Ong is confident in OSK Property’s growth in the northern region.
KUALA LUMPUR: OSK Property has entered into a sale and purchase agreement to acquire approximately 330.53 acres at a purchase consideration of RM72mil. Located north of Sungai Petani, the proposed land is strategically positioned within Kedah's residential zoning area and the rapidly growing industrial parks in Kulim and Gurun.
This initiative underscores the group's commitment to catering to the growing demand for affordable and quality housing.
“This acquisition represents another milestone in our property development journey in the northern corridor. It reflects our confidence in the growth potential of the northern region and our commitment to nation-building,” said deputy group managing director Ong Ju Xing.
The proposed acquisition follows an earlier transaction this year to acquire 356 acres of land within the same vicinity, raising the total GDV in the area to RM2bil. The proposed land boasts excellent connectivity to major highways, including the North-South Expressway (NSE) to ensure seamless access to key areas like Bedong, Gurun and Sungai Petani. The site is also near established developments offering potential for residential, commercial and mixed-use developments.
This acquisition aligns with OSK Property’s long-term strategy to capitalise on Malaysia’s economic recovery and increasing demand for well-located properties. By expanding its land portfolio in Kedah, the Group aims to strengthen its presence in northern Malaysia along with its 2,600-acre township Bandar Puteri Jaya in Sungai Petani.
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