Leading developer Mah Sing Group Bhd has made it clear that it will not be resting on its laurels as it heads into the second half of the year.
The company recently announced that it will be launching some RM1.8 billion worth of properties over the next six months. These will be primarily located within the Klang Valley and Greater Klang Valley regions, Penang and Iskandar Malaysia in Johor.
Mah Sing said its upcoming launches in the central region will include Cerrado serviced apartments in Southville@KL South, D’sara Sentral in Sungai Buloh, Lakeville Residence in Taman Wahyu and M Residence 2 in Rawang.
In Penang, its key focus will be on the Ferringhi Residence 2 resort condominiums, located in Batu Ferringhi, while there will also be new launches from The Greenway@Meridin East in Iskandar Malaysia.
Group managing director Tan Sri Leong Hoy Kum said sales this year have been predominantly driven by Mah Sing’s offer of attractive price points coupled with strategic locations. He pointed out that the soft launch of landed units in Meridin East was met with positive response, with 80 per cent of the units spoken for already within a period of two months.
Similarly, he said, bookings for new components within D’sara Sentral and Lakeville Residence have been encouraging.
“We are well positioned for the current market condition, with 89 per cent of our planned residential launches in 2016 priced below the RM1 million mark,” Leong said.
According to Mah Sing, the group has so far achieved RM536 million in property sales for the first four months of the year.However, it has an overall sales target of RM2.3 billion for 2016.
As of March 31, the group’s current quarter profit before tax stood at approximately RM126.4 million, which is 9.1 per cent higher (RM10.5 million) than the immediate preceding quarter. — Chris Prasad