Big plans for Southville City with 15,000 homes

Easy access: (from left) Mah Sing chairman Tan Sri Yaacob Mat Zain, group strategy and operations director Lionel Leong, Leong, chief executive officer Datuk Ho Hon Sang, Works Minister Datuk Seri Fadillah Yusof, Malaysia Highway Authority director-general Datuk Ismail Md Salleh and Mah Sing senior general manager Andrea Yee at the event.

BANGI: Property developer Mah Sing Group Bhd plans to build 15,000 homes within its Southville City development in Bangi – the company’s largest township within the Klang Valley.

Mah Sing group managing director Tan Sri Leong Hoy Kum said the group is already offering homes to buyers. “From today, we are handing over our Savanna Executive Suites of 3,192 units. These units will accommodate about 16,000 people,” he said during the soft launch of the Southville City Interchange here yesterday.

“We’re building 15,000 homes here. This is our biggest township in the Klang Valley and it will house 100,000 people.”

Savanna Executive Suites is part of the first phase of Southville City. The development comprises eight 28 and 30-storey towers.

Separately, Leong said Mah Sing had invested RM180mil in the new interchange at its Southville City development, which would be opened to the public by the middle of next month.

With the completion of the new interchange, Southville City is 19km from Kuala Lumpur city compared with 25km previously. The interchange will provide easy access and drastically reduce the distance to Southville City and its neighbouring districts such as Dengkil, Sepang, Semenyih, Bangi by 6km compared with the access via the Bangi toll and 4km for North bound via Putra Mahkota exit.

Southville City is a freehold masterplanned township with a gross development value of RM11.1bil.

The township sits between Seremban/Nilai and Kuala Lumpur.

Leong said Mah Sing would continue to invest in developing infrastructure for its other ongoing projects.

“This year, we completed Icon City – our first Petaling Jaya infrastructure investment. In Johor, we also did an investment to connect our Meridian East project in Kota Masai,” he said.

Leong had said Mah Sing was confident of surpassing the total sales achieved last year – based on its year-to-date performance in 2018. By focusing mainly on affordable homes, he said, the company was optimistic of achieving a minimum of RM1.8bil in sales this year.

The property developer achieved RM1.8bil sales in 2017, with 45% of residential sales coming from affordable products of below RM500,000. For its fourth quarter ended Dec 31, 2017, Mah Sing’s net profit rose 3% to RM88.78mil from RM85.61mil in the previous corresponding period on the back of steady sales from its various ongoing property projects.

Revenue in the fourth quarter increased to RM760.84mil from RM742.18mil a year earlier.

For the financial year ended Dec 31, 2017, Mah Sing’s net profit improved to RM361.90mil from RM361.36mil in the previous corresponding period, while revenue was flat at RM2.92bil from RM2.96bil a year earlier.