Sunway strengthens growth pipeline with RM180 mil in land acquisitions in Selangor and Penang
Three parcels have been acquired in Puchong and USJ 1, Selangor, and in Georgetown, Penang, as part of Sunway’s nationwide expansion strategy.
Three parcels have been acquired in Puchong and USJ 1, Selangor, and in Georgetown, Penang, as part of Sunway’s nationwide expansion strategy.
The construction group said the contract was awarded to its wholly owned subsidiary Trans Resources Corp Sdn Bhd.
The Penang International Dragon Boat Regatta (PIDBR) 2025 returned to Straits Quay Retail Marina with teams from around the world gathering at one of the island’s most recognisable waterfront settings.
Mah Sing said it believes the land price is reasonable given its prime location, potential gross development value, and contribution to expanding the group’s presence in Penang.
An open tender for the second main civil works package (CMC2)—which covers the alignment from Macallum to Penang Sentral, including a bridge across the Penang Strait—will be launched soon.
The two leasehold parcels have a combined area of approximately 17,013 sq m and include two factory buildings which are fully occupied.
Waterstone Penang is a freehold condominium by BSG Property, located in the established neighbourhood of Tanjung Bungah.
Designated as Package CMC2, the tender is open to Malaysian contractors as well as foreign contractors, which must form a joint venture or consortium with Malaysian contractors holding at least 50% equity.
Under the SPA, Pharmaniaga Logistics has already paid a 10% deposit of RM3 million, with the remaining RM27 million to be settled in installments as stipulated in the agreement.
EdgeProp editorial and branding head Jacqueline Lim: Penang’s residential overhang steadily eased from 5,493 units in 2020 to 2,069 units in 2024, reflecting a gradual absorption of unsold stock.