Parkwood Holdings Bhd has acquired five parcels of freehold land in Rawang totalling approximately 13ha for a gross amount of RM30.9 million.

In a statement, Parkwood said it plans to develop this cluster of lands into a contemporary residential enclave featuring modern living with sustainability and community connection.

The land, strategically located between Kuala Lumpur and Rawang, offers excellent connectivity via major highways including the North-South Highway, LATAR Highway and Guthrie Corridor Expressway, enabling the residents to enjoy close proximity to the city while benefitting from the tranquillity of the area, the Templer Park Forest Reserve.

This acquisition will contribute positively to the growth of the group's property development business.

Parkwood expects to launch this development by the third quarter of 2026.