“This is our second land acquisition for 2019 and reflects Mah Sing’s ability to acquire reasonably priced prime land which is ready for a quick turnaround,” said Mah Sing founder and group managing director Tan Sri Leong Hoy Kum(pic) in a statement.
PETALING JAYA: Mah Sing Group Bhd
has inked agreements for 105ha of prime land in Puchong’s central business district (CBD), with its first acquisition of 35.9ha to be used for its largest integrated mixed development in Malaysia.
According to Mah Sing, the proposed development with an estimated gross development value of RM9.3bil is expected to be completed within 10 years. The group, via its wholly-owned subsidiary Mah Sing Group Ventures Sdn Bhd, entered into a sales and purchase agreement with Huges Development Sdn Bhd yesterday to purchase the land for about RM656.9mil or RM170 per sq ft.
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