KUALA LUMPUR, June 19 — Mah Sing Group Bhd has acquired a 202.34 hectares freehold land in Semenyih, Selangor for RM392.04 million.

In a statement today, the property developer said the newly acquired land would be named Glengowrie Estate and is planned to be developed into an integrated township development with an estimated gross development value (GDV) of RM3.3 billion.

It said the land, situated in the matured township of Semenyih and bordering the Seremban district, is located to the south of Eco Forest and to the east of Bandar Tasik Kesuma.

Founder and group managing director Tan Sri Leong Hoy Kum said the latest acquisition is the third land acquisition by Mah Sing for 2023, increasing the company’s prime landbanks to 978.53 hectares with total remaining GDV and unbilled sales of RM26.86 billion.

“This acquisition will increase our township lands to cater for the demand for landed residential properties in the suburbs, in addition to high-rise residential properties and industrial land,” he said.

He said Glengowrie Estate would build on the success of the company’s affordable landed and township developments such as M Senyum in Salak Tinggi, M Aruna, M Panora and M Residence in Rawang, Southville City in Bangi and Meridin East in Johor.

“With its strategic location in Semenyih and approximately 30 minutes from Kuala Lumpur, we believe this development will appeal to first-time home-buyers who prefer to live in a self-contained township development away from the city,” he said.

He said the development is also suitable for young families who live with their children and parents.

Mah Sing said according to preliminary plans, the integrated township would be developed with double-storey landed homes with indicative prices starting from RM446,800, well-planned amenities and commercial lots.

The property developer said the awareness programme and registration of interest for the project is expected to commence in 2024 and the proposed development is expected to commence by the third quarter of the same year with a development period of over eight to 10 years.

With the new acquisition, Mah Sing currently has 15 townships in the Klang Valley, Johor and Penang. — Bernama