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Saturday, 6 May 2017

(The Star) Mah Sing to sell more affordable homes

Property developer Mah Sing Group Bhd says it will be selling more properties in the affordable range to serve the bigger segment of the population in the next two years.

Chief executive officer Datuk Ho Hon Sang says that in a slow real estate market, the developer has observed an overwhelming take-up rate for properties in the affordable range of RM500,000 and below.

At present, about 33% of Mah Sing’s housing projects are affordable homes, while 73% of its planned launches this year are in the range of RM700,000 and below.

“Properties in the range of about RM500,000 and below are currently experiencing good take-up rates.

“Therefore, in a soft property market such as this, we will push more affordable homes, as these are what buyers are looking to own now,” Ho told reporters on the sidelines after launching Mah Sing’s RM23mil Celebration Rewards in Icon City yesterday.

Currently, Mah Sing is involved in three affordable housing projects below the RM300,000 price category, namely Residensi Seri Wahyu in Lakeville Residence, Jalan Kuching, Rumah Selangorku in M Residence 2 in Rawang and Rumah Mampu Milik Johor in Meridin East, Iskandar Malaysia.

For homes below RM500,000, the group will be launching three projects this year, which include two-storey link homes in Meridin East and serviced apartments in Caspian@Meridin Bayvue in Johor as well as serviced apartments in Southbay City, Penang.

Despite the soft property market, Mah Sing had previously said that it planned to roll-out projects every quarter of 2017.

Meanwhile, on the RM23mil Celebration Rewards, Ho says this is a two-month long sales campaign in conjunction with Mah Sing’s 23rd anniversary celebration.

“The campaign aims to reward buyers instantly and help ease home ownership. It is also in line with the group’s transformation this year.

“The campaign will attract buyers, including first-time buyers, home upgraders and investors,” he adds.

Rewards totalling up to RM23mil will be given away to buyers of participating projects from May 1 onwards and covered all of Mah Sing’s products that include commercial, residential and industrial.

The campaign will see attractive giveaways that include luxury cars such as Mercedex and BMW, Signature Kitchen vouchers and complimentary furnishing packages.

Rewards also come in the form of deferred payments, lucky dip, cash back, complimentary service charges, goods and services tax subsidies and foreign levy absorption, among others.

In line with the campaign, Mah Sing will be hosting fun-filled activities every weekend, starting today over the two-month period.

Look forward to a Mother’s Day Par-Tea at Southbay Sales Gallery in Penang and Mother’s Day celebration at Southville City Sales Gallery in Bangi this weekend.