Sunway to acquire more land

KUALA LUMPUR: Sunway Bhd is looking to acquire more land with good connectivity to new public infrastructure for transit- oriented development (TOD), said Managing Director of Property Division for Malaysia and Singapore, Sarena Cheah.

TOD refers to a type of urban development that maximises the amount of residential, business and leisure space within walking distance of public transport.

Cheah said the group had acquired five different plots of land in the Klang Valley, including in Kajang and Wangsa Maju, since January worth RM5.5 billion.

“It is important as we want to diversify our locations which are very well served by roads and public infrastructure such as the Mass Rapid Transit (MRT) and Light Rapid Transit (LRT).

“So, we are looking for more land for TOD development, as when the MRT and LRT projects are completed, it will add value,” she told reporters after the announcement on the opening of Sunway Hotels & Resorts’ newest venture, the Sunway Velocity Hotel on Sept 20. — Bernama