On August 1, 2017, Sunway Bhd announced that they were purchasing 5.99 hectares (15 acres) of derelict industrial land in the Subang Jaya area of Kuala Lumpur, Malysia.
They plan to redevelop it in three stages, investing about RM1.4billion (over US$327 million). The first phase of repurposing the property will focus on creating new warehouses and storage facilities. The second phase will focus on mixed-use redevelopment.
Plans for the final phase have not yet been announced, and will depend on how the previous two phases fare. In the interim, they will lease the surplus areas to other individuals or businesses.
Sunway is buying the land from Jaks Resources Bhd’s unit Premier Place Property Sdn Bhd for RM167.6million (about US$39 million).
The property less than half a kilometer from several historic buildings, as well as major amenities such as Da Men Mall, Summit USJ, Giant Hypermarket, and Mydin Hypermarket.
“The land’s strategic location and easy access to major highways make it a suitable site for storage and warehousing for the group’s trading and machinery businesses and will minimize transportation costs to clients,” Sunway officials said.
The hope is that this major redevelopment effort will transform a blighted old factory area into a vibrant new extension of the existing community.