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.