Mah Sing unit in land deal

Mah Sing Group Bhd's unit, Grand Prestige Development Sdn Bhd, has entered into a deal with Medan Damai Sdn Bhd to jointly develop a piece of residential land of 5.35ha in Kinrara, Selangor.

Grand Prestige is given ex-clusive rights to continue with the sale and development of the land. In return, Medan Damai will be paid RM35.4 million over 12 months.

Development of the land is expected to be completed in the first quarter of 2012.

The land forms part of an ongoing residential project, known as Taman Damai Utama.

By Business Times