Mah Sing moves a step closer towards developing township with RM3.3bil GDV

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KUALA LUMPUR: Mah Sing Group Bhd has moved a step closer in its plan to develop an integrated township in Beranang, Selangor, with an estimated gross development value of RM3.3 billion, following the fulfilment of the conditions precedent of the land sale and purchase agreements (SPAs).

In a filing with Bursa Malaysia today, the property developer announced that the SPAs for the proposed acquisition of 202.34 hectares, where the township will be located, have become unconditional.

The land was acquired from Petaling Garden Sdn Bhd for RM392.04 million by Mah Sing’s wholly-owned subsidiaries Mestika Bistari Sdn Bhd, Grand Prestige Development Sdn Bhd, and Elite Park Development Sdn Bhd.

The subsidiaries signed three interconditional SPAs with the vendor on June 19, 2023, for three parcels of freehold land.

Mah Sing said the township, to be named Glengowrie Estate, will be developed with double-storey landed homes, well planned amenities and commercial lots. – Bernama

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