Mah Sing has just paid RM392 million for lands in Semenyih!

Mah Sing has just paid RM392 million for lands in Semenyih!

Typically, the land price is usually 10-15 percent of the gross development value (GDV). Therefore, if a developer purchases a RM100 million land, then they are aiming for a GDV of probably RM1 billion. Of course, if this piece of land is within the city centre, then land cost versus GDV could be much higher because land price within the city centre is usually higher than land in the suburbs for example.

Here, we have another example of a prominent developer buying a 500-acre land in Semenyih. This is not a new place for development of residential projects yeah. At least 3 friends whom I know are staying in Semenyih and working in the KL city centre. How far is it from the KL city centre?

Article in nst.com.my. Mah Sing Group Berhad announced that it has completed the acquisition of the 500-acre M Legasi freehold township in Semenyih. 

M Legasi is anticipated to have a gross development value (GDV) of RM3.3 billion. Mah Sing acquired the land from Petaling Garden Sdn Bhd, a subsidiary of S P Setia Bhd, for RM392.04 million.

The first phase of M Legasi comprises double-storey landed homes, with an indicative price starting from RM546,800.

According to Mah Sing, the project will take eight to 10 years to complete. Please do read the article for more details here: Article in nst.com.my.

RM546,800 is not so affordable… right?

Well… if you look at double-storey terraced homes in PJ… then suddenly the price by mah Sing in Semenyih is pretty attractive. As for the additional distance, it’s always about getting used to because someone staying in Old Klang Road for example will still have to drive for a very long time just to reach the city centre every morning if they started their journey during peak hours.

Plus the fact that RM546,800 is unlikely to be enough for a double-storey landed homes yeah since even a condo of over 1,000 sq ft may already be the same price if not higher. So, this is a choice one has to make. Perfect property just do not exist lah. I have no idea how this new project looks like but will definitely take a look when they already have a show room. Just love to see how all these new developments look like.

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