How much is the estimated gross development value of M Araya?

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The estimated gross development value of M Araya is RM1.92 billion.

Mah Sing Group Bhd announced its new residential project, M Araya, is expected to have an estimated gross development value (GDV) of RM1.92 billion. This project follows the success of the group's previous launches in Greater Kuala Lumpur and the Klang Valley. M Araya is designed to cater to a diverse range of buyers, including young professionals, first-time homeowners, growing families, and those looking to upgrade within an established neighbourhood.
Land Acquisition to Support Project Development
The proposed M Araya project is underpinned by Mah Sing's recent acquisition of land in Ampang. Capitol Avenue Development Sdn Bhd, a subsidiary of Mah Sing Group Bhd, entered into conditional sale and purchase agreements to acquire several parcels of land for a total consideration of RM186.17 million. This acquisition includes 9.51 acres from Chin & Tan Holdings Sdn Bhd for RM122.62 million and 4.86 acres from Destar Nurani (M) Sdn Bhd for RM63.55 million.
Strategic Expansion in Ampang
The acquisition of these lands is intended to strengthen Mah Sing's presence in Ampang, an established residential market in the Klang Valley. The developer views this as an opportunity to extend its urban home development offerings to the existing community. Ampang is recognised for its strong connectivity, comprehensive amenities, and a sizeable population, factors that contribute to its sustained demand.
Project Details and Target Market
M Araya is planned as a serviced apartment development, with indicative built-up areas ranging from 700 to 1,000 square feet. Indicative pricing for these units is set to start from RM399,000. The development aims to introduce modern, well-designed homes that complement the character of the surrounding neighbourhood while addressing the evolving needs of homebuyers.

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How much is the estimated gross development value of M Araya?

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