KUALA LUMPUR: Mah Sing Group Bhd
has proposed to acquire two parcels of land measuring 8.2 acres with a potential gross development value of approximately RM726mil for RM85.9mil.
In a filing with Bursa Malaysia, the developer said its wholly owned subsidiaries, Supreme Springs Sdn Bhd and Legend Grand Development Sdn Bhd had entered into agreements with Millennium Acres Sdn Bhd for the acquisition.
Supreme Springs has entered into a conditional sale and purchase agreement (SPA) for the proposed acquisition of land in Puchong Perdana, Selangor measuring approximately 3.844 acres (Parcel 1) for RM40.18mil.
Meanwhile, Legend Grand has entered into a conditional SPA to acquire land measuring 4.369 acres (Parcel 2) in Puchong Perdana, Selangor for RM45.67mil.
“Based on preliminary plans and subject to authorities’ approval, the estimated combined gross development value (GDV) of the new development to be named M Terra (for Parcel 1) and M Hana (for Parcel 2) is approximately RM726mil,” Mah Sing said.
It added that M Terra would be a residential development with 2-bedroom and 3-bedroom units, with indicative built-ups of 552sq ft, 769 sq ft and 1,005sq ft, and to be affordably priced with indicative starting price from RM250,000.
M Hana is planned as a mixed-use development which will also feature some retail lots. They are targeted for registration of interest in the second half of 2023.
