Mah Sing Group Berhad (Mah Sing) has just acquired new prime land in Mukim Setapak, Kuala Lumpur, of 5 acres for RM89million. This second land deal of the year is for their latest project, M Astra.
The acquisition is located 600 meters off the major trunk road in Kuala Lumpur, Jalan Genting Kelang and has 3 frontages facing Jalan Usahawan 5, Jalan Kilang and Jalan Usahawan 6. It is also 3km from the Group’s well-received M Adora in Wangsa Melawati and is targeted for registration of interest in the third quarter of 2021.
M Astra will be a mixed development comprising 2 blocks of serviced suites with an estimated gross development value (GDV) of RM618million. It plans to have 3-bedroom and 4-bedroom units, with indicative built-up ranging from 850sq ft to 1,030sq ft, and affordably priced with an indicative starting price from RM399,000.
Along with that, it features some retail lots with plans to accommodate drive through F&B outlets.
“The land acquisition of M Astra is timely as we foresee that the recovery of property market is gaining momentum and we wanted to be ready to seize the opportunity to meet the home buyers’ need for affordably priced projects.”
Mah Sing’s Founder and Group Managing Director, Tan Sri Dato’ Sri Leong Hoy Kum
The project is expected to leverage a huge target catchment due to its close proximity to matured neighbourhoods such as Danau Kota, Desa Setapak, Setapak Jaya, Wangsa Maju, Taman Melati, Titiwangsa and Setiawangsa.
“We believe that first-time home buyers and upgraders from surrounding areas who want to stay near the central business district will find M Astra very attractive and convenient as we plan to have retail elements within the mixed development. The living environment is also very conducive as it is surrounded by ready amenities such as primary and secondary schools, educational institutions, public transport, shopping malls, and hospitals.”
Mah Sing’s Founder and Group Managing Director, Tan Sri Dato’ Sri Leong Hoy Kum
Expecting great success for M Astra like their other projects, Mah Sing plans to continue to scout for more strategically located lands. The focus areas are Greater Kuala Lumpur and Klang Valley.
