KUALA LUMPUR, 31 October 2023: The Selangor Dredging Berhad (SDB) group has entered into a Sales and Purchase Agreement to acquire approximately 29.19 acres of vacant leasehold land in Taman Putra Perdana, south of Puchong, Selangor for RM87.9 million.

SDB’s wholly-owned subsidiary Prestij Permai Sdn Bhd had inked the deal with Xtra Touch Sdn Bhd based on a ‘willing buyer, willing seller’ basis after taking into consideration the market value as valued by Raine & Horne International Zaki + Partners Sdn Bhd. The purchase of the land will be funded by both internally generated funds and bank borrowings.

The land purchase forms part of SDB’s ongoing identification of suitable properties to enhance its current land bank. It faces a 20 acres lake and has close proximity to major highways such as SKVE, ELITE, MEX and Putra Link.

SDB is planning to develop the land into approximately 550 units of two and three-storey terrace houses. The planned development has a Gross Development Value (GDV) of approximately RM609 million and is expected to offer homebuyers a product that stands out in terms of design, aesthetics and safety.

SDB first ventured into property development in 2004 and has since completed a total of 23 developments in Malaysia and across the causeway in Singapore. In recent years, SDB has won numerous industry recognition and international awards, including the FIABCI World Prix d’Excellence Awards which recognises projects for real estate excellence.

In Malaysia, the Group’s two ongoing developments, namely 19Trees and Jia, are located at strategic locations in Taman Melawati, Kuala Lumpur and Taman Bukit Serdang, Selangor respectively. At the time of writing, both projects have achieved 80% and 95% sales respectively.