Gabungan AQRS to jointly develop Bangi land for project worth RM600mil

PETALING JAYA: Gabungan AQRS Bhd has entered into a joint venture agreement with Rising Charm Sdn Bhd to jointly develop three parcels of land in Bangi, Selangor for a proposed commercial development.

In a filing with Bursa Malaysia, the construction and civil engineering services firm said the development will comprise residential, commercial and retail components with all other ancillary amenities, common facilities, utilities, and supporting infrastructures necessary.

Gabungan AQRS said the total gross development value of the project is estimated at RM600.47mil.

It said the project is targeted to be launched by the third quarter of calendar year 2027.

“The proposed joint venture represents a strategic collaboration between both parties to unlock the development potential of a parcel of land located in Bangi, Selangor, through a structured partnership that optimises resources and supports effective project delivery.

“The area forms part of an emerging growth corridor within southern Selangor, supported by improving connectivity and increasing development activity in the surrounding vicinity.”

Gabungan AQRS said the development is also expected to be funded via a combination of internally generated funds, sales of properties and/or bank borrowings.