Recovery Confidence Prompts Mah Sing To Launch 10 Property Projects

As market confidence returns and consumers start shopping again, pent up demand for properties is gaining interest. Signs of the industry heading to a positive quarter is all there, especially with the extension of HOC right into 2022. Mah Sing Group a prominent developer in Klang Valley is taking stock of the situation and is planning for 10 property launches in this year with key focus on affordable homes.

With close to 78.8% of Malaysia’s adult population fully vaccinated Group Chief Executive Officer, Datuk Ho Hon Sang said, “while we have been able to close new property sales of approximately RM1.06 billion for the first 8 months of 2021 due to our strong online sales and marketing capabilities, buyers have been looking forward to visiting our sales gallery for a more personalised consultation. Purchasing power from households will gradually improve and we foresee affordably priced properties at strategic locations will still be well sought after.  We intend to roll out more exciting marketing campaigns to tap on this pent-up demand,” he added.

As for the 10 property launches, the developer has planned launches of 8 new phases in various projects including Tower E of M Vertica, Cheras, remaining phases of M Arisa, Sentul, Phase 2 of Cerrado Suites and Tower B Sensory Residences at Southville City in Bangi, Phase 3 of M Aruna and M Panora in Rawang, service apartments in Southbay City, Penang and Erica in Meridin East, Johor Bahru.

It also plans to launch 2 brand new projects from its acquired lands earlier this year, namely M Astra in Setapak and M Senyum in Bandar Baru Salak Tinggi, Sepang, which are both indicatively priced from below RM500,000, targeting to meet the pent-up demand for affordable homes.

The company is a healthy cash position, with locked in unbilled sales of approximately RM1.79 billion as at 30 June 2021. Its remaining gross development value and unbilled sales totalling approximately RM24.45 billion is expected to provide earnings visibility for at least 8 years.

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