Mah Sing Group Berhad’s (Mah Sing) latest high-rise residence project, M Luna in Kepong recorded overwhelming response in one weekend, where phase 1A comprising 200 units saw 90 percent take-up over June 13 and 14.
The launch attracted a good crowd, which was impressed by the project’s design, good location, and pricing, resulting in the strong 90% take up. The team at the sales gallery was well prepared to comply with the standard operating procedures (SOP) required during the Recovery Movement Control Order (RMCO).
The commendable take up was achieved on the back of the sales team’s continuous
dedication and commitment in following up with potential buyers and providing personalised consultation. The sales team continued updating potential buyers even
during the MCO via Vlogs and online meetings/online-sales gallery tours.
The most affordable units for M Luna would have built up from 700sqft and priced from RM385, 000 – ranging from 2 to 4 bedrooms with 1 to 2 car parks per unit. In view of the strong take-up, Mah Sing plans to rollout phase 1B of the project with an additional 200 units, which will be eligible for early bird privileges.
The sales gallery, which is only 5km from the actual project, is operational daily from 10am to 6pm. Alternatively, buyers are also welcomed to visit M Luna’s virtual show units at www. mahsing.com.my/m-luna/floor-plan/. M Luna is a participating project in Mah Sing’s Eazy to Own Campaign, which also offers the Maybank Islamic HouzKEY, an innovative home financing solution that can provide buyers with easy entry of up to 100 percent financing and lower monthly instalments.
Mah Sing’s Chief Executive Officer, Ho Hon Sang said, “The launch of M Luna is timely and the encouraging take up for Phase 1A of M Luna during its weekend launch is a testament that properties in the right location remains strong. This positive result is also on the back of the government’s recently announcement Home Ownership Campaign (HOC) 2020.”
“Buyers can leverage on the HOC 2020 under the PENJANA Plan, which includes stamp duty exemption on the instruments of transfer for residential properties limited to the first RM1 million of the home price, and full stamp duty exemption for loan agreement. This bodes well for Mah Sing as 84% of our target sales for 2020 are for residential properties priced below RM700, 000.” he added
“Despite the current market conditions due to the Covid-19 pandemic, we are cautiously optimistic that the demand for affordably priced properties of good quality at strategic locations will remain resilient. Property is still one of the safest forms of asset class for long-term capital protection and appreciation. We believe that Malaysia is in the process of recovering from the pandemic and advancing into the revitalisation of the economy on the back of the government’s proactive approach in introducing many rounds of stimulus packages especially the recently announced PENJANA plan,” Sang elaborated.
Am Research which has a Buy call on Mah Sing with a target price of RM0.79 per share noted that they expect M Luna to be well received given its strategic location along the MRR2 (within 5km from DUKE,NKVE and LDP, and a growing young population in that area.
On top of that, Mah Sing is planning to launch its next project, M Adora, located at Wangsa Melawati in middle of July 2020. They believe the long-term outlook for Mah Sing remains positive backed by strong sales achieved in the past few quarters.
Moreover, they expect the new projects in Klang Valley to be strong sellers given their strategic locations and attractive pricing.
