Share
- While portions of the land are currently occupied by tenants, Oriental Interest noted that these tenancies are expected to expire by the deal’s completion.
KUALA LUMPUR (Jan 7): Property developer Oriental Interest Bhd (KL:OIB) is expanding its landbank in Selangor through a RM80.77 million cash acquisition of 68.12 acres in Bukit Raja.
The deal was formalised on Dec 31, 2025, via a sale and purchase agreement between Oriental Interest's 70%-owned Myra Land Sdn Bhd and developer SJ Properties Sdn Bhd, according to the group's bourse filing.
The remaining 30% in Myra Land is owned by Pesaka Saujana Properties Sdn Bhd, a related third party, Oriental Interest said. SJ Properties is wholly-owned by Syarikat Permodalan Kebangsaan Bhd.
While portions of the land are currently occupied by tenants, Oriental Interest noted that these tenancies are expected to expire by the deal’s completion.
The RM80.77 million purchase price was determined based on recent market prices for neighbouring properties and the site's development potential, Oriental Interest said.
No formal valuation exercise has been conducted yet, the group said, but noted that Myra Land intends to commission one to meet requirements to submit the deal for approval by the Economic Planning Unit.
The acquisition is to increase its landbank in strategic areas, the group said. “The proposed acquisition will be part of the group’s future expansion with regard to its strength and niche in the property development market in the central region of Peninsular Malaysia,” it added.
Unlock Malaysia’s shifting industrial map. Track where new housing is emerging as talents converge around I4.0 industrial parks across Peninsular Malaysia. Download the Industrial Special Report now.
