Mah Sing Group Bhd is disposing of approximately 78.80 acres of freehold land in Southville City, Dengkil, Selangor for RM617.86 million.
Its wholly owned subsidiary, Southville City Sdn Bhd, entered into a conditional sale and purchase agreement today with WG Malaysia X Sdn Bhd for the disposal, equivalent to RM180 per square foot.
The company said the proposed disposal is part of its strategy to unlock the value of its landbank and redeploy capital towards growth areas, including digital infrastructure and recurring-income assets.
The vacant land forms part of Mah Sing’s approximately 428.84-acre freehold Southville City township in Mukim Dengkil, Daerah Sepang.
The purchaser it said intends to develop the land for data centre-related purposes.
Mah Sing said the land was acquired as part of the wider Southville City master land at an average cost of approximately RM18.60 per square foot in 2012, based on the Group’s available land plots at the time.
The purchaser, WG Malaysia X, is a Malaysian private limited company principally involved in providing infrastructure for hosting and data processing services and related activities. It is wholly owned by DayOne Data Hub II Sdn Bhd.
