Sunway Property, through its wholly-owned subsidiary, Sunway Rawang City Sdn Bhd, had signed a Sale and Purchase Agreement to acquire a 245-acre parcel of prime freehold land at Kuang, Rawang from Kauthar Equities Sdn Bhd for a purchase consideration of RM115 million.
The acquisition and proposed development of the land will be carried out via a joint venture between Sunway City Sdn Bhd and Amal Resources Sdn Bhd, who had signed a joint venture agreement.
Sunway said the exceptional location makes it an ideal site for the proposed Industrial Technology Park to complement the burgeoning industrial areas in the Kuang and Rawang regions such as the Kuang Industrial Area and Rawang Industrial Park.
The proposed Industrial Tech Park will comprise factories, warehouses, and commercial components with a gross development value (GDV) of at least RM2 billion. The vision for the Industrial Tech Park is to establish a vibrant ecosystem that integrates state-of-the-art infrastructure, robust digital connectivity, and sustainable features.
