By Roznah Abdul Jabbar
KUALA LUMPUR – Prominent property developer Mah Sing Group Bhd has recently announced the latest phase of its integrated township Southville City @ KL South.
The company unveiled the upcoming phase – Cerrado Residential Suites, during a Chinese New Year celebration at Southville City.
“In support of the nation’s affordable homes, especially for first-time home owners, Southville City’s new phase called Cerrado Residential Suites will offer houses priced from RM388,000,” Mah Sing’s group managing director Tan Sri Datuk Sri Leong Hoy Kum said.
Cerrado, which is scheduled for launch first quarter this year, will comprise 1,616 units housed in four towers with built-ups from 650sq ft to 825sq ft. The partly-furnished units come with either two or three bedrooms.
Chief operating officer of Southville City, Ong Chou Wen said that one of the residential towers, offering 404 units priced from RM388,000 to RM599,000, is open for registration.
He said Cerrado is expected to be completed by 2020. It targets buyers from the southern region such as Nilai, Seremban and Malacca, as well as buyers from the Klang Valley whose budget is below the RM600,000 mark.
Leong said Southville’s appeal will be heightened with the early completion of the dedicated interchange for the township from the North-South Highway.
“This will make Southville just 17km from Kuala Lumpur, creating an even more appealing investment, especially for Savanna Lifestyle shops, which are already in an advanced stage of construction. They will reap the benefits of the connectivity immediately,” he said.
The direct interchange from the North-South Expressway into Southville is expected to be completed by end 2017, earlier than the scheduled completion in 2018.
“We are truly delighted by the Government’s commitment to the High Speed Rail as Southville City is just 20 minutes either way from the stations in Bandar Malaysia and Seremban,” he added.
Meanwhile, the group has recorded an 8.47 per cent increase in nett profit for the financial year of 2015, from RM356.5 million to RM386.68 million while its revenue rose 7.02 per cent to RM3.11 billion from RM2.9 billion a year ago.
“For FY15, revenue from property development was about RM2.8 billion, marking near to 7.9 per cent improvement as compared to about RM2.6 billion achieved the previous year. Operating profit increased by 2 per cent from about RM449.1 million to about RM457.9 million,” the company said.