Gamuda Bhd has acquired leasehold land in Rawang for RM620 million cash. The land measuring 724 acres was acquired from TPPT Sdn Bhd, which is a property developer. The land is classified as agricultural land with expiry tenures ranging from 2092 to 2095 for various parcels of the land. In an exchange filing yesterday, Gamuda said that it will finance the acquisition through internally generated funds and/or bank borrowings and its expects the deal to be completed by the third-quarter of 2013, its exchange filing yesterday said. Gamuda, which is involved in property development, construction, water treatment and other civil engineering sectors, said the purchase will increase its landbank and plans to develop the land into a premier residential and commercial enclave. Gamuda has been successful in building integrated townships such as Kota Kemuning, Bandar Botanic and Horizon Hills in the past.