Radium Development Acquires Prime Bandar Ampang Parcel for RM45 Million

"Radium Development acquires a 2.56-acre parcel in Bandar Ampang for RM45 million. The RM470 million GDV transit-oriented project will include 1,128 residential units and commercial spaces, supporting urban sustainability in Klang Valley."

Kuala Lumpur, 03rd Dec 2024, 10.45am - Radium Development Bhd has purchased a 2.56-acre leasehold parcel in Bandar Ampang, Selangor, for RM45 million through its subsidiary Mayang Sepakat Sdn Bhd. This marks the developer's first project outside Kuala Lumpur, aligning with its expansion strategy to strengthen its presence in key Klang Valley locations.

The site, located near Kuala Lumpur City Centre and 350m from the Cempaka LRT Station, offers a transit-oriented development (TOD) opportunity. Plans for the mixed-use project include 1,128 residential units—340 of which will be affordable Service Apartment Mampu Milik units—and commercial spaces, with an estimated gross development value (GDV) of RM470 million.

Radium will finance the acquisition using internal funds and bank loans. Group managing director Datuk Gary Gan Kah Siong stated, “This acquisition supports Radium’s vision to deliver sustainable, accessible urban living spaces, catering to the growing population in Klang Valley’s growth corridors.”

With direct access to major highways and public transit, the development reinforces Radium's commitment to creating well-connected, high-value properties that meet market demand.

The project is poised to enhance Radium's portfolio, focusing on urban sustainability and long-term shareholder value.