KUALA LUMPUR (April 17): Sunsuria Bhd (KL:SUNSURIA) signed an agreement with a unit of the Employees Provident Fund for residential development rights in Kwasa Damansara.

Under the agreement with Kwasa Land Sdn Bhd, Sunsuria will pay about RM88.63 million for the 9.46-acre land in the township, Sunsuria said in an exchange filing. The upcoming development will feature 520 landed homes and condominium units with an estimated gross development value (GDV) of RM492 million, it said.

“It is with great enthusiasm and optimism that we welcome Sunsuria to our list of distinguished partners who have chosen to work with us in building Kwasa Damansara,” Kwasa Land managing director Datuk Adenan Md Yusof said in a joint statement.

The project will be delivered in phases, with the first phase slated for launch in the third quarter of 2026. The entire Kwasa Damansara covers more than 2,200 acres of mixed development that represents Klang Valley’s last significant greenfield project.

“Our development in Kwasa Damansara will offer a thoughtful mix of terraced housing and high-rise residences, designed to support multi-generational living,” said Sunsuria’s chief executive Tan Wee Bee.

To date, Kwasa Land has granted development rights to 16 partners for 780 acres within the Kwasa Damansara, or about 59% of the township's total saleable land area of 1,331 acres with an estimated GDV of nearly RM40 billion.

Sunsuria shares paused for the midday trading break at 39 sen on Thursday, valuing the group at RM349 million ahead of the announcement.

The article has been amended for accuracy.