Mah Sing signs S&P to acquire Cheras Land

KUALA LUMPUR (Aug 30): Mah Sing Group Bhd’s wholly-owned subsidiary Cordova Land Sdn Bhd today inked the deal to acquire 11.233 acres of land in Cheras.

It was reported in July 3 that the developer will be purchasing the plot of land at Jalan Cheras, Kuala Lumpur, with a total consideration cost of RM263.48 million or RM538 psf.

The land will be developed into M Vertica, an integrated development with an estimated gross development value (GDV) of approximately RM2.2 billion.

M Vertica is targeted at first-time homebuyers and some upgraders owing to its indicative pricing from RM450,000 and location in the heart of Kuala Lumpur.

“We will continue to focus on developing more affordably priced homes to cater to the market’s demand. Our planned integrated development, M Vertica is situated in a prime KL city location coupled with the affordable entry level pricing provides an unbeatable value proposition. We are looking at residential suites from 850 sq ft at an indicative price from RM450,000 or RM530psf and a choice of bigger units at 1,000 sq ft,” said Mah Sing group managing director, Tan Sri Leong Hoy Kum.

“In fact, we recently opened M Vertica Sales Gallery next to the actual site. This is to give potential buyers a clear idea of the locality of the development. We have already started registration of interest for the first phase of M Vertica on www.mvertica.com.my which has garnered more than 8,500 registrants, and is on track to reach our target of 10,000 registrants. The project is planned to be previewed in 2H2017,” added Leong.

The development is designed with flexible layouts from 3 to 4 bedrooms.

Set to be the tallest residential building in KL, M Vertica will feature a fantastic city view with 4.5 acres of landscape. Its facilities include a clubhouse that houses a badminton, tennis and basketball court; swimming pool, gym and cycling track on the podium level.  

M Vertica will be located just 600m away from the Maluri MRT and LRT interchange and only 800m to Taman Pertama MRT Station. With the completion of MRT Line 1, Sunway Velocity Mall, My TOWN Shopping Centre and IKEA Cheras are all within walking distance from Cochrane station, which is only one stop away from Maluri MRT station.

Within 5km are medical facilities and schools such as Prince Court Medical Center, Pantai Hospital Ampang, Hospital Ampang, Pantai Hospital Cheras, Hospital University Kebangsaan Malaysia, SMK Perempuan Pudu, SK Convent Jalan Peel, SMK Seri Bintang Selatan, SMK Seri Bintang Utara, and Nam Kheung Chinese National School.

It is accessible via major thoroughfares and expressways including Jalan Cheras, Jalan Loke Yew, Jalan Pudu, Jalan Tun Razak, SMART, KL-Seremban Highway, Besraya Eastern Extension Expressway, New Pantai Expressway and Maju Expressway.

Upcoming major developments near M Vertica are Bandar Malaysia, Tun Razak Exchange and Merdeka PNB118.