PETALING JAYA: Mah Sing Group Bhd is launching RM1.8 billion worth of properties in the next six months in the Greater Kuala Lumpur, Klang Valley, Penang and Iskandar Malaysia, Johor Bahru.

Pacing towards the sales target of RM2.3 billion this year, Mah Sing’s upcoming launches in the central region will involve projects such as Cerrado serviced apartments in Southville@KL South, D’sara Sentral in Sungai Buloh, Lakeville Residence in Taman Wahyu and M Residence 2 in Rawang.

The upcoming launches in Penang is the resort condominiums of Ferringhi Residence 2 in Batu Ferringhi, while The Greenway@Meridin East township in Pasir Gudang in Iskandar Malaysia, Johor Bahru will also join in the new launches.

In a press statement, Mah Sing today announced a net profit of approximately RM95 million for the first quarter ended 31 March 2016 and a revenue of approximately RM709.2 million.

The Group's current quarter profit before tax of approximately RM126.4 million is RM10.5million or 9.1% higher than the immediate preceding quarter after stripping out excluding the fair value gain on investment property of approximately RM29.5 million in the immediate preceding quarter.

As at 31 March 2016, the Group’s RM32.26billion remaining gross development value (GDV) and unbilled sales is expected to support 8 to 9 years of revenue growth.

According to Mah Sing, the group achieved property sales of RM536million for the first four months up till April 30.

Group managing director Tan Sri Leong Hoy Kum said the attractive price points and good locations of their projects are still generating keen interest from end-users.

He noted the soft launch of landed link homes in Meridin East, Johor Bahru was met with positive response, with over 80% take-up in less than 2 months, while the bookings for new blocks in our D’Sara Sentral and Lakeville Residence are encouraging.

“We are well positioned for current market condition, with 89% of our planned 2016 residential launches priced below RM1 million per unit,” said Leong.