Tapah Land Development Sdn Bhd (“Tapah Land Development”) has entered into 3 agreements to acquire 17 pieces of leasehold lands in the state of Perak. Under the 3 Sales and Purchase Agreements (“SPA”) with Symphony Hills Sdn Bhd (“Symphony Hills”), Tapah Land Development has proposed the acquisition of approximately 1,776.63 acres of the lands, situated in Perak, for a total purchase consideration of approximately RM75.5 million.
Tapah Land Development is a 65%-owned indirect subsidiary of Sunsuria Berhad (“Sunsuria”), where its principal business activities are focused on property investment and development.
The 17 lots of land are located in Mukim Batang Padang and Mukim Bidor. Out of the 1,776.63 acres, 13% (226 acres) are unused lands, while the balance of 1,550 acres covers 500 acres of farmland, 450 acres of old oil palm plantations, and 500 acres of newly planted oil palm plantations. They are currently agricultural land but zoned for mixed residential and commercial.
This proposed acquisition represents an opportunity for Sunsuria Group to expand its existing property development activities to the District of Batang Padang, Perak and to tap into a new area of west coast Malaysia, as it is a strategic location between Ipoh and Kuala Lumpur. The move will further expand the land banks of Sunsuria Group for potential future development
and will enable the Group to leverage on its successful business model of providing affordable and quality landed properties.
The development of these lands will also improve temporary access to the local community, effectively creating jobs and business opportunities for the local economy.
ABOUT SUNSURIA BERHAD
The roots of Sunsuria Group dates to 1989, when its founder and owner, Tan Sri Datuk Ter Leong Yap, started to develop various residential, commercial, and industrial property projects within Klang Valley. Today, Sunsuria has grown into a multi-faceted and well-established public listed property developer, that has also diversified into construction, landscape & nursery, education, integrated healthcare, retail, investment holding, and other business complementary joint ventures.
Sunsuria has embarked on a 525-acre flagship development located at Salak Tinggi, Putrajaya South with the name of “Sunsuria City”. The development is designed with the guiding principles of Smart, Livable and Sustainable. It is a freehold integrated township that will become the new international landmark with Xiamen University Malaysia, the first overseas university campus from China.
In collaboration with Concord College International Ltd and Concord College, UK, Sunsuria is launching a new British International School for day and boarding students in Sunsuria City, Sepang. The new international school sits on a 10-acre land and will have a well-balanced academic staff and students to stimulate a global-learning environment that fosters cultural diversity and international relations. Set to open in September 2024, the school will uphold and preserve the academic success of its sister school, Concord College, UK. It is ranked one of the top international schools in the UK with a syllabus based on the UK National Curriculum for Primary (Years 1 to 6), Senior (Years 7 to 11), and Sixth Form (A-Level) students.
Sunsuria Forum @ 7th Avenue is the first integrated social-living hub in Setia Alam. This 13.5 acre development is inspired to bring in a whole new level of vibrancy and is transforming the skyline of Setia Alam where classic space meets urban excitement in a distinct ambience.
Bangsar Hill Park is inspired by resort-living experiences and designed with facilities that are built to impress. This distinguished lifestyle destination is situated on Lorong Maarof, placing future residents near the vibrancy, convenience, and lifestyle of Bangsar — the perfect spot for the urban spirit.
Sunsuria has been growing from strength to strength, embracing new challenges as we expand our expertise. Being a community-focused, growth and value-oriented developer, Sunsuria places reliability at the core of its operations and will continue to ensure better value creation for its stakeholders, focusing especially on our customers.
Over the years, Sunsuria has gained recognition as among the leading property developers in Malaysia, such as being listed as one of the 15 Malaysian companies in the Forbes Asia's Best Under A Billion (USD) 2020, winning the Best Sustainable Township development for Sunsuria City in the ASEAN Property Developer Award 2020/2021, the Honour Award for Landscape Design (Professional Category) for Suria Residence at the Malaysia Landscape Architecture Awards 2020, CIDB QLASSIC 2020 High Achievement, High rise Residential Development (The Olive @ Sunsuria City), The Proximity Award on Best Integrated Development – Sunsuria Forum at Starproperty 2020 and other notable accolades such as Focus Malaysia’s Best Under Billion Awards 2019’s Best Revenue Growth, Best Profit Growth, and the awards’ Overall Winner for 2019, The Cornerstone Award on Best Landed Development for Monet Residences by Starproperty.my Awards 2019, Property Insights Prestigious Developers Awards (PIPDA) 2018 for Best Office Development, Best Small Homes Development for Bell Suites by Starproperty.my Awards 2018, CHT Pursuit of Excellence Developer Property Award 2018, Highest Returns to Shareholders Over Three Years (Property) at The Edge Billion Ringgit Club Corporate Awards 2017, The Edge Top 30 Property Developers Award 2016-2017, Best Township Development by iProperty.com Malaysia People’s Choice Awards 2016 and Best Sustainable Township Development 2016 by Property Insights.
This content is provided by Sunsuria Berhad
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