Mah Sing to develop Bandar Baru Salak Tinggi landed homes

KUALA LUMPUR: Mah Sing Group Bhd will develop 100 acres of land in Bandar Baru Salak Tinggi into affordable landed homes with an estimated gross development value of RM656mil.

This comes after the property group's subsidiary, Oasis Garden Development Sdn Bhd, accepted the counter offer approval letter from the Sepang District/Land Office for the alienation of the 100 acres for RM95.83mil, it said in a filing with Bursa Malaysia today.

The residential development will be named M Senyum and comprise mainly double-storey terrace house with indicative land sizes of 18X65 and 20X70.

The units have an indicative starting price of RM399,000.

M Senyum is expected to be developed over a span of five years with registration of interest and launching targeted for the second half of 2021.

"This also augurs well for the Group’s quick turnaround strategy, which will allow Mah Sing to meet current market demand from genuine first home buyers and upgraders from matured townships nearby.

"The Group holds high prospects of the land in view of its good connectivity, established catchment and ready amenities within the vicinity," it said in a statement.

The mid-range products of M Senyum are expected to attract a large catchment of home upgraders as this development is nearby to established townships such as Kota Warisan, Bandar Baru Nilai, Dengkil, Putrajaya and Cyberjaya.

The affordable price point would also attract home buyers who are considering new properties in Seremban, as the new development would provide them a Klang Valley address.
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