Mah Sing Group Bhd's wholly owned subsidiary, Major Land Development Sdn Bhd, has entered into a sale and purchase agreement with Pink Forest Sdn Bhd for the proposed acquisition of a 2.12ha freehold land along Old Klang Road for RM112.97 million.

In a filing to Bursa Malaysia, Mah Sing said the proposed acquisition is for the development of M Aurora, a transit-oriented development (TOD) that is expected to have an estimated gross development value of RM660 million.

Mah Sing added that M Aurora marks the company's fourth land acquisition this year.

"Strategically located within a well-connected network of trunk roads and highways, this TOD sits just 330m from the Jalan Templer KTM Station and 450m from the Petaling KTM Station.

"Situated near Jalan Gasing, M Aurora is set to capture the spillover demand in the area as it offers the advantage of proximity to Petaling Jaya and Kuala Lumpur city centre, a prime location for urban dwellers seeking the balance of city accessibility and suburban comfort," Mah Sing said in the filing, adding that M Aurora is designed to appeal to working professionals, young families and homebuyers looking for an upgrade in their living space.

Mah Sing said the proposed land acquisition is not expected to have a material impact on the company's earnings for the financial year ending Dec 31, 2024, but is expected to contribute positively to the company's future earnings.

The proposed acquisition is expected to be completed in the first half of 2025.