PETALING JAYA: Gamuda Bhd
’s RM360mil cash purchase price for a 532-acre parcel of land next to its 810-acre Gamuda Gardens township in Rawang is deemed as fair, says Kenanga Research.
This is from a land-to-gross development value (GDV) perspective and the price per square foot (sq ft) standpoint, the research house said in its latest report.
Compared with the typical land/GDV transactions of about 15%, Kenanga Research said “this new plot of land implied land-to-GDV of 11% is reasonable, given its larger plot size”.
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