OSK Buys Subang Jaya Land from Tropicana for RM44m, Plans RM427m Serviced Apartment Project

"OSK acquires 3.3-acre land in Subang Jaya from Tropicana for RM44m to develop RM427m serviced apartments under Tropicana Metropark."

Kuala Lumpur, 01st Octorber 2025, 11.58am - OSK Holdings Bhd has announced the acquisition of a 3.3-acre parcel of land in Subang Jaya from Tropicana Corp Bhd for RM44.34 million, with plans to develop serviced apartments valued at RM427 million.

The purchase was made through OSK’s property arm, OSK Property Holdings Bhd, which signed a sales agreement with Tropicana’s wholly owned subsidiary, Tropicana Metropark Sdn Bhd. The land is strategically located within the Tropicana Metropark masterplan township, an established mixed-use development in Subang Jaya.

In a statement, OSK said the proposed development will focus on serviced apartments designed to appeal to young homebuyers seeking lifestyle-oriented and well-connected residences.

“Subang is one of the most mature and vibrant townships in the Klang Valley, offering excellent connectivity and a strong ecosystem of amenities,” said OSK deputy group managing director Ong Ju Xing. “We see continued demand for affordable yet quality developments, especially among younger buyers and investors.”

The group said the acquisition enhances OSK Property’s footprint in Subang Jaya while expanding its land bank in high-demand locations, ensuring a sustainable pipeline of projects.

As of end-June, OSK reported unbilled sales of RM1.3 billion. Its total land bank spans 2,475 acres with a combined gross development value (GDV) of RM18.5 billion, covering the Klang Valley, Penang, Kedah, Negeri Sembilan, and Melbourne, Australia.

On Tuesday, OSK’s shares rose three sen or 2.24% to close at RM1.37, valuing the group at RM4.31 billion. The counter has gained over 17% year-to-date. Tropicana’s shares closed unchanged at RM1.19, with a market capitalisation of RM2.99 billion.