From left: Mah Sing deputy group chief executive officer & executive director Lionel Leong, Mah Sing group chief executive officer and executive director Datuk Voon Tin Yow, Team Keris Bhd group executive chairman Datuk Lee Seng Hee and Team Keris deputy chairman Datin Irene Lee.
KUALA LUMPUR: Mah Sing Group Bhd
has secured its fourth land acquisition of the year, acquiring 5.24 acres of prime freehold land on Old Klang Road, Kuala Lumpur, for RM113mil.
In a statement, Mah Sing said that following the success of the fully sold and handed-over M Oscar in April 2024, the new M Aurora project will address spillover demand as a vibrant transit-oriented development (TOD) with an estimated gross development value (GDV) of RM660mil.
Mah Sing said M Aurora, located near Jalan Gasing, enjoys a strategic position close to Petaling Jaya, making it an ideal choice for urban dwellers seeking both city access and suburban comfort. The development is designed to appeal to working adults, families, and homebuyers looking for an upgrade.
Subject to authorities' approval, the preliminary plans for M Aurora include serviced apartments and retail spaces, including drive-through units.
M Aurora offers two, three, and four-bedroom layouts, with sizes ranging from 702 sqft to 1,005 sqft, and starting prices from RM468,800.
Registration for M AURORA is expected to open in the first quarter of 2025. The development will feature Mah Sing’s signature lifestyle concept with an added focus on well-crafted facilities and finishes, tailored for families and home buyers seeking modern, living spaces.
“This new land acquisition along Old Klang Road, near Jalan Gasing, taps into the potential of a well-established and matured neighborhood. The prime location connects both Petaling Jaya and KL city center.
“With its proximity to the Bukit Gasing hiking trail, residents will be able to enjoy a green environment and outdoor activities just short distance from home, adding to the development’s appeal for those seeking both city convenience and natural leisure options. We are confident this project will replicate the success of the fully sold out M Oscar,” founder nd group managing director Tan Sri Leong Hoy Kum said.
With a strong balance sheet and approximately RM911.5mil in cash and bank balances as of June 30, 2024, Mah Sing is positioned to pursue further strategic acquisitions across key regions, including Kuala Lumpur, Klang Valley, Johor, and Penang.
“Our robust financial position, with low net gearing of 0.10 times, enables us to confidently pursue growth opportunities across varied project types,” Leong said.
