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Saturday, October 19, 2013

Mah Sing adds value to its property projects


LIMITED high-quality landbank will continue to drive developer Mah Sing Group Bhd to plan wisely.

Group managing director and chief executive Tan Sri Leong Hoy Kum says the group will ensure that the land use is suitable for the purpose, the community surrounding it and the inhabitants.

“Despite the scarcity of land, we have managed to replenish (our) land bank every year in strategic and potential growth areas,” he says in an email interview.

With 70% of the Malaysian population below 39 years old, identifying residential township land that is within a 30-minute driving distance from the residential to the workplace is essential to cater for the young middle-class market segment.

“They prefer a good-sized landed home away from the busy city yet close enough to get to work without the hassle of a long commute,” he says.

Currently, Mah Sing’s 45 projects are spread throughout Malaysia’s economic hub and property hotspots, namely the Klang Valley, Johor Baru (Iskandar Malaysia), Penang (North Corridor Economic Region) and Kota Kinabalu.

To date, Mah Sing has a remaining gross development value (GDV) of RM24.72bil for 2,749 acres and unbilled sales of RM3.9bil, which is 2.5 times the revenue recognised from our property development in 2012.

To add value, Leong says the group’s development include green areas, landscaping, regular shaped rooms and design elements which would enhance residents’ living experience and property value.

“A good example of this is our fully-furnished Garden Plaza units where open space planning enables small to medium units from 450 sq ft to accommodate four persons. Another example is the high floor-to-ceiling height which increase the spaciousness,” he says.

The developer has also incorporated green and sustainable features with all developments adopting a North-South orientation to minimize heat gain, landscape irrigation from rainwater harvesting and energy efficient structures that will reduce the carbon footprints of each development.

On the upcoming Budget 2014, Leong hoped any proposed measures affecting the property industry will not edge out genuine buyers.

“According to the National Property Information Centre (Napic) and BNM’s statistics, there are only 0.8% growth in housing supply in Q2 2013. High growth areas, where demand has exceeded supply will see the rakyat demanding for more houses. This is not due to speculative pressures but simply a supply-demand gap that has been widening through these recent years as well as cost pushed inflation,” he says.

Mah Sing achieved approximately RM1.5billion sales for the first half of 2013, Leong said it is on track to achieve its 2013’s full year sales target of RM3bil.

The developer, who has been exhibiting their properties with Star Property Fair since its inception in 2009, sees the fair as an opportunity to increase visibility of their projects as well as the Mah Sing brand.

“(The fair) attracts not only a field of reputable developers but also a responsive and high quality audience,” he says.

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