Mah Sing has been on an active land acquisition drive since 2023.
PETALING JAYA: Mah Sing Group Bhd (Mah Sing) has completed the acquisition of 500 acres of freehold land located in Glengowrie, Semenyih, from S P Setia Bhd for RM392mil in cash.
Mah Sing said the purchase is for the development of township M Legasi with an estimated gross development value (GDV) of RM3.3bil. The first phase comprises double-storey landed homes, with an indicative price starting from RM546,800 and is now open for registration of interest.
First announced in mid-2023, S P Setia said the land disposal to Mah Sing via its subsidiaries is part of S P Setia's strategy to boost capital efficiency and focus on high-priority projects, steering the company towards a leaner business model.
Meanwhile, since 2023, Mah Sing has been on an active land acquisition drive, acquiring M Legasi in Semenyih and M Azura in Setapak in 2023. Subsequently, the group acquired M Tiara 2 in Johor Bahru and MSS Business Park in 2024. In May 2024, Mah Sing also earmarked a 150-acre land in Bangi for the Mah Sing DC Hub@Southville City.
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