LSH Capital Signs Sale and Development Agreement with RAC for 17.4-acre Subang Jaya Development Land
Kuala Lumpur, Friday, 10th July 2026 – Lim Seong Hai Capital Berhad (“LSH Capital” or “the Group”) today announced that its wholly owned subsidiary, Astana Setia Development Sdn Bhd (“ASDSB”) had entered into a sale and development agreement (“SDA”) with Railway Assets Corporation (“RAC”) for the sale and development of two (2) parcels of land measuring approximately 17.4 acres, located in the vicinity of Subang Jaya, Selangor Darul Ehsan (“Lands”).
The Lands are earmarked for a proposed mixed development comprising up to six (6) residential towers with integrated retail and/or commercial components, carrying an estimated gross development value (“GDV”) of RM1.91 billion. The Lands are envisaged to be developed in phases over an estimated five-year period. The development is expected to serve as one of the catalyst for economic growth and enhanced mobility with integrated connectivity within the transport hub in Selangor. The development will also stimulate construction & construction related activities and provide employment opportunities, while supporting sustainable and inclusive long-term transport-oriented development.
Strategically Connected Within an Established Klang Valley Corridor
The freehold Lands sit within the mature Subang Jaya area, approximately 18 km from Kuala Lumpur City Centre, and are directly served by major arterial routes including the Federal Highway, New Klang Valley Expressway (NKVE), Damansara–Puchong Expressway (LDP) and Shah Alam Expressway (KESAS). The nearby Batu Tiga Komuter Station and Subang Jaya integrated rail interchange connect the Lands to both the Komuter and LRT networks, while Sultan Abdul Aziz Shah (Subang) Airport lies approximately 5 km away. The proximity of these highways and rail infrastructure enhances the connectivity and accessibility of the Lands and allows for higher-density, transit-oriented developments.
The Lands are surrounded by well-established mix of residential, commercial and industrial developments, including Subang Parkhomes, Tropicana Metropark, Taman Mutiara Subang, Subang Jaya SS 19 and the Subang Hi-Tech Industrial Park, as well as the Federal Avenue mixed-use development currently under development by BRDB Developments Sdn Bhd. Nearby retail and lifestyle amenities such as Subang Parade, Nu Empire Shopping Gallery and Sunway Pyramid, alongside Sri KDU International School Subang Jaya and Subang Jaya Medical Centre, further support the catchment. As one of the few remaining sizeable vacant parcels in the immediate vicinity, the Lands offer scarcity value within a well-developed, mature, self-sustaining ecosystem.
The development will draw on the Group's integrated construction and property development capabilities and together with the Group's growing portfolio of ongoing projects, the development is expected to strengthen LSH Capital's earnings visibility over the medium to long term and reinforce its trajectory as a diversified, value-driven construction group.
“This project’s estimated gross development cost (GDC) of RM1.32 billion is expected to add strategic scale to our construction and property pipeline, and also stands as a testament to the trust that partners such as RAC place in LSH Capital’s track record of disciplined execution. We look forward to unlocking the full potential of this landbank to deliver sustainable, long-term value to our shareholders and the communities we serve,” said Tan Sri Datuk Seri Lim Keng Cheng, Non-Executive Chairman of LSH Capital.