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- The disposal will pave the way for M Legasi 2—an integrated township envisioned as an upscale extension of the current M Legasi development.
KUALA LUMPUR (Nov 3): S P Setia Bhd has disposed of 275 acres of freehold parcels in Semenyih to Mah Sing Group Bhd for RM273.5 million, adjacent to its existing 500-acre M Legasi township
In a bourse filing on Monday, the lands, purchased from Petaling Garden Sdn Bhd, a subsidiary of S P Setia Bhd, will pave the way for M Legasi 2—an integrated township envisioned as an upscale extension of the current M Legasi development.
The sale consideration was calculated at the rate of RM22.80 psf on gross land area and was arrived at between the parties on a “willing-buyer willing-seller” basis.
Mixed-use township with RM1.7 billion in GDV
Out of the total land acquired, about 175 acres will be allocated for a mixed residential and commercial development with an estimated gross development value (GDV) of RM1.7 billion, subject to design finalisation and regulatory approvals.
M Legasi 2 will feature a diverse mix of homes and lifestyle offerings, including two-storey superlink, linked semi-detached and semi-detached houses, serviced apartments, and shoplots. The project aims to cater to first-time buyers, upgraders, and young families, offering a broader range of residential options within the Semenyih corridor.
The remaining 100 acres are earmarked for strategic partnerships or collaborative ventures with institutional, industrial, or community stakeholders. These partnerships are expected to introduce value-enhancing components that reinforce the long-term sustainability of the township.
Connectivity and timeline
Set to be developed over eight years, registration of interest for M Legasi 2 is expected to begin in 2026, followed by the start of construction in 2027.
The township enjoys excellent connectivity through LEKAS and Jalan Broga, as well as proximity to Kajang and Sungai Jernih MRT stations, which provide easy access to the wider Klang Valley region.
The latest purchase follows Mah Sing’s earlier land acquisitions this year—the M Aria project in Sentul (2.78 acres, GDV of RM283 million) and a 1.46-acre parcel in the KLCC precinct with a GDV of RM1.28 billion.
With the inclusion of the Semenyih land, Mah Sing’s total landbank now stands at 5,697 acres, with a combined remaining GDV and unbilled sales of RM32.37 billion, reinforcing the group’s position as one of Malaysia’s leading property developers focused on accessible yet high-quality developments.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
