Saturday 22 Jun 2024
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KUALA LUMPUR (Oct 25): Property developer Mah Sing Group Bhd will be launching its 'Reinvent Affordability' campaign tomorrow, which will serve as a key theme in the group's business plan — to develop more affordably priced homes to cater to the market's supply demand gap.

Its managing director Tan Sri Leong Hoy Kum said there is still a supply and demand gap in the property industry, with an average yearly increase of 118,000 households formed against a supply of 85,000 completed new houses yearly between 2012 and 2014.

"We believe that our business direction in developing more affordably priced homes does not only bridge the mismatch in supply and demand gap for the affordable segment but also ties in with the government's broad Budget 2018 objectives in helping rakyat to own a home," he said in a statement today.

The campaign covers the group's four upcoming new launches, namely M Centura in Sentul — a freehold residential development, M Vertica in Cheras — a serviced residence, M Vista in Penang — a residential development, and Fern phase 2 in Meridin East, Johor — two-storey homes, where unit selections will begin from this weekend onwards.

"All projects have recorded very high registration of interest and are expected to be well taken up once the projects are launched," he said.

Leong said keeping the best interest of homeowners in mind, the group plans for its residential products to be affordable without compromising the quality and facilities to further enhance the life of homebuyers.

"We want our customers to be able to enjoy the best of both worlds by providing homes with superior product specifications at a price point many can actually afford," he said.

Previously, home buyers expect such product specifications to be made available only at above RM1,200 psf.

Now, for the new launches at starting prices of RM328,000 and above, the group is able to provide buyers with a freehold Kuala Lumpur address, full-sized badminton court, basketball court, efficient unit layouts, automated waste disposal system, three-tiered security integrated with community mobile application and more.

"We want to reinvent what it means to be affordable," he said.

Moving forward, Mah Sing will continue to develop accessible and well-planned products.

"We want to position Mah Sing as the leading developer in the nation for affordable homes," Leong added.

At 11.05am, Mah Sing shares remained unchanged at RM1.56 with 92,000 shares traded, for a market capitalisation of RM3.77 billion.

 

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