Mah Sing acquires land for RM469m mixed development project

M Minori is aimed at young buyers looking for a more convenient and safer environment due to the stricter access control at an affordable price

by TMR / Pic by TMR FILE

MAH Sing Group Bhd has acquired 6.94 acres (2.8ha) land in Mukim Tebrau, Johor for RM39.29 million.

The property developer said this new acquisition to be named as M Minori has an estimated gross development value of approximately RM469 million.

“Based on preliminary plans and subject to authorities’ approval, M Minori will be a mixed development comprising three blocks of serviced suites with one-bedroom, two-bedroom and three-bedroom units, with indicative built-up ranging from 550 sq ft to 880 sq ft, affordably priced with indicative starting price from RM260,000,” the company said in a statement today.

This proposed mixed development also features some retail lots with plans to accommodate drive-through food and beverage outlets.

This marks Mah Sing’s first land deal in 2022. The group said it will continue to scout for similar lands to develop affordable homes, prioritising lands that can generate returns with turnaround efficiency.

Part of the land cost for M Minori will be funded by proceeds from the recent disposal of a small piece of land in Permatang Tinggi in mainland Penang.

M Minori, inspired by Japanese minimalism, is aimed at young buyers looking for a more convenient and safer environment due to the stricter access control at an affordable price.

“M Minori is in the heart of the established Austin community, which means buyers will be able to easily access educational institutions, medical centres, shopping outlets and more,” Mah Sing’s founder and Group MD Tan Sri Leong Hoy Kum (picture) said in the same statement.

“We believe that first-time homebuyers from surrounding areas who want to stay near the central business district will find M Minori very attractive and convenient.”

Mah Sing’s affordable M Series developments which cover both landed properties in the suburban areas and high-rise properties in KL city centre have been receiving good take-up rates since its launch.

The affordable M Series were conceptualised as the ideal home designed to be affordable at strategic locations and have good connectivity.