KUALA LUMPUR (May 5): Gamuda Bhd (KL:GAMUDA) has sold a 389-acre plot of land in Port Dickson, originally purchased for data centre development, to Google affiliate Pearl Computing Malaysia Sdn Bhd for RM455.23 million. The land, which Gamuda had acquired for RM424.4 million in December 2024, will be used for a major data centre project, with Gamuda set to oversee RM1 billion worth of development.
In a filing with Bursa Malaysia on Monday, Gamuda said that on May 2, 2025, Gamuda DC Infrastructure Sdn Bhd signed a sale and purchase agreement (SPA) and external infrastructure contract with Pearl Computing.
The deal involves selling about 389 acres of land for RM455.23 million and undertaking enabling works, including earthworks and external infrastructure, for the data centre development, valued at RM1.01 billion.
The development includes a new water treatment plant with a capacity of 65 million litres per day, set to be completed by the second quarter of 2027. Additionally, an off-river storage facility will be developed by the fourth quarter of 2028 to ensure a steady water supply during dry periods and reduce pollution risks. Pipelines will also connect the plant to the service reservoir for the data centre.
“The above encapsulates the company’s one-stop solution for the fast-growing data centre sector, whereby the company delivers top-to-toe land development including civil works, utility connections, and water infrastructure to deliver a ready to-build platform for hyperscale clients,” the engineering and construction company said in the bourse filing on Monday.
It said in a statement that the approach, supported by the company’s engineering expertise and advanced industrialised building system, speeds up construction with precision manufacturing. It reduces risks, shortens timelines, ensures quality and cost control, making the company a key partner in the digital economy.
The land sale is expected to be finalised in the fourth quarter of 2025, once all conditions are met or waived as per the SPA terms.
Gamuda shares were down eight sen or 1.8% at RM4.32 at Monday’s noon break, giving the company a market capitalisation of RM24.9 billion. The stock has fallen 8.3% year-to-date.
References From: https://theedgemalaysia.com/node/753952
