KUALA LUMPUR: Mah Sing Group Bhd
has acquired a 275-acre freehold parcel in Semenyih for the development of M Legasi 2, an extension of its existing M Legasi township, for about RM273.5mil.
In a statement, the property developer said the land - acquired from Petaling Garden Sdn Bhd, a subsidiary of SP Setia Bhd - comprises two adjoining parcels of freehold land with a combined gross area of about 305 acres, adjoining its existing 500-acre M Legasi township. With the net developable area of 275 acres to be acquired by Mah Sing, the purchase consideration translates to a land cost of about RM20.60psf based on the gross land area.
"The proximity of this new parcel to M Legasi allows us to refine our masterplan to better suit the market’s evolving needs and offer a more comprehensive range of homes and amenities," said Mah Sing founder and group managing director Tan Sri Leong Hoy Kum.
He added that the new land’s advantage lies in its ready infrastructure which enhances accessibility and reduces the lead time for development.
"M Legasi 2 will build on the success of our landed and township developments such as M Legasi, M Senyum in Salak Tinggi, M Aruna, M Panora and M Residence 1&2 in Rawang, Southville City in Bangi and Meridin East in Johor,” he added.
Based on the group’s preliminary masterplan, approximately 175 acres of the land are earmarked for mixed residential and commercial development, with an estimated GDV of approximately RM1.7bil, subject to detailed design and approvals from the relevant authorities.
According to the preliminary plans, M Legasi 2 will offer two-storey superlink, linked semi-detached homes and semi-detached homes, alongside serviced apartments and shop lots.
The development will be designed to cater to first-time homebuyers as well as young and growing families.
As for the remaining 100 acres of land, the group said it is exploring potential strategic options for strategic partnerships or collaborations or other opportunities with institutional, industry, or community partners.
The project is expected to be developed over eight years, with registration of interest to begin in 2026 and commencement expected in 2027.
With this acquisition, Mah Sing's prime landbank has increased to 5,697 acres with total remaining GDV and unbilled sales of RM32.37bil.
