KUALA LUMPUR: MAH SING GROUP BHD [] is undertaking two land acquisition deals valued at RM166.53 million as it moves to expand its landbank in the Klang Valley.

Mah Sing said on Wednesday, Nov 3 it was acquiring from Ampang Leisuremall Sdn Bhd four parcels of freehold commercial land along Jalan Ampang, measuring 19,041.3 square metres (4.7 acres) in Ampang.

The acquisition price tag was RM114.90 million or about RM560.63 per sq ft. The proposed acquisition comes with an option to purchase two parcels of adjacent commercial land at RM560 per sq ft.

In a separate announcement, it had proposed to acquire a parcel freehold residential land in Cyberjaya measuring approximately 141,084 sq metres or 34.86 acres for total cash consideration of RM51.63 million.

Mah Sing's unit Myvilla Development Sdn Bhd entered into a tripartite sale and purchase agreement with Cyberview Sdn Bhd, the proprietor and Setia Haruman Sdn Bhd, the vendor for the proposed acquisition.