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Friday, October 8, 2010

Mah Sing gets shareholders nod on land buy

Mah Sing Group Bhd today received the approval of its shareholders to acquire a piece of land in Kinrara, Puchong.

A new residential property project, Kinrara Residence, will be developed on the land under the the group's medium high-end residence series.

Kinrara Residence, a mixed residential development, will consist over 800 units comprising super link homes, semi-detached and bungalows.

"The acquisition of the 51.38 acres, which has been sub-divided, is expected to start by year-end," Mah Sing Group's Managing Director, Tan Sri Leong Hoy Kum told reporters after an extraordinary general meeting today.

The project, with an estimated gross development value of RM830 million, is expected to see faster execution by 12 to 15 months with a major infrastructure already substantially completed and 70 per cent of the land cleared and ready for immediate building work.

By Bernama

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