This article first appeared in The Edge Financial Daily on October 26, 2017 - November 1, 2017

KUALA LUMPUR: Mah Sing Group Bhd will be launching a campaign today that aims to reinvent what it means to be affordable.

Dubbed “Reinvent Affordability”, the campaign will serve as a key theme in its business plan — developing more affordably-priced homes to cater to the market’s supply-demand gap. It covers the property developer’s four upcoming launches namely M Centura in Sentul, M Vertica in Cheras, M Vista in Penang and Fern Phase 2 in Meridin East, Johor.

“All projects have recorded very high registration of interest and are expected to be well taken up once the projects are launched. In fact, since the opening of M Centura and M Vertica’s sales galleries, interested buyers can be seen flocking into the galleries in large numbers on a daily basis,” Mah Sing said in a statement yesterday.

“Previously, homebuyers expect such product specifications to be made available only at above RM1,200 per sq ft price points. Now, for our new launches at the starting price of RM328,000 and above, we are 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,” said Mah Sing group managing director Tan Sri Leong Hoy Kum.

He believes there is still a supply and demand gap in the property industry with the average yearly increase of 118,000 number of household formed against the supply of 85,000 completion of new houses per year in between 2012 and 2014.

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

The latest campaign also encompasses Mah Sing’s RM23 million “Rewards Reloaded Incentive” campaign, which makes ownership of its existing projects more affordable via the provision of a RM23 million pool of incentives which comes in the form of cars, furnishing packages and interior decoration vouchers. This campaign ends on Dec 31.

The “Rewards Reloaded Incentive” campaign is applicable to a total of 29 existing projects including Southville City in KL South, Lakeville Residence in Jalan Kuching, Icon City in Petaling Jaya, M City in Jalan Ampang and Icon Residence in Mont’ Kiara.