KUALA LUMPUR: Mah Sing Group Bhd has announced its plan to develop its latest product, M Azura, on four acres of its fifth land deal of the year, which was acquired in Setapak, Kuala Lumpur for RM74.3mil.
M Azura will be the group’s third development in Setapak, along with both M Astra and M Adora, which have been fully sold out.
“We have established and solidified our brand presence in Setapak through the positive reception and success of M Astra and M Adora. In fact, our recent project M Astra was fully sold within a year, reflecting buyers’ appetite and trust in the Mah Sing brand,” Mah Sing founder and group managing director Tan Sri Leong Hoy Kum said.
“This upcoming development, M Azura, marks our third venture in this area. Capitalising on the spill-over demand from both our previous developments, we believe that M Azura will be warmly welcomed by first-time homebuyers and those looking to upgrade in the neighbouring areas,” he added.
M Azura is expected to be a new transit-oriented development with an estimated gross development value (GDV) of RM508mil. As with the rest of Mah Sing’s M series, M Azura will be marketed as an affordable housing development and will be sold at RM396,800.
The development is located near the proposed Mass Rapid Transport Line 3 (MRT3) Rejang Station, LRT Sri Rampai and LRT Wangsa Maju.
Mah Sing’s preliminary plans set M Azura as a residential development comprising two blocks of serviced apartments with built-ups from 700 sq ft to 1,000 sq ft. The target registration of interest for M Azura will be in Q1 2024.
“The encouraging response to our M Series projects reflects the alignment with market demand for quality and pricing. This is evident in the strong take-up rates during our launches and is further underscored by our recent achievement of RM1.8 billion in property sales within the span of nine months. Leveraging on our healthy balance sheet and confidence in our quick turnaround business model, we continue to seek landbanks in Klang Valley, Johor and Penang to expand our residential and industrial development portfolios,” Leong said.
Connected to Jalan Genting Kelang, Middle Ring Road 2, Duke Expressway (DUKE) and Jalan Tun Razak (5km), M Azura is located in the vicinity of matured neighbourhoods such as Wangsa Maju, Setapak Jaya, Kementah, Setiawangsa, Danau Kota and Titiwangsa.
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