Mah Sing Group Bhd is presenting projects worth about RM10.6bil at its show gallery in Batu Maung in conjunction with its 20th anniversary.
Group chief operating officer Teh Heng Chong said the projects comprised The Coastal with a gross development value (GDV) of RM275mil in Southbay, Meridin BayVue (RM600mil GDV) in Johor Baru, Lakeville Residence (RM1.5bil GDV) in Kuala Lumpur, and The Southville City (RM8.3bil GDV) in Bangi.
The Coastal which targets local buyers comprises attractively-priced professional suites, residential suites, and shoplexes. according to Teh.
"We are, for example, selling the semi-furnished professional suites from RM581,800 onwards per unit. We have yet to fix the selling prices for the residential and shoplexes," he said.
The suites are ideal for start-up companies that do not require too much space, according to Teh.
The Meridin BayVue, The Lakeville Residence, and Southville City are mid-ranged residential cum commercial projects, priced from RM300,000 onwards.
"It is our business strategy today to target price the properties affordably so that the locals will not have problems in accessing bank loans," he said.
On the contribution of Penang’s sales to the group for 2014, Teh said the state would generate about RM400mil to the group’s projected RM3.6bil revenue for this year.
In 2013, Penang's sales generated about RM300mil to the group’s RM3bil turnover.
The projects will be showcased in Batu Maung this weekend from 10am to 6pm.
Beside these projects, Mah Sing will display its other projects from across the country.
"These projects include the Garden Residence, comprising semi-detached and bungalow homes in Cyberjaya, M City, a serviced apartment project, in Jalan Ampang, and D’sara, a commercial high-rise scheme connected to the MRT station, in Sungai Buloh," Teh said.
Mah Sing has extended invitation to some 50,000 of its customers in the northern region to attend the 20th anniversary celebration in Penang at the show gallery in Batu Maung this weekend. - By David Tan (The Star)
Maintenance work has started at 13 low-cost and low medium-cost apartments and flats in Penang, with funds channelled under the 1Malaysia Maintenance Fund (TP1M).
Penang Federal Action Council chairman Datuk Zainal Abidin Osman said the funds were from the Urban Wellbeing, Housing and Local Government Ministry.
The Commissioner of Buildings had been informed of the works to be carried out.
"Work started in early and mid-September and is expected to be completed by the middle of this month or early next month.
"Twenty-five contractors have been appointed through an open tender process by the Penang Federal Development Office," he said in a statement yesterday.
Zainal Abidin said the office was also closely monitoring the works to ensure the quality was in accordance with the scope and specifications as agreed upon in the open tender.
He also said that as of Dec 31 last year, the office received a total of 156 applications for allocation while the TP1M selection committee had recommended 40 applications for consideration.
"Of these, 14 applications were approved by the ministry via a letter in May. However, one of the applications was postponed due to changes in work scope," he said.
He added that the amount that had been approved was RM7.25mil.
The approved low-cost projects are Taman Teluk Kumbar, Saujana Heights (Blok E), Rumah Pangsa Taman Sri Nibong, Desa Pantai Indah, Taman Emas, Rumah Pangsa Seri Merpati and Lily Flat.
The approved low medium-cost projects are Rumah Pangsa Halaman Damai (Blok 9), Saujana Heights (Blok B & D), Rumah Pangsa Seri Bayu, Pangsapuri Indah, Pangsapuri Titi Mukim and Pangsapuri Indah 1A dan 1C.
He added that the controversial Taman Tun Sardon flats, which was painted in green and had a logo resembling that of PAS, was not included in the TP1M list.
Zainal Abidin also refuted claims by state Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo that the TP1M funds allocated for Penang was little.
"Penang received RM7.25mil from the total allocation of RM40mil for the whole nation.
"That is equivalent to 18.13%. It would be unfair to call for more allocation for Penang while denying other states the right to obtain the funds," he said. - By The Star