KUALA LUMPUR: Mah Sing Group Bhd will be developing a 100-acre leasehold land in Bandar Baru Salak Tinggi, comprising mainly affordable landed homes with a gross development value (GDV) of RM656mil.
This is Mah Sing’s first land deal in 2021.
In a Bursa filing, the group said on Feb 19,2021, its wholly-owned subsidiary Oasis Garden Development Sdn Bhd had accepted a counter offer approval letter by the Sepang District/Land Office for the alienation of the 100-acre land for a RM95.83mil.
The approval letter was issued pursuant to an offer from Oasis Garden dated August 3,2020.
Based on preliminary plans, the development to be named as M Senyum will consist of mainly double-story terrace houses sized on 18ft x 65ft lots, and 20ft x 70ft lots, with prices starting from RM399,000.
M Senyum is expected to be developed over five years, with registration of interest and launching targeted to be in the second half of 2021.
The group said the new development augurs well for its 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.
The mid-range products of M Senyum are expected to attract home upgraders as it is near 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.