The latest land acquisition is part of Radium’s commitment to create long-term value for shareholders, Gan said.
PETALING JAYA: Radium Development Bhd (Radium) has announced the acquisition of a 2.56-acre in Bandar Ampang, Selangor for RM45mil, through its subsidiary Mayang Sepakat Sdn Bhd. Radium said the acquisition is a strategic move to expand and strengthen its foothold in Klang Valley.
The leasehold land, situated about 350 m from the Chempaka LRT station, is planned as a mixed-use development featuring around 1,128 residential units. This is inclusive of the 340 units of affordable Service Apartment Mampu Milik (SAMM). In addition, there will be commercial spaces.
“The acquisition represents a cornerstone in Radium’s growth strategy. This project is ideally positioned to meet the increasing demand for high-quality, accessible urban spaces in Klang Valley and signals our commitment to creating sustainable, long-term value for our shareholders,” said managing director Datuk Gary Gan Kah Siong.
According to the group, the acquisition will be funded through a mix of internal funds and bank borrowing.
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