KUALA LUMPUR (Nov 1): Parkwood Holdings Bhd (KL:PARKWD), via its wholly owned subsidiary Parkwood Templers Sdn Bhd, has acquired five parcels of freehold land in Rawang, totalling 32.3 acres (13.1ha), for RM30.9 million.

In a statement on Friday, Parkwood said it has plans to develop this cluster of land into a contemporary landed residential enclave. The development is expected to be launched by the third quarter of 2026.

It added that this acquisition will contribute positively to the growth of the group's property development business. "This acquisition is aligned with Parkwood's business growth strategy, which aims to develop modern master planned [communities] that harmonises sustainable living with community-focused lifestyle, nature, and accessibility."

Parkwood executive chairman Lim Chin Sean said the group is committed to drive sustainable momentum in expanding its land bank in Malaysia through strategic acquisitions. “This latest acquisition not only positions us to meet the rising demand for high-quality residential properties but also capitalises on the serene and private environment that Rawang offers.

"We are optimistic that this will contribute positively to our future earnings and subsequently deliver landed urban residential development that seamlessly blends urban convenience and tranquil lifestyle for the residents."