“OSK Property buys 14.48 acres in Bandar Country Homes, Rawang, for RM58m to develop a RM1.26b township, marking its first entry into the area.”
Kuala Lumpur, 03rd September 2025, 02.30pm – OSK Property Holdings Bhd, the property arm of OSK Holdings Bhd, has announced its entry into Rawang with the acquisition of three parcels of freehold land valued at RM58 million.
The purchase, made via its 99.93%-owned subsidiary Aspect Dynamic Sdn Bhd, was formalised through a sale and purchase agreement (SPA) filed with Bursa Malaysia on Tuesday.
14.48 Acres in Bandar Country Homes
The land parcels, measuring approximately 14.48 acres, are located within the established Bandar Country Homes township in Rawang, Selangor. They are earmarked for mixed-use development, comprising both residential and commercial components, with an estimated gross development value (GDV) of RM1.26 billion.
This marks OSK Property’s first foray into Rawang, a township benefitting from connectivity to the North-South Expressway and access to amenities including schools, healthcare facilities, and retail outlets.
Affordable Housing & Commercial Demand
According to OSK, the upcoming project is expected to meet demand from first-time homebuyers, young families, investors and professionals. The group said the area’s natural landscapes and compact urban setting are likely to attract both residents and transient workers.
SPA Payment Structure
Under the SPA, the RM58 million consideration is divided into:
- 3% retention sum of RM1.74 million;
- 7% balance deposit of RM4.06 million, payable within seven business days of signing;
- Remaining 90% or RM52.2 million, payable within three months of the SPA or within 10 days of receiving the Economic Planning Unit’s confirmation, whichever is later.
Strengthening Presence in Klang Valley
Deputy group managing director Ong Ju Xing said the acquisition aligns with OSK Property’s strategy of focusing on mature markets with shorter development cycles.
“It is timely for us to enter a new market and participate in the northern Klang Valley growth corridor. This unlocks new opportunities that complement our portfolio while creating lifestyle spaces that benefit the community,” Ong said.
The group expects the land acquisition to be completed by the fourth quarter of 2025, barring unforeseen circumstances.
About OSK Holdings
OSK Holdings Bhd is a diversified conglomerate with businesses in property, financial services, industries, hospitality, and investment holding.
