Matrix Concepts acquires land in Kulai to support future development pipeline

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27.10.2026

Matrix Concepts acquires land in Kulai to support future development pipeline — Matrix Concepts expands Kulai landbank

Matrix Concepts Holdings Bhd is expanding its landbank in Johor through the proposed acquisition of 57 parcels of land spanning approximately 174.77 hectares in Kulai for RM169.31 million in cash. The move supports the group’s long-term growth strategy and creates scope for a mixed-use development with an estimated gross development value of around RM2.1 billion.

Highlights

Matrix Concepts (Southern) Sdn Bhd signed agreements to purchase land in Kulai with potential gross development value of around RM2.1 billion.
The land acquisition is expected to expand the group’s landbank and support Matrix Concepts’ development pipeline for future projects.
The planned mixed-use development will increase property values, improve infrastructure, and stimulate economic growth and employment opportunities in Kulai.

This article was translated from the original. Read the original version by our correspondent here.

Acquisition details and development plans

According to The Edge Malaysia, citing a filing with Bursa Malaysia, its unit Matrix Concepts (Southern) Sdn Bhd signed separate sale and purchase agreements to acquire the land from corporate owners, individuals and the estate administrators of deceased owners.

The company said the proposed acquisition would expand the group’s existing landbank and support a sustainable development pipeline for future projects. Based on a preliminary feasibility assessment, the proposed mixed-use development has the potential to achieve an estimated gross development value of around RM2.1 billion.

Impact on growth in the Kulai area

Matrix Concepts said the development would complement nearby projects and contribute to the overall growth of the area. The group also sees strong development prospects, supported by a growing industrial ecosystem and ongoing development projects in the area.

The company added that the project is expected to support an increase in property values in the surrounding area through improved infrastructure, accessibility and supporting amenities. In addition, the development is expected to stimulate economic activity, create business and employment opportunities, and generate positive spillover effects that enhance the area’s appeal and sustainability.

In our previous report on Land 33 Bhd, the company proposed acquiring 1.05 acres of land in George Town for RM32.3 million to expand its landbank. The acquisition is expected to be funded through a combination of internal funds and bank borrowings, with the aim of unlocking development potential in a strategic location within a mature residential area.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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