Creating unique lifestyle environments

GAMUDA Land is the latest Malaysian developer to head to Singapore after it was invited by a local real estate company to add value to a joint-venture set up to develop land in Toa Payoh. A consortium comprising Gamuda Land and two other developers put in the highest tender price of S$345.86 million among 14 bidders for a 12,000-square-metre leasehold site that can be developed into an estimated 535 homes.

"The acquisition and proposed Toa Payoh development represent an excellent opportunity for the group to make its maiden presence felt in Singapore and to participate in a development which is strategically located in a matured residential area," Gamuda said in a recent statement, noting its proximity to MRT lines and stations. "The proposed Toa Payoh development is expected to contribute positively to the future earnings and thereby improve shareholders' value over the medium to long term," the statement added.

Apart from its foray into Singapore, Gamuda Land - one of the top property developers in Malaysia - has also ventured to Australia and Vietnam. It acquired a 1,435 sq m plot of land in Melbourne - located four kilometres away from the central business district - that will be developed into residential apartments. In Vietnam, the company transformed a combined plot of over 1,000 acres into integrated township developments with residential parks and lakes.