29/05/2025

PROPERTY THURSDAY | MAY 29, 2025

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Gamuda Land acquires 336-acre plot for RM248.7m

Tropicana Uplands’ Summit Commercial Hub, Aster Heights fully taken up JOHOR BAHRU: Covering 313 acres, Tropicana Uplands is fast becoming a highly sought after address in Gelang Patah, Johor. It stands as one of Tropicana Corporation Bhd’s landmark townships that is designed with sustainability at its core. This integrated project offers a balanced work-live-learn-shop-play environment and is easily accessible via five highways namely the North-South Expressway, Pasir Gudang Highway, Iskandar Coastal Highway, Pontian Highway, and the Second-Link Expressway. Both of its commercial and residential phases – Summit Commercial Hub and Aster Heights – achieved 100% take-up while its latest residential development Fraser Heights phase 1, recorded 80% take-up as of Q1’25. Located within the international zone of Iskandar Malaysia, Tropicana Uplands is poised to be the new pulse of Johor as it is surrounded by mature residential and commercial properties. Tropicana marketing & sales and business development managing director Ixora Ang shared the unique development DNAs of this wholesome township. “Since 1979, we have crafted more than 18 townships anchored by our 8 unique development DNAs. We are proud to create another thriving township such as Tropicana Uplands, transforming it to a vibrant and desirable address in Johor. Our shop offices at Summit Commercial Hub recorded an impressive 100% take-up, achieving 90% completion and slated to be ready for handover by the second half of 2025. Aster Heights, our first completed residential phase is 100% sold out and received the highest 87% QLASSIC score. Following this overwhelming demand, in January this year, Fraser Heights phase 1 was launched with much success, recording 80% take-up within the first quarter of the year.” In line with Tropicana’s mantra to Redefine the Art of Living, purchasers and investors will enjoy a host of attractive features—from practical, well designed layouts and superb connectivity, everyday conveniences, to exclusive access to the 19-acre Central Park which is home to seven recreational amenities that are catered to all family members spread across three generations.

o Site at southern tip of Gamuda Cove, with GDV of RM2.2 billion, will allow developer to expand and build on success of township

PETALING JAYA: Gamuda Land has acquired a 336-acre land parcel at the southern tip of the 1,530-acre Gamuda Cove development. This expansion is a move to leverage the success of the adjacent Gamuda Cove, where substantial investments have already been made, resulting in a thriving community. The land was acquired for RM248.7 million, with an estimated GDV of RM2.2 billion. The newly acquired land, strategically positioned south of Gamuda Cove, serves as the southern gateway to the township. Nestled between the lush Paya Indah

Additionally, the Seremban Yard initiative will support the growth of small and medium enterprises by providing inclusive and dynamic community entrepreneurship spaces. With its pedestrian-friendly design and rail integration, the project is expected to increase public transport usage by 30% by 2030, in line with sustainability goals and efforts to reduce dependency on private vehicles. Loke said that this development exemplifies strategic public-private partnership in driving sustainable, modern and inclusive growth – in line with the principles of Malaysia Madani. tourism activities at the 90-acre Wetlands Arboretum and Paya Indah Discovery Wetlands. These initiatives will complement existing attractions such as SplashMania Waterpark and Discovery Park, further enriching the township’s appeal. These new offerings will create a dynamic, family-friendly destination that encourages visitors and tourists to support businesses in Townsquare and the upcoming Cove Centrum retail hub. Gamuda Cove is also ready to welcome ASAI Gamuda Cove hotel in 2026, a lifestyle hotel developed in partnership with Dusit International Group. Accessibility to Gamuda Cove will be further complemented via the Cyberjaya toll-free interchange which is targeted to be ready in August 2025. This new interchange will significantly improve con nectivity, reducing travel times to and from Cyberjaya to under 15 minutes. Gamuda Land’s masterplanning approach integrates sustainability and community-centric design, ensuring a well-balanced township that harmonises with nature. Future developments in the newly acquired land will incorporate biophilic design elements and sustainable construction methods, reinforcing Gamuda Land’s commitment to reducing carbon footprints and enhancing liveability. To date, Gamuda Land has delivered over 60,000 homes, showcasing its strong track record in township development. This latest acquisition aligns with the company’s balanced approach to township development, ensuring long-term growth while complementing its Quick Turnaround Project strategy. It also supports Gamuda Land’s broader plan to invest RM10.5 billion over the next five years, with a total GDV of RM26 billion, focusing on growth corridors in Vietnam, Malaysia, and the UK.

Discovery Wetlands and the Elite Highway, this acquisition allows Gamuda Land to maximise its placemaking initiatives while capitalising on existing infrastructure investments. The expansion will also provide alternative access routes via Jalan Dengkil–Banting/Bangi, further enhancing the township’s

The first phase of this development will be launched within six months upon the signing of this agreement, where the development of a medical centre and the proposed Seremban Yard will commence. This development will be completed in full within 14 years. The development of Seremban Sentral is expected to generate a positive impact on the local economy and community. In addition to a potential increase in property value, this TOD project will spur economic activity and attract new investments and businesses to the surrounding communities. This project will create up to 1,500 accessibility and appeal to a broader market. With most of the planned landed residences in Gamuda Cove already launched, this acquisition is a timely move to replenish Gamuda Cove’s residential offerings. The new land parcel will introduce a fresh range of residential products tailored to meet the growing demand for quality landed homes set amidst a master planned township, ensuring the continued success of Gamuda Cove as a premier residential and commercial hub in the southern corridor of Klang Valley. Gamuda Land CEO Chu Wai Lune said, “This strategic land acquisition is a continuation of the success we have achieved with Gamuda Cove. Our proven track record in creating sustainable, thriving communities has been demonstrated by the strong uptake of our landed properties, with an average of over 90% sold since 2019. This expansion not only reinforces our commitment to delivering quality homes but also allows us to enhance the overall vibrancy of the township, ensuring it remains a sought-after destination for both residents and investors.” By the end of 2026, Gamuda Cove will have delivered over 5,000 homes, establishing a substantial resident population that provides a strong foundation to support and drive its commercial activities. Gamuda Land’s next focus is to deliver commercial vibrancy through strategic partnerships. Additionally, the company secured partnerships with various organ-isations to enhance placemaking in Gamuda Cove, including the introduction of eco-

RAC, Sunway team up to develop RM2b mixed-use Seremban Sentral SEREMBAN: Negeri Sembilan’s capital is set to undergo a comprehensive transformation following the signing of agreement between Sunway Group and the Railway Assets Corporation (RAC) to develop 20.8 acres of land into a new integrated, mixed-use development known as Seremban Sentral. a catalyst for this development by integrating residential, commercial, public, social and transport elements into one ecosystem,” said Loke. Seremban Sentral will be friendly walkways connecting directly to the new Seremban Railway Station. Beyond modern infrastructure, the project embraces a heritage-sensitive approach through the Seremban Yard initiative, which focuses on preserving and repurposing the site’s historic railway warehouses. Loke who is also Member of Parliament for Seremban said. new jobs in the retail, construction, property, healthcare, education and tourism sectors.

Banking & Finance With an estimated GDV of RM2 billion, the development project will feature residential components; medical, retail and commercial centres; educational facilities; public and community spaces; green and recreational spaces; and pedestrian developed next to the existing Seremban Railway Station and will be integrated with the new Seremban Railway Station, which is being built under the Klang Valley Double Track 2 (KVDT2) project and is expected to be completed by December 2028.

These heritage structures will be thoughtfully transformed into a dynamic public space that supports emerging local businesses, food artisans, creative industries, and cultural activities – all while celebrating Seremban’s unique and rich cultural identity. “This effort not only preserves historical value but also breathes new life into a heritage site as a tourism attraction and creative economy hub,”

The signing ceremony held recently was witnessed by Transport Minister Loke Siew Fook, who also announced that Sunway had been selected as the lead developer for the project following a competitive Request for Proposal process. “As a rapidly developing state capital, Seremban needs a modern, sustainable, and well planned urban centre. Seremban Sentral will serve as

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