Mah Sing enters Rawang again 28 Aug 2013 97 acres near Saujana Rawang to be developed into gated and guarded township. Mah Sing Group Bhd yesterday inked the acquisition of M Residence 3@Rawang, the Group’s third township in Rawang in just as many years. The 96.71 acres of land in Rawang was purchased for RM68.67mil (RM16.30 per sq ft) where it plans to develop the M-Residence 3@Rawang with a gross development value of RM520mil. It told Bursa Malaysia that the project, mainly consisting of 2-storey link homes and 2-storey semi-detached houses, was less than 5km from its existing projects, M Residence and M Residence 2. M-Residence 3 expects to earn a gross development value of RM520mil. It is to be developed as a leasehold gated and guarded township. According to the developer, the site is located 6.6km from Rawang toll, 4.0km from Aeon Jusco and is adjacent to Saujana Rawang. Additional accessibility to the township is expected to be improved with a proposed new access road from the main thoroughfare of Jalan Batu Arang. M Residence 1 has Phase 4 left, while M Residence 2 is moving onto Phase 2 with houses priced around RM500K According to the group’s MD/CEO Tan Sri Leong Hoy Kum, “M Residence 3@Rawang will catch the spillover demand from our successful townships of M Residence and M Residence 2@Rawang, which were acquired in 2011 and 2012 respectively. Today, with M Residence 3@Rawang, we now have 480 acres of township land in Rawang worth approximately RM2.13billion in combined GDV.” The first Rawang township M Residence@Rawang has reached tail-end of sales with 2-storey Super Link homes (22’ x 80’ with built-up of 2,400 sq ft.) in Phase 4 scheduled for launch on 1 September 2013 in conjunction with Residents’ private clubhouse. Earlier phases of Phase 1 and 2 had been launched in April 2012 and even Phase 3, launched in January 2013 reached 100% take-up rate by June 2013. M Residence 2@Rawang, meanwhile, has limited units left of Phase 1, Alpine (20’ x 65’ with built-up of 1,885 sq ft). Both types of the 2-storey Link Homes, A1 and A2 were previewed by April 2013. Just four months later, only limited units on the last row of the 20’ x 65’, 1,885 sq ft homes, currently priced from RM488,000 onwards, are left. It will start preview of Phase 2, Birch (20’ x 65’ 2-storey link homes with built up of 1,872 sq ft) in the third quarter of this year. The 1,872 sq ft homes will be available in two types B1 and B2 and are indicatively priced from RM500,000 onwards. There are three phases in total in M Residence 2. -thestar.my
Posted on: Wed, 28 Aug 2013 09:22:02 +0000
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