Mah Sing showcasing projects worth RM11bil

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)

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