KUALA LUMPUR (Nov 22): Mah Sing Group Bhd's (KL:MAHSING) M Luna condominium development in Kepong has achieved a Qlassic score of 86%, the highest for an M Series project, according to a press statement on Friday.

The construction certification was presented to Mah Sing by the Construction Industry Development Board (CIDB) Malaysia at M Luna’s appreciation night held on Thursday.

With a gross development value (GDV) of RM705 million, M Luna features two 57-storey towers spread across a 5.47-acre parcel. Both towers have a total of 1,672 units that come in two- to four-bedroom layouts and have three built-up sizes of 700, 850 and 1,000 sq ft. These units were priced from RM385,000. The project has been fully sold and was completed this month. The date of vacant possession will be announced at a later date.

In the statement, Mah Sing founder and group managing director Tan Sri Leong Hoy Kum said, “We are proud to be able to deliver this project ahead of schedule without compromising on its quality. Earlier this year, we also completed M Oscar, our first residential development in Sri Petaling, and there will be more to come.”

Besides Qlassic, M Luna also received a 94.02% score in Safety and Health Assessment in Construction (SHASSIC) by the Construction Assessment Centre and 4.2 million man-hours without lost time injury.

Leong added, “Leveraging on the spillover demand from M Luna, we also launched M Nova and M Zenya [apartments] located in the same area. Both projects received an overwhelming response from homebuyers and there are limited units left available for sale. Both projects will also embody the DNA of our M Series which are strategically located with attractive price points, good connectivity and abundant amenities. Hence, I believe M Nova and M Zenya will replicate the success of M Luna.”

Meanwhile, he also highlighted that Mah Sing has been active in replenishing its land bank this year, with four lands acquired including MSS Business Park in Sepang, M Tiara 2 in Johor Bahru, M Aspira in Taman Desa, and most recently M Aurora in Old Klang Road, which was acquired earlier this month.

“Moving forward, we will continue to look for suitable lands to replicate the success of our M Series developments that meet market demand.”

With short-term investments of RM911.5 million and a net gearing ratio of 0.10x as at June 30, 2024, the statement said the developer is positioned to continue its acquisition of lands in Klang Valley, Johor and Penang. Currently, Mah Sing has a portfolio of 60 projects covering a total land bank of 5,353 acres with an estimated GDV of RM60.3 billion.