Gamuda Bhd's whollyowned subsidiary Gamuda Land HCMC Sdn Bhd is acquiring a 60% stake in Sai Gon Thuong Tin Tan Thang Investment Real Estate Joint Stock Company (Tan Thang Company) for US$82.8 million (RM275.14 million) cash from Sai Gon Thuong Tin Real Estate Joint Stock Company (Sacomreal). Tan Thang Company currently holds the rights for the investment and construction of a parcel of land located at Ho Chi Minh City. The land, measuring 825,216.5 sq metres in Son Ky Ward, Tan Phu district, will be developed into a project comprising medium-end and premium residential apartments, a sports complex and an educational complex.