Mah Sing optimistic over 2018 property outlook

Tan Sri Leong Hoy Kum

KUALA LUMPUR: Property developer, Mah Sing Group is optimistic over the property sector’s outlook in the first half of next year, saying it would continue to reinvent affordability by developing quality homes in strategic locations with prices that the people can afford.

This was in line with market demand and the government’s broad objective to enable everyone to own a house, said group managing director Tan Sri Leong Hoy Kum.

“We carefully plan our launches to ensure every project has its own appeal at an affordable price of below RM500,000,” he added, in a statement today. 

Leong said the Group would continue launching upcoming phases of its projects in the Klang Valley, including a high-rise residential, M Centura in Sentul, with the price starting from RM328,000, serviced residence and Residential Suites Towers of Southville  City project in KL South, M Vertica in Cheras and M Aruna in Rawang.

This is alongside a township with two-storey link homes, Meridin East in Pasir Gudang Johor and a high-rise residential project, M Vista@Southbay in Penang.

Leong also said the Group had targeted to increase its landbank in the Klang Valley to 75% from the current 66%.

It has to date acquired two pieces of land in the Klang Valley and one in Bukit Mertajam, Penang, he added.

On the industry’s outlook, Leong believed long-term demand would continue to be strong for property buyers keen to own or buy for long-term investment.

“For the mid and near term, the property industry is expected to be healthy, supported by the young demographics, growing population and low unemployment rate.

“Property as an investment asset remains one of the safest form of investment and a good hedge against inflation,” he added. - Bernama