“Radium Development is acquiring prime land in Kuala Lumpur for RM458 million to expand its property portfolio. The strategic Jalan Cheras site enhances connectivity and growth opportunities.“
Kuala Lumpur, 25th Feb 2025, 11.00am – Radium Development Bhd, through its wholly owned indirect subsidiary Radium J Velodrome Sdn Bhd (RVSB), has proposed to acquire a mixed-use land parcel and two commercial plots in Kuala Lumpur for RM458 million.
The company has signed a conditional sale and purchase agreement with Dupion Development Sdn Bhd, as stated in its filing with Bursa Malaysia today.
This acquisition is in line with Radium’s strategy to expand its property development and investment portfolio by increasing its landbank in strategic locations. The newly acquired land is situated in the well-established Jalan Cheras neighborhood, a vibrant area with a mix of residential, commercial, healthcare, and educational developments. The location also offers excellent connectivity via major expressways and highways, making it highly attractive for future projects.
Radium plans to fund the acquisition through a combination of internally generated funds and bank borrowings, with 70% coming from loans and the remaining 30% from internal resources. The move strengthens Radium’s position in the Kuala Lumpur property market and supports its long-term growth strategy in the real estate sector.
