Mutiara MRT station, 5km away from the Cheras LRT station and 6.3km from the Terminal Bersepadu Selatan (TBS).
“Sunway Property will work closely with local stakeholders and planning authorities to ensure the development meets the highest standards of quality, safety and environmental responsibility,” noted Cheah.
“This new endeavour reaffirms Sunway Property’s position as a leader in innovative, sustainable urban developments and continuing its legacy of building thriving communities that stand the test of time.”
At the close of today’s market trading, Sunway was down 12 sen or 2.82% to RM4.13 with 9.57 million shares traded, thus valuing the company at RM23.66 bil. – Oct 2, 2024
