Aman Cove buys 69.95 acres in Kulim Hi-Tech Park for RM67m

Aman Cove Sdn Bhd, a joint venture of Kedah developers Aman Setia Group and Imperio Group, signed a sale and purchase agreement on 8 September 2025 to buy 69.95 acres of commercial and residential land inside Kulim Hi-Tech Park (KHTP) from Kulim Technology Park Corporation (KTPC) for RM67 million, about RM22 per sq ft (our calculation).

The deal

• The land: 69.95 acres along the main Perdana Highway, close to Kulim Hospital, UniKL and the polytechnic
• The price: RM67 million, about RM0.96 million an acre or RM22 psf (our calculation)
• The seller: KTPC, the corporation that develops and runs KHTP. The signing at the KHTP Business Centre was witnessed by the park's own local authority (PBT Taman Perindustrian Hi-Tech Kulim)
• Not disclosed: the lot numbers, the tenure, the payment terms and when the transfer completes

The township

• Size: an estimated gross development value of RM650 million, about RM9.3 million per acre of land (our calculation)
• Timing: built in phases over 12 years, with a launch planned every year. Groundbreaking is targeted for the first quarter of 2027
• What it will have: homes and shops with community amenities including a mosque and a social park
• Who it is for: the KHTP workforce and neighbours from Lunas, Butterworth and Bukit Mertajam. Aman Cove director Lee Woei Nen said KHTP today is "largely industry heavy or purely residential", and the township is meant to fill that gap

Who is behind it

• Aman Setia Group: its chairman, Datuk Paduka Ammar Datuk Shaikh Mahmood Naim, signed for the joint venture. Aman Setia also builds Aman Parc, a 97-acre freehold township in Sungai Petani, where it signed Giant as the supermarket anchor in October 2025
• Imperio Group: the other Kedah-based partner. Aman Cove's directors named at the signing were Lee Woei Nen and Ooi Inn Kee
• KTPC: group chief executive Datuk Mohd Sahil Zabidi said KHTP's expansions could support tens of thousands of high-value jobs over the next five years. One of them is AT&S's RM1.23 billion plant expansion (our report)