PETALING JAYA: Sunway Property, the property arm of Sunway Bhd, is acquiring a 245-acre parcel of land in Kuang, Rawang to be developed into an industrial technology park.
A sale and purchase agreement for the RM115 million acquisition was signed yesterday by Sunway Rawang City Sdn Bhd, a subsidiary of Sunway Property, with Kauthar Equities Sdn Bhd.
In a statement issued to the media today, Sunway Property said Sunway City and Amal Resources Sdn Bhd will jointly develop the property.
The project will see the development of factories, warehouses and other commercial components with a gross development value (GDV) of RM2 billion.
The land is located adjacent to the KL-Kuala Selangor Expressway (Latar). It is a 35-minute drive from Kuala Lumpur and less than an hour away from KLIA Terminals 1 and 2, and Port Klang.
Sunway Property managing director Sarena Cheah said the industrial park would “integrate technology, sustainability and innovation to meet the needs of modern businesses”.