OSK acquires land in Selangor for RM58mil

PETALING JAYA: OSK Holdings Bhd is acquiring three parcels of land totalling 58,465 sq metres in Gombak, Selangor from Temasya Mentari Sdn Bhd for RM58mil.

In a filing with Bursa Malaysia, OSK said the acquisitions form a critical component of the group’s long-term business strategy.

“It would allow the group to tap on the demand for residential homes in the northern Klang Valley, where the group does not have a presence currently.

“The acquisition of lands will widen the group’s market coverage and enhance its ability to undertake development activities to meet the growing demand for residential, commercial and mixed-use properties.”

OSK said this expansion is aligned with the group’s goals of increasing its market share in the property development sector while reinforcing its reputation as a leader in delivering quality developments.

“The acquisition of lands positions the group to capitalise on favourable market conditions and align with the group’s strategic growth initiatives.

“The integration of these newly acquired lands into the group’s existing development pipeline enhances the group’s ability to diversify its property offerings and strengthen its presence in key growth areas.”

Deputy group managing director Ong Ju Xing said the acquisition marks a significant milestone for OSK Property, extending its footprint into the northern Klang Valley with its first project in Rawang.

“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 said.