KUALA LUMPUR: Mah Sing Group Bhd’s wholly-owned unit, Major Land Development Sdn Bhd, has entered into a sale and purchase agreement with Pink Forest Sdn Bhd for the acquisition of 2.12 hectares of freehold land along Old Klang Road for RM112.97 million. The acquisition marks a strategic move by Mah Sing to expand its development portfolio in a prime location.

According to BERNAMA News Agency, the land is estimated to have a gross development value of RM660 million and will be transformed into M Aurora, a transit-oriented development. This project will feature serviced apartments with unit sizes beginning from 702 square feet, with indicative prices starting at RM468,800. Additionally, the development will include retail spaces with convenient drive-through units, catering to modern urban lifestyles.

Mah Sing stated that this acquisition is the fourth land purchase by the group this year. The company plans to use internally generated funds and bank borrowings to finance the acquisition and development. The
completion of the proposed acquisition is anticipated by the first half of 2025, subject to any unforeseen circumstances. This strategic exercise is expected to positively impact the group’s future earnings, reinforcing Mah Sing’s growth trajectory in the property development sector.