Radium Development acquires a 2.56-acre parcel for RM45m in Bandar Ampang, Selangor
The newly acquired site, located near Kuala Lumpur City Centre and directly accessible by major highways and the Cempaka LRT Station, represents a promising transit-oriented development opportunity for Radium “with direct appeal to urban residents and businesses seeking accessibility”, stated the company.
KUALA LUMPUR (Dec 4): Radium Development Bhd announced yesterday it has acquired 2.56-acre leasehold parcel for RM45 million in Bandar Ampang, Selangor, through its indirect wholly-owned subsidiary, Mayang Sepakat Sdn Bhd.
The company stated in a media release that this is its first project outside Kuala Lumpur an “aligns with the Company’s expansion plan and strengthens its foothold in key Klang Valley locations, reinforcing its commitment to creating well-connected, high-value properties”.
The newly acquired site, located near Kuala Lumpur City Centre and directly accessible by major highways and the Cempaka LRT Station, represents a promising transit-oriented development (TOD) opportunity for Radium “with direct appeal to urban residents and businesses seeking accessibility”, stated the developer.
The tract is being planned as a mixed-use development featuring around 1,128 residential units — including 340 affordable Service Apartment Mampu Milik units — and commercial spaces, the project carries an estimated GDV of RM470 million.
Radium will fund the acquisition through a mix of internal funds and bank financing.
“The acquisition represents a cornerstone in Radium’s growth strategy. This project is ideally positioned to meet increasing demand for high-quality, accessible urban spaces in Klang Valley and signals our commitment to creating sustainable, longterm value for our shareholders,” said group managing director Datuk Gary Gan Kah Siong.
“The property’s location within the TOD zone — just 350m from Cempaka LRT Station and well-connected by major thoroughfares — supports Radium’s focus on sustainable urban living spaces in growth corridors, enhancing Radium’s pipeline of projects aimed at Klang Valley’s growing urban population,” stated the company.
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Source: EdgeProp.my
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