Mah Sing deepens Ampang bet with RM1.92bil M Araya

KUALA LUMPUR: Mah Sing Group Bhd is expanding its presence in Ampang with a RM1.92 billion investment, marking its third project in the Klang Valley residential market. The property developer has acquired approximately 5.2 hectares of adjoining freehold land parcels in Ampang, earmarked for the M Araya development. The project will offer serviced apartments with built-up areas ranging from 700 to 1,000 square feet, starting at around RM399,000.

Mah Sing aims to cater to a diverse buyer base, including young professionals, first-time buyers, and growing families, as well as existing homeowners looking to upgrade without relocating. Registration of interest for the project is anticipated to commence in the first quarter of 2027, with a launch expected later that year, subject to regulatory approvals.

The acquisition includes three adjoining parcels, of which roughly 0.8 hectares are currently held under leasehold tenure. Mah Sing plans to apply for conversion of the leasehold parcel to freehold status, pending approval from the relevant authorities. This strategic move highlights Mah Sing's commitment to replenishing its landbank in well-established locations with existing infrastructure, amenities, and significant residential demand.

Ampang is no stranger to Mah Sing's ventures, as the company's previous developments, M Suites and M City, have already been fully sold. M Suites is a freehold serviced residence situated along Jalan Ampang, while M City is an integrated development encompassing serviced apartments, SOHO units, retail spaces, and landscaped areas.

Mah Sing's founder and group managing director, Tan Sri Leong Hoy Kum, expressed confidence in Ampang's long-term growth potential, citing its established residential market, robust connectivity, comprehensive amenities, and sizable population. The company has previously demonstrated its competence in the area through the successful execution of M Suites and M City.

Leong emphasized Mah Sing's commitment to strengthening its presence in Ampang with M Araya, its third project in the region. Datuk Yeoh Chee Beng, Mah Sing's chief executive officer for property subsidiaries, added that the project capitalizes on demand from an established residential catchment, primarily targeting young professionals, first-time homebuyers, and long-term residents seeking to upgrade their homes while remaining close to their familiar communities, schools, and conveniences.

Registration of interest for the M Araya project is set to begin in the first quarter of 2027, with the project aiming for a launch later that year, contingent on regulatory approvals.