Mah Sing Group Bhd is acquiring an approximately 1.81ha (4.515-acre) land along Jalan Wangsa Melawati 1 for RM61.97 million to develop two blocks of condominiums named M Adora with an estimated gross development value of RM378 million.
The land is a leasehold land expiring on 21 Jan 2117. The vendor of the land is KLFA Properties Sdn Bhd, a subsidiary of JL99 Property Sdn Bhd. The land is purchased with the benefit of approved development order for residential development.
The project is planned for a fully residential condominium with amazing city and highland view, and yet affordably priced from RM468,000 for a home with indicative built up from 850sq ft.
Lot no: Lot 201522, Mukim Setapak, Daerah Kuala Lumpur, Kuala Lumpur
Land area: 4.515-acre
Tenure: 99-year leasehold (expiring on 21 Jan 2117)
Category of Land Use: Building, with express condition “tapak kediaman”
Land Price: RM61,974,077.32 (RM315 psf)
Date of transaction: 6 Aug 2019
Vendor: KLFA Properties Sdn Bhd (company of JL99 Property Sdn Bhd)
Purchaser: Maxim Heights Sdn Bhd (company of Mah Sing Bhd)