KUALA LUMPUR: Mah Sing Group Bhd has bought its third land purchase for 2019. They acquired 4.52 acres prime land in Wangsa Melawati, Mukim Setapak for RM61.97 million.
The other two that they had acquired this year were M Oscar (Kuchai Lama) and M Luna (Kepong).
According to the preliminary plans, M Adora, their new development will have an estimated gross development value (GDV) of RM378 million and it is planned for two blocks of affordable residential development.
The group is still looking for more strategically locations particularly in the Klang Valley. Mah Sing’s expansion drive is underpinned by its healthy balance sheet with cash and bank balances of RM1.3 billion for the quarter ended March 31, 2019.
This new project will be developed over a span of four years, offering the most affordable units. It would have an indicative built up from 850 sq ft and indicative starting price from RM468,000. Mah Sing founder and group managing director Tan Sri Leong Hoy Kum believes M Adora will be able to match the current market demand for affordable housing that comes with ample amenities.