Mah Sing close to developing RM3.3bil township

The property developer said the SPAs for the proposed acquisition of 202.34ha had become unconditional.

KUALA LUMPUR: Mah Sing Group Bhd has moved a step closer in its plan to develop an integrated township in Beranang, Selangor, with an estimated gross development value of RM3.3bil, following the fulfilment of the conditions precedent of the land sale and purchase agreements (SPAs).

In a filing with Bursa Malaysia yesterday, the property developer said the SPAs for the proposed acquisition of 202.34ha, where the township will be located, had become unconditional.

The land was acquired from Petaling Garden Sdn Bhd for RM392.04mil by Mah Sing’s wholly-owned subsidiaries Mestika Bistari Sdn Bhd, Grand Prestige Development Sdn Bhd, and Elite Park Development Sdn Bhd.

The subsidiaries signed three interconditional SPAs with the vendor on June 19, 2023, for three parcels of freehold land.

The Glengowrie Estate will be developed with double-storey landed homes and commercial lots. — Bernama