Paragon Globe Berhad announced a proposed acquisition of undivided beneficial interests representing approximately 8.52 million square feet (195.6 acres) within a 256.7 acres freehold Master Land in Sedenak, Kulai, Johor.
The total cash consideration for the strategic stake stands at RM127.28 million. Subject to land conversion and applicable development approvals, PGB intends to transform the land areas attributable to its interests into a high-yield industrial park comprising factory units, commercial components, and a workers’ hostel, with the project targeting GreenRE Gold certification as part of its commitment to sustainable development.
Based on the Group’s preliminary development concept, the industrial and commercial components are projected to carry an estimated Gross Development Value of approximately RM1.69 billion against estimated Gross Development Costs of RM1.26 billion, delivering an estimated gross development profit of approximately RM430 million over the development period.
Concurrently, the group added the proposed workers’ hostel component will comprise 360 units with an estimated capacity of up to 5,400 workers.
The proposed transaction will be undertaken by PGB Gardens Sdn. Bhd. a wholly-owned subsidiary of PGB, which has entered into 29 conditional sale and purchase agreements (SPAs) with 35 beneficial owners of the relevant interests. Separately, PGB Gardens completed an Initial Acquisition on 8 July 2026 involving beneficial interests representing approximately 980,100 square feet (22.5 acres) for a cash consideration of RM13.86 million, fully funded through internally generated funds.
Upon completion of both exercises, PGB will control an aggregate 841/1000 share of the total beneficial interests in the Sedenak Master Land.
