Mah Sing buys 19 acres Shah Alam industrial land for RM45.5m

KUALA LUMPUR: Mah Sing Group Bhd is acquiring 19 acres of land in the Hicom industrial estate in Shah Alam for RM45.5 million and to be developed into an industrial park with a potential gross development value of RM143 million.

It had on Monday, Feb 8 entered into a sale and purchase agreement with Quill Industrial Properties Sdn Bhd to acquire about 19.18 acres of prime freehold industrial land for cash consideration of RM45.5 million or about RM54.45 per square foot.  

"The land will be developed into an industrial development to be named iParc 2 @Shah Alam, with an estimated gross development value of approximately RM143million," it said.