Left to right: Mah Sing Chief Executive Officer Datuk Ho Hon Sang, Mah Sing Group Managing Director Tan Sri Dato' Sri Leong Hoy Kum and Mah Sing Executive Director Group Corporate and Investment Datuk  Steven Ng at Mah Sing Group’s booth at Invest Malaysia 2018 in Shangri-La Hotel KL.

PETALING JAYA: Mah Sing Group Bhd announced that it achieved RM1.8bil in sales for last year during a media briefing at Invest Malaysia 2018 (IMKL) recently.

The group targets similar success this year with a minimum of RM1.8bil sales target by launching more well-planned mass market residential projects priced below RM500,000 with good concepts in strategic locations.

Mah Sing group managing director Tan Sri Leong Hoy Kum mentioned, “StarProperty.my’s survey showed that pricing and location remain as top influencing factors when it comes to purchasing a home.”

Regardless, he mentioned that last year, many talked about the overhang conditions in Malaysia. He cited a mismatch in terms of location and pricing as the issue and added that demand for properties in strategic locations and right pricing continues to be strong.

“We want to address these two concerns with our ‘Reinvent Affordability’ campaign. Compared to neighbouring countries, we are offering value buy products such as M Vertica in Cheras which is only 500m away from MRT and LRT and only 4.5km from the city.

“Priced from RM450,800, the three to four bedroom homes from 850 sq ft is something that homebuyers want and is able to afford. In fact, 74% of our target sales in 2018 is priced below RM500,000.”

The Group looks into reinventing innovative layouts, providing quality and generous facilities with high security as well as central location surrounded by amenities and convenience.

As of Sept 30 last year, the group recorded a healthy balance sheet which provides opportunities to pursue more land banks. Leong said, “Last year, we have acquired two lands in Klang Valley and one land in Penang which adds up to gross development value (GDV) of RM3.65bil.

“We currently have a remaining landbank of 2,131 acres and remaining GDV and unbilled sales of RM28.3bil which will sustain the company’s growth for the next eight years. We will continue to be active in our land acquisitions, armed with our healthy balance sheet.”

Leong shared, “Although the current property market is affected by weak sentiments, the healthy Gross Domestic Product (GDP) growth, strengthening of the Ringgit and higher oil prices will continue to support the property market in the longer term.”

Mah Sing will continue its ‘Reinventing Affordability’ campaign coupled with innovative marketing initiatives such as Arts & Lights which had received over 50,000 visitors for its first venue in Icon City, Petaling Jaya. Arts & Lights is currently ongoing at M Centura in Sentul and M Vertica in Cheras.

It was launched in the second half of last year which focuses on developing quality homes in strategic locations at affordable prices.