The developer said the two parcels of land, measuring 3.32 hectares (ha), are located in Puchong Perdana, Selangor.

“Supreme Springs has entered into a conditional sale and purchase agreement for the proposed acquisition of land (parcel 1) in Puchong Perdana measuring approximately 1.55ha for a purchase consideration of RM40.19 million.

“While Legend Grand acquired land (parcel 2) within Puchong Perdana, measuring approximately 1.77ha, for a purchase consideration of RM45.68 million,” it said in a filing with Bursa Malaysia today.

Mah Sing said based on preliminary plans, the new development would be named M Terra (for Parcel 1) and M Hana (for Parcel 2).

“M Terra will be a residential development and is to be affordably priced with indicative starting price from RM250,000. M Hana is planned as a mixed-use development which will also feature some retail lots,” it added.

It said the developments are targeted for registration of interest in the second half of 2023.

Mah Sing intends to fund the costs and expenses related to the proposed acquisitions and developments through a combination of internally generated funds, bank borrowings and/or net proceeds from the disposal of undeveloped lands announced earlier.