KUALA LUMPUR: Mah Sing Group Berhad announced that it has completed the acquisition of the 500-acre M Legasi freehold township in Semenyih.
M Legasi is anticipated to have a gross development value (GDV) of RM3.3 billion. Mah Sing acquired the land from Petaling Garden Sdn Bhd, a subsidiary of S P Setia Bhd, for RM392.04 million.
The property developer said that the acquisition marks a milestone in its commitment to expanding its portfolio and delivering quality townships to meet the growing demand for sustainable and well-planned communities.
The first phase of M Legasi comprises double-storey landed homes, with an indicative price starting from RM546,800.
It aims to attract potential buyers from Kajang, Seri Kembangan, Bangi, and Seremban who are seeking more affordable alternatives outside the Kuala Lumpur city.
According to Mah Sing, the project will take eight to 10 years to complete.
Prior to the Semenyih land deal, Mah Sing had completed the purchase of M Azura, a high-rise residential development in Setapak, in June 2024.
The project boasts an estimated gross development value of RM508 million.
Indicatively priced from RM396,800, M Azura is Mah Sing's third development in Setapak, following the success of the fully sold M Adora and M Astra.
Mah Sing said in a statement that it is anticipated that M Azura will benefit from the spillover demand from the two sold projects.
Mah Sing had also completed the purchase of M Tiara 2 in June 2024, a township featuring double-storey terraces and double-storey cluster homes, with an indicative price starting from RM771,600.
Acquired for RM103.7 million, the development has an estimated GDV of RM1.45 billion.