Ayer Holdings Bhd has announced plans to acquire two freehold land parcels totaling 9.11 acres along Jalan Kuchai Lama in Kuala Lumpur for RM138 million. The acquisition is proposed to be made from Bukit Cemerlang Sdn Bhd, according to a filing with Bursa Malaysia.

The company indicated that the purchase aligns with its strategic objective to expand its property business by increasing its landbank and pursuing additional development projects. The location in Kuchai Lama, situated within the Klang Valley, is considered an established and mature area. Ayer Holdings highlighted that the neighborhood’s diverse population, comprising young professionals and families, supports strong demand for both residential and lifestyle developments.

At this stage, Ayer Holdings has not announced any specific development plans for the acquired land.