Mah Sing (KLSE:MAHSING) subsidiary, Capitol Avenue Development, signed conditional agreements to purchase around 14.38 acres of land in Selangor for 186.2 million ringgit, according to a Wednesday Bursa Malaysia filing.
The property developer's unit purchase three parcels from Chin & Tan Holdings, with stepdown subsidiary, Destar Nurani, to build a residential project named M Araya, with a gross development value of around 1.92 billion ringgit.
The purchase will be carried out through internal funds and bank borrowings, with completion slated for the second half of 2027.
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