Sunway Bhd (KL) has announced its plan to acquire a 17.58-acre plot of prime land in Taman Taynton, Kuala Lumpur, for RM320 million. The company aims to develop a mixed-use project with an estimated gross development value (GDV) of RM3.2 billion, further expanding its footprint in Kuala Lumpur.
The land is strategically located next to Sunway Alishan, one of the group’s residential developments, and will feature a blend of luxury serviced apartments and a wellness-focused retail podium, designed to include health and wellness clinics. This combination aligns with the group’s vision of offering holistic, integrated developments that cater to modern urban living.
The land acquisition will be carried out through Sunway Melawati Sdn Bhd, a wholly-owned subsidiary of Sunway, and the purchase is made from Viva Impian Sdn Bhd.
High-Quality Integrated Development for Kuala Lumpur
According to Sarena Cheah, the managing director of Sunway Property, the acquisition reflects an exciting opportunity to meet the growing demand for high-quality, integrated developments in the city. Cheah emphasized the group’s commitment to creating a holistic community space that aligns with wellness and modern urban lifestyles.
“Our vision is to create a holistic community space centred 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,” said Cheah.
Market Position and Growth
Sunway Bhd’s shares closed at RM4.13, a 2.82% decrease on Wednesday, giving the company a market capitalisation of RM23.63 billion. Despite the slight dip, the counter has appreciated by over 92% year-to-date, indicating strong investor confidence in the company’s ongoing developments and strategic land acquisitions.
This new acquisition highlights Sunway’s strategy of acquiring prime locations for mixed-use developments that integrate residential, retail, and wellness components, further enhancing its market position as a leader in urban development.
The planned mixed-use project is expected to further stimulate growth in the Taman Taynton area, elevating it as a sought-after destination for residents and businesses alike.
