PGF Capital Bhd is acquiring two parcels of land totaling 9.608 acres in Kulim Hi-Tech Park, Kedah, for a mixed development project valued at RM600 million.
The land, purchased through its joint venture company Nexel Development KHTP Sdn Bhd, will host a condominium, hotel, serviced residences, and commercial elements.
PGF is buying the land from Kulim Technology Park Corporation Sdn Bhd for RM12.7 million, to be funded by internal funds and bank borrowings.
The project, expected to complete by early 2026, will be developed in three phases over six years, addressing the growing demand for housing and commercial spaces in the area, driven by the expansion of Kulim Hi-Tech Park. –TMR