Klassik Tropika Sdn Bhd, a wholly owned subsidiary of Mah Sing Group Berhad has acquired 3.38 acres of freehold land along Pykett Avenue off Jalan Burma, Penang for RM38.65 million. A high end condominium with an estimated gross development value of RM280 million is planned for the new acquisition.

Based on preliminary plans, the condominium will offer units of 1,400 sq ft, 1,800 sq ft and 2,500 sq ft and registration of interest for the project is expected to start soon.

Mah Sing Group Berhad group managing director and group chief executive Tan Sri Dato’ Sri Leong Hoy Kum said, “The location of the land is perfect for an up market residential project, and we will develop a beautiful condominium to capitalize on the sea view on the Northeast. There is also a scenic view of mountains at the Southwest direction. While just outside Georgetown’s heritage site, it still enjoys a good view of the bustling town.”

According to the press release, it said that the acquisition is strategic as it allows the group to tap on the success and spillover demand of Mah Sing’s Residence@Southbay project in Batu Maung which launched phases are 90 percent sold.