Selangor Dredging Bhd has received an interest-free one-year extension to complete its RM63 million acquisition of a Subang commercial land parcel, keeping a proposed high-rise serviced apartment plan in play while pushing the completion date to 12 August 2027. EdgeProp reported that the extension was disclosed in the developer's Bursa Malaysia filing dated 12 August 2026.
What Changed In The Deal
SDB Subang Development Sdn Bhd, a wholly owned subsidiary of Selangor Dredging, signed the original sale and purchase agreement with Hectare Square Sdn Bhd on 13 January 2026. The latest agreement extends the completion period from 13 August 2026 to 12 August 2027, without interest. Under the original terms, further extensions would have carried interest of 8% per annum on the outstanding final tranche.
The site measures 1.214 hectares, or about three acres, at Lot 541, Jalan Subang 2, Taman Industri Penaga. Using the stated land size, the RM63 million purchase price works out to roughly RM482 per sq ft of land. EdgeProp also reported an independent valuation of RM59 million by PA International Property Consultants (KL) Sdn Bhd dated 13 January 2026.
Why It Matters For Subang
The land sits in Mukim Damansara, Petaling district, with an address in Taman Industri Penaga. Selangor Dredging has said the site is near USJ 7 LRT station and sits within a transit-oriented development zone under local planning guidelines. That makes the deal relevant for readers comparing future high-rise supply with existing Selangor condos for sale and broader Selangor property listings.
The proposed project is not a launch yet, so Rummah is not creating a directory page for it. The plan described so far is a high-rise serviced apartment development with an estimated gross development value of about RM507 million, but detailed plans have not been finalised. Until formal launch material appears, this remains a landbank and planning story, not a buyer-facing new-launch page.
The Financing Signal
The payment structure is also worth noting. EdgeProp reported that RM12.6 million is to be settled through a contra arrangement involving unsold units from SDB group projects, while the RM42.2 million final tranche is payable in cash. The interest-free extension therefore gives SDB more time to complete the transaction without adding finance cost under the old extension formula.
- For buyers, the useful takeaway is to watch launch timing rather than assume immediate new supply.
- For agents, the site reinforces the appeal of transit-linked redevelopment land in mature Selangor locations.
- For developers, the RM482 psf land cost is a reference point for urban infill economics near Subang and Petaling Jaya.
The next meaningful update should be either completion of the acquisition or clearer planning details. Until then, readers can track live Selangor supply through Rummah and compare it with future Selangor new launches as they come to market.
