KUALA LUMPUR: Gamuda Bhd’s subsidiary, Gamuda DC Infrastructure Sdn Bhd, has signed an agreement to acquire 157.42 hectares of freehold land in Port Dickson for RM424.4 million. The acquisition aims to facilitate development related to cloud and data center infrastructure.

According to BERNAMA News Agency, the regional engineering, property, and infrastructure company announced the acquisition through a Bursa Malaysia filing. The company plans to fund the purchase using internally generated funds, with the transaction expected to conclude by the end of July 2025. This strategic move underscores Gamuda’s focus on expanding its infrastructure capabilities in the burgeoning cloud and data services sector.

The seller, West Synergy Sdn Bhd, is a 60 percent-owned indirect subsidiary of MUI Properties Bhd. In a separate filing, MUI Properties revealed that the sale is anticipated to yield a one-off estimated net gain of RM206.13 million, enhancing its net assets by RM123.68 million. The disposal aligns with the group’s objective to monetize its land bank and bolster its financial standing.

MUI Properties plans to reinvest part of the proceeds from the sale into acquiring new land banks or properties in prime locations, aiming to diversify its portfolio and sustain long-term growth. The group intends to explore fresh opportunities that will support its strategic ambitions.

Trading of MUI Properties’ shares was temporarily suspended pending this announcement and is scheduled to resume tomorrow. The shares were last traded at 43.5 sen each.