Mah Sing to buy land

Posted on | October 8, 2009

By BUSINESS TIMES

MAH Sing Group Bhd has received the Economic Planning Unit (EPU) approval to buy prime land in Cyberjaya, on condition the paid-up capital of wholly-owned Myvilla Development Sdn Bhd, is raised to at least RM100,000.

The deal involves the purchase of freehold land, measuring about 466,391 sq m, from Cyberview Sdn Bhd and Setia Haruman Sdn Bhd for RM130.5 million, with the option to buy an adjacent 25,570 sq-m commercial land.

Mah Sing plans to build medium to high-end houses under the brand Garden Residence, with an estimated gross development value of about RM690 million.

You might also like

Mah Sing proposes to buy land By BUSINESS TIMES MAH SING Group Bhd has proposed to buy two parcels of prime land in Section U5,...

Mah Sing completes purchase of land By BUSINESS TIMES MAH Sing Group Bhd has completed the purchase of a 141,084 sq m prime freehold residential...

Mah Sing to start first overseas project within two years By BERNAMAKUALA LUMPUR: Mah Sing Group Bhd expects its first overseas property project to start in the...

Mah Sing plans Penang condo By BUSINESS TIMESPROPERTY developer Mah Sing Group Bhd (8583) plans to develop an upscale condominium...