Mah Sing Group Berhad via its wholly owned subsidiary, Mah Sing Properties Sdn Bhd has acquired approximately 205.72 acres of freehold land in Johor Bahru for RM54.7 mil cash.
The land has been slated for the development of Mah Sing i-Parc, an integrated industrial and business park which can yield an estimated gross development value of approximately RM610 mil.
Mah Sing’s group managing director and chief executive Leong Hoy Kum said they see enormous potential for Mah Sing i-Parc to be a centralized logistic hub as it is only 1km from the Port of Tanjung Pelepas (PTP) and 23km from Jurong Industrial Estate in Singapore.
He added, “The location is very prime and this is one of, if not the last piece of sizeable freehold land in the area.”
PTP ranks second in the country’s container ports after Port Klang, handling 3.7million TEUs (twenty-foot equivalent units) for the first 7 months of 2010.
This represents 36.1% of total container throughput in Malaysia, and the port improved its ranking from 18th in 2008 to 17th in 2009 in the world’s top 20 container ports in terms of TEUs.
Mah Sing i-Parc will be Mah Sing’s first large scale industrial project in 15 years.
Based on preliminary plans, Mah Sing i-Parc will develop semi-detached factories with built up of approximately 5,400 sq ft, priced from RM1.5 mil and detached factories with built up of approximately 10,000 sq ft, priced from RM2.5 mil.
There will also be some factory land of approximately 0.5 acre to 1 acre per lot for sale within the industrial and business park.
Three storey shops priced from RM650,000 will be built to complement the project.
The development is expected to commence in the last quarter of 2011.
anonymous said...
Please send me catalogue when the above project is ready for booking.My address: 4 Jalan Dinding Singapore 739821
May 17, 2011 10:03:00 PM
anonymous said...
Please send me catalogue when the above project is ready for booking.My address: 4 Jalan Dinding Singapore 739821
May 17, 2011 10:03:00 PM
