Location Map of Mah Sing’s 500 acres Glengowrie Estate township development in Semenyih. (Source: Google Map & Mah Sing)
Mah Sing Group Berhad (Mah Sing) today announced the acquisition of a 500-acre freehold land in Semenyih with an estimated Gross Development Value (GDV) of RM3.3 billion. To be named Glengowrie Estate, the land is planned as an integrated township development comprising mainly double-storey landed homes with indicative prices starting from RM446,800.
Sale and purchase agreements (SPAs) were signed with Petaling Garden Sdn Bhd, a subsidiary of S P Setia Berhad today for RM392,040,000.00. Development charge, Improvement Service Fund (ISF) and part of Integrated Water Supply Scheme (IWSS) costs have been paid by the vendor. Part of the external infrastructure has also been completed. An undulating land form allows Mah Sing the opportunity to explore unique design and creative opportunities while maximising land use.
The land is situated in the matured township of Semenyih, Selangor, located to the south of Eco Forest and to the east of Bandar Tasik Kesuma. The land also borders the Seremban district giving it a captive target market.
Mah Sing’s Founder and Group Managing Director, Tan Sri Dato’ Sri Leong Hoy Kum said, “This is our most significant land acquisition in recent years and the scale of the project will allow very good master planning. The acquisition will increase our township lands which will cater for demand of landed residential properties in the suburbs, in addition to high-rise residential properties in the city and industrial land in suitable locations. Glengowrie Estate will build on the success of our affordable landed and township developments such as M Senyum in Salak Tinggi, M Aruna, M Panora and M Residence 1&2 in Rawang, Southville City in Bangi and Meridin East in Johor.”
“Glengowrie Estate is envisioned as an integrated and sustainable township in Semenyih where residents' lifestyles are self-contained and do not require them to travel far to fulfill their daily needs. With its strategic location in Semenyih and approximately 30 minutes from Kuala Lumpur, we believe this development will appeal to first-time home buyers who prefer to live in a self-contained township development away from the city. The development is also suitable for young families who live with their children and parents,” continued Tan Sri Dato’ Sri Leong Hoy Kum.
According to preliminary plans, this integrated township will be developed with double-storey landed homes, well-planned amenities and commercial lots. The residential dwellings will be reasonably priced with an indicative starting price from RM446,800.
The proposed development is expected to commence by third quarter of 2024 and to be developed over 8 to 10 years, subject to authorities’ approval and fulfilment of conditions precedent. Awareness programme and registration of interest for the project are expected to commence in 2024.
Tan Sri Dato’ Sri Leong Hoy Kum said, “This is Mah Sing's third land acquisition this year, following the acquisition of M Tiara, a 75.7-acre freehold land in Mukim Pulai, Johor Bahru with an estimated GDV of approximately RM480 million on 13 June. In January, the Group also acquired an 8-acre plot of land in Puchong to develop M Hana and M Terra, a transit environment district (TED) development with a total estimated GDV of approximately RM726 million.”
The acquisition will increase Mah Sing’s prime landbanks to 2,418 acres, with total remaining GDV and unbilled sales of RM26.86 billion. Supported by its strong balance sheet, Mah Sing continues eyeing more good lands with priority given to lands suitable for affordable M Series landed and high-rise residential, and industrial developments.
The Group believes that demand for medium-priced housing aimed at first-time and younger middle-class home buyers, as well as those looking to upgrade to a well-planned mixed development in Klang Valley, Johor Bahru and Penang Island, will gradually increase over the next few years.
The Boomtown – Semenyih
The land is situated in Semenyih, Selangor, one of the fastest growing areas in Greater Kuala Lumpur or the Klang Valley's southern corridor. Including Ulu Langat and neighbouring districts like Sepang and Seremban, the total population catchment is more than 2.4 million.
Aside from Semenyih, Glengowrie Estate is aimed at attracting potential buyers who are currently residing in Kajang, Seri Kembangan, Bangi and Seremban, and are looking for more affordable alternatives away from the congested Kuala Lumpur city, as well as those looking for countryside living with ready amenities and infrastructure.
A decade of experience in lifestyle townships
Since the year 2000, Mah Sing has been one of Malaysia’s market leaders in township developments. With this new acquisition, the Group currently has 15 townships in the Klang Valley, Johor and Penang. Tan Sri Dato’ Sri Leong noted, “Our townships have won numerous local and international design awards and as a lifestyle developer, we go above and beyond to exceed customers’ expectations. With 54 projects spread across Malaysia, we are committed to developing quality homes that meet market demand and enhance the lifestyle of not only our residents but also the surrounding communities.”
Connectivity and accessibility for residents’ convenience
While Mah Sing shall develop retail and commercial components to complement the residential mix, buyers can immediately tap on the facilities and amenities afforded by nearby developments, which include Lotus Semenyih and Setia EcoHill Walk Mall which is 4.5km away and Mydin Wholesale Market 7.7km away.
The development is surrounded by public schools which are SMK and SK Tasik Kesuma (2.5km), Tenby International School Setia Ecohill (6.7km), Maverick International Primary School (9.8km) and Maverick International Secondary School (12.1km) and institutions of higher learning including MARA Japan Industrial Institute (2.5km) and Nottingham University (4.8km). Nature lovers will be able to enjoy recreational activities at Broga Hill Park which is just 3.4km away.
Connectivity-wise, the township is accessible via the Kajang-Seremban highway (LEKAS) exit toll Eco Majestic (8km), LEKAS highway exit toll Semenyih (9.2km), South Klang Valley Expressway (SKVE), the North-South Expressway (PLUS) or the Kajang Dispersal Link Expressway (SILK).
With excellent location and accessibility coupled with mature catchment, established amenities and backed by Mah Sing’s recent successful launches, the Group is confident that the new development will be well received.
(20 June 2023)