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Tuesday, February 9, 2010

Mah Sing unit to buy land for RM45.5m

PETALING JAYA: Mah Sing Group Bhd’s wholly owned unit Multi Synergy Group Sdn Bhd yesterday signed an agreement to acquire 7.67ha of freehold industrial land in Hicom Industrial Estate, Shah Alam, from Quill Industrial Properties Sdn Bhd for RM45.5mil cash.

Mah Sing said in a statement yesterday that the land, priced at RM54.45 per sq ft, would be developed into iParc 2@Shah Alam, an industrial development with an estimated gross development value of RM143mil.

Group managing director-cum-group chief executive Tan Sri Leong Hoy Kum said the project would be a low-density industrial park for hi-tech industries, logistics warehousing and service facilities.

“The main target market will be local companies looking to integrate their corporate headquarters with operations and warehousing facilities as well as multinational corporations from various industries.

“Based on preliminary plans, iParc 2@Shah Alam will offer three-storey semi-detached factories with layout flexibility options priced from RM2.5mil. The built-up for the smallest units will be about 5,400 sq ft,” Leong said.

The development, spanning three years, is scheduled to begin in the second half of this year.

By The Star

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