KUALA LUMPUR: Mah Sing Group Bhd has increased the gross development value
(GDV) of its 428-acre (173.2ha) Southville City@KL South project in Bangi,
Selangor by 62% to RM8.3 billion from the initial RM5.13 billion after it
secured the approval of the authorities for the township’s master plan, which
now includes a 2km stretch of commercial development fronting the North-South
Highway.
The take-up rate has been encouraging for Phase 1 of Southville
City@KL South, which includes the Savanna Executive Suites, with RM600 million
sales achieved, said Mah Sing in a statement yesterday.
“Construction has
commenced for Phase 1 of Southville City@KL South. The approved direct
interchange is estimated to be completed simultaneously with the completion of
Savanna Executive Suites,” the property developer added.
Phase 2 of
Southville City, called Avens Residence, comprises 196 units of 2½-storey and
3-storey link homes. Over the weekend, 80% of the 80 units out of 112 two and a
half-storey link homes opened for pre-selection were
taken up, recording
sales of RM61 million. Avens Residence is due for official launch in
mid-June.
“It is Mah Sing’s master plan to develop Southville City as a
self-contained haven, slightly outside the city where parents can raise their
children in a holistic suburban lifestyle, and still easily travel to the city
for work purposes,” Mah Sing group managing director and chief executive Tan Sri
Leong Hoy Kum said in the statement.
This article first appeared in
The Edge Financial Daily, on June 03, 2014.
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