Mah Sing Acquires 8.09-Acre Land In Kepong For Mixed Development Dubbed M Nova

December 1, 2021

Mah Sing Acquires 8.09-Acre Land In Kepong For Mixed Development Dubbed M Nova

Mah Sing Group Berhad (Mah Sing) announced its third land acquisition in 2021 recently, securing approximately 8.09 acres of prime land in Mukim Batu, Daerah Kuala Lumpur for RM95 million.

Mah Sing’s Founder and Group Managing Director, Tan Sri Dato’ Sri Leong Hoy Kum said in a statement, “In view of the pent-up demand for affordably priced homes, I am delighted to announce that we have acquired yet another piece of land under the M Series banner named M Nova in the high catchment area of Kepong.

“M Nova will be Mah Sing’s third project in the area and we are confident that it will do well as our earlier developments here. This new land acquisition will further solidify our footprint in Kepong and strengthen our competitive positioning in the affordable segment. In fact, we are actively scouting for more good lands in strategic locations.”

Check out our unbiased project reviews on the newly launched projects by Mah Sing here!

Based on preliminary plans, this new project named M Nova is envisioned to be a mixed development with an estimated gross development value (GDV) of approximately RM790 million, according to the developer.

The proposed development is planned to comprise serviced residences with indicative sizes of 700 sq ft, 850 sq ft, and 1,000 sq ft, supported by some retail component. The most affordable residential unit’s indicative selling price starts from RM318,000.

In line with Mah Sing’s quick turnaround model and subject to authorities’ approval, M Nova is targeted for registration of interest in the first quarter of 2022 and is estimated to be launched in the third quarter of 2022.

Meanwhile, Mah Sing registered a 65% increase in profit before tax (PBT) of RM166.4 million on the back of revenue of RM1.2billion for the nine-month period ended 30 September 2021 as compared to PBT of RM100.6million and revenue of RM1.1 billion in the corresponding period a year ago.

The developer also achieved RM1.28 billion new property sales for the nine-month period ended 30 September 2021, a surge of 51.1% compared to RM847.1 million in the same period last year.

Mah Sing observes an upward trend in its property sales, mainly from the Group’s M-Series of affordably priced high rises in central business district and landed properties located in strategic locations with good catchment areas.

For instance, the developer’s 2-storey link homes in Johor Bahru ie Phase 1 of Erica@Meridin was fully taken up during its launch, and Phase 2 is now open to meet the demand. Mah Sing’s new project like M Adora in Wangsa Melawati that was launched last year also recorded strong take-up rates of approximately 90%.

In addition, Mah Sing has received overwhelming interest for its 2 newly acquired lands in 2021 – M Senyum in Sepang and M Astra in Setapak, which the Group targets to launch in Q1/Q2 2022.

Mah Sing’s balance sheet remains healthy with cash and bank balances and investment in short-term funds of approximately RM720.1 million as at 30 September 2021. This will be the main driver for the Group to continue with its disciplined land banking strategy for future growth.

Including all three new lands acquired to-date i.e. M Senyum in Sepang, M Astra in Setapak and M Nova in Kepong, the Group has a remaining landbank of 2,051 acres with a remaining GDV and unbilled sales of approximately RM24.98 billion.

“We are bullish on our M-Series which caters for the affordable segment in line with the current market demand. Encouraged by the positive track record and rapid turnaround time of our projects, we are continuously eyeing for more land with Greater Kuala Lumpur, Klang Valley, Johor and Penang being the focus areas, as well as looking at other property hotspots in Seremban, Melaka and Perak to develop affordable landed homes,” said Leong.


Check out these latest project reviews today! Or read our helpful Guides to learn all about the various property buying, selling and renting tips!



You may also like these articles

Mah Sing Achieves Fy2020 Sales Target Of RM1.1billion

Mah Sing Group Berhad (Mah Sing) successfully achieved its sales target of RM1.1billion for the financial year ended 31 December 2020, driven by its strategy in digital marketing and affordable proper

Continue ReadingMarch 3, 2021

Mah Sing’s M Panora Sales Gallery To Hold Public Preview On 27 And 28 March 2021 - Freehold Double Storey Super Link Homes; Indicatively Priced From RM650,000 Onwards

Mah Sing Group Berhad (Mah Sing) has officially unveiled the brand new M Panora sales gallery, its fourth township in Rawang, located northwest of Kuala Lumpur. M Panora is a freehold, strata landed r

Continue ReadingMarch 25, 2021

Mah Sing Inks Second Land Deal In 2021; To Develop M Astra With Estimated GDV Of Approximately RM618 Million

Mah Sing Group Berhad today acquires a new prime land in Mukim Setapak, Kuala Lumpur measuring approximately 5 acres for RM89 million. The land has 3 frontages facing Jalan Usahawan 5, Jalan Kilang an

Continue ReadingMay 8, 2021

Mah Sing’s Property Sales Leaps To RM1.06 Billion In First Eight Months Of 2021

Mah Sing Group Berhad’s (Mah Sing) profit before tax jumped almost threefold, leaping 193% to RM58 million for the second quarter ended 30 June 2021 as compared to RM19.8 million in the preceding co

Continue ReadingSeptember 2, 2021

Mah Sing Plans 10 New Property Launches, Looks Forward To Property Friendly Measures In Budget 2022

Mah Sing Group Berhad (Mah Sing) is planning 10 property launches in this year with key focus on affordable products, as confidence returns to buyers amidst the opening of more economic sectors and re

Continue ReadingSeptember 22, 2021