HCK Capital buys third Setia City BizPark parcel for RM19.35m

• With this deal, HCK’s total investment for Plots 1, 2 and 3 in the same development rises to RM57.99 million. 

PETALING JAYA (Aug 12): HCK Capital Group Bhd is acquiring a freehold parcel in Setia City BizPark, Selangor, for RM19.35 million through its indirect wholly-owned unit, Reside Capital Sdn Bhd.

The land, known as Plot 3, measures about 1.23 acres and forms part of a master-planned commercial development in the Bukit Raja area.

With this deal, HCK’s total investment for Plots 1, 2 and 3 in the same development rises to RM57.99 million. 

The purchase price for Plot 3 was agreed on a willing-buyer, willing-seller basis, taking into account its market value of RM19.89 million based on an independent valuation by a registered valuer, and its strategic location. The land will be delivered vacant and free from encumbrances.

The seller is Bandar Setia Alam Sdn Bhd, a subsidiary of S P Setia Bhd. Payment will be made in stages, with 10% already paid upon signing the sale and purchase agreement. 

The balance will be settled according to development milestones, including master plan approval, completion of earthworks, issuance of a separate title, and delivery of vacant possession.

HCK will fund the purchase through a combination of internal funds and bank borrowings. The group, whose core business includes property development, said the acquisition supports its strategy to grow its landbank in Selangor’s prime growth corridors, creating opportunities for future projects with strong earnings potential.

Setia City BizPark is a mature commercial precinct with excellent highway access and surrounding established townships. 

HCK expects the location and strong demand for commercial properties in the area to boost its earnings over the medium to long term.
The acquisition is targeted for completion in the first half of 2026.

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