Multi Synergy Group Sdn Bhd, a wholly owned subsidiary of Mah Sing Group Berhad entered into a Sale and Purchase Agreement (SPA) to purchase 19.18 acres of freehold industrial land in Hicom Industrial Estate, Shah Alam for RM45.5 million from Quill Properties Sdn Bhd.

The land will be developed into an industrial development named iParc 2 @ Shah Alam which will have an estimated gross development value of RM143 million. Early indication shows that the project will offer three-storey semi-detached factories with layout flexibility options priced from RM2.5 million. Built-up for the smaller units will be 5,400 sq ft.

Mah Sing Group Berhad group managing director cum group chief executive Tan Sri Dato’ Sri Leong Hoy Kum said, “Since the launch of iParc@Bukit Jelutong in January, we have seen overwhelming response as we have sold 40 units out of a total 42 units. That leaves only 2 units which is why this acquisition is timely and strategic as we would like to cater to the pent up demand for this product.”

With iParc 2 @ Shah Alam adds to Mah Sing Group’s remaining gross development value and unbilled sales of RM5.8 billion in the Klang Valley, Penang island and Johor Bahru.