OSK Property adds 98 acres near Sungai Petani for RM40.7m
OSK Property Holdings Bhd paid RM40.69 million for 98.33 acres of freehold land in Bandar Sungai Petani, Kedah, raising its Kedah land bank to 3,410 acres.
Source: OSK Holdings Berhad · August 6, 2026 at 10:11 AM · AI-assisted report
Single-source
KUALA LUMPUR, 6 AUGUST 2026 —
KUALA LUMPUR, 6 Aug 2026 – OSK Property Holdings Bhd has acquired 98.33 acres of freehold land in Bandar Sungai Petani, Kedah, for RM40.69 million, expanding its land bank in the state to 3,410 acres.
The purchase, made through OSK Properties Sdn Bhd, a subsidiary of OSK Property Holdings, follows the group’s strategy of consolidating land in mature growth corridors. The parcel is adjacent to Bandar Puteri Jaya, OSK Property’s flagship township, and borders Yarra Park, positioning it as a natural extension of the existing development.
OSK Holdings’ Deputy Group Managing Director Ong Ju Xing said the acquisition strengthens the group’s presence in Sungai Petani, a key market for affordable housing. “This strategic step advances our long-term growth plans in Kedah, building on the success of Bandar Puteri Jaya,” he said.
The land benefits from strong connectivity to major hubs such as Gurun, Alor Setar, Butterworth and Kulim, supported by established infrastructure including schools, retail outlets, healthcare facilities and public services. OSK Property plans to develop a mixed township featuring double-storey terrace homes, townhouses and apartments, with an estimated gross development value (GDV) of RM489 million.
The project targets first-time homebuyers, aligning with the group’s focus on affordable housing. OSK Property’s expansion in Sungai Petani reflects resilient demand in the region, driven by a growing economic base and established catchment area.
The acquisition reinforces OSK Property’s land bank strategy in mature corridors with existing infrastructure. The development is expected to contribute to the group’s earnings over the medium to long term, supporting sustainable community growth and stakeholder value.
Separately, OSK Holdings has warned the public about fraudulent websites and agents falsely claiming to represent the group across its property, financial services, industries and hospitality sectors. The company urged investors to verify information only through its official website, oskgroup.com, and associated verified channels.
Related: Kuala Lumpur
Malaysia Impact
Global development — watch for knock-on effects on oil prices, the ringgit, and KLCI risk sentiment.