Mah Sing Group is looking at developing a new 8-acre transit environment district (TED) development in Puchong with a total estimated gross development value (GDV) of approximately RM726million.
The developer will be allocating approximately 4 acres as a residential development while the balance of 4 acres is planned as a mixed-use development.
Mah Sing said the total land cost is RM85.8 million and comes with the benefit of a converted title for “Bangunan” which will it said will expedite the development process. This marks the first land deal in 2023, and said it will be actively scouting to acquire more good lands to develop affordable homes.
Located near LRT Puchong Perdana and LRT Puchong Prima, these will be TED developments located 501 meters-1,000 meters from public transport. The land enjoys access from Persiaran Puchong Perdana 2 and is close to the completed Hilton Garden Inn Hotel and M Square commercial project.
For the 9-month period ended 30 September 2022, Mah Sing achieved new property sales of RM1.69 billion, an increase of 32% compared to RM1.28 billion in the same period in 2021. The Group achieved RM640 million new sales in 3Q2022, the highest quarterly sales recorded since 2017.
