Mulpha buys land in Australia to develop residential project
The group intends to develop the property into 63 residential land lots with a projected gross development value of A$150 million.
The group intends to develop the property into 63 residential land lots with a projected gross development value of A$150 million.
The project will comprise 38 turbines with a generating capacity of 228 megawatts when the wind farm begins operations in 2027, Gamuda said in a statement.
At its current market capitalisation, Gamuda is already the 21st largest company on Bursa Malaysia, making it poised to be a potential FBM KLCI constituent.
The scope of works under the contract consists of the design, supply, installation, testing, commissioning and maintenance of a new automatic train control system to replace the existing signalling and train control systems on Perth’s suburban rail networks.
The proposed development will comprise of approximately 340 apartment units with a launch GDV potential of A$450 million (RM1.
The land is described as a freehold industrial land that is “strategically” located between Sydney and the future Western Sydney Airport.
The divestment, it said, is driven by the shift from residential aged care to home care since 2019, which has resulted in its facility market value declining by one-third to A$27.
Earnings per unit for the third quarter ended Sept 30, 2023 (3QFY2023) declined to 2.