Mah Sing to buy land

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.

By Business Times