Cushioning the loan deal

Visitors admiring a Lamborghini car on display at the Ewein Zenith Sdn Bhd exhibition booth at the Fair 2018 held at Queensbay Mall. — Photos: ZAINUDIN AHAD/The Star

POTENTIAL buyers of quality homes are still looking for properties despite the higher interest rates of housing loans.

Mah Sing Group Bhd senior chief operating officer Seth Lim said the higher rates had affected the interest of property investors.

“However, those looking for quality homes are showing interest for products that meet their requirements.

“We are now offering easy ownership packages to reduce buyer’s initial capital outlay, so that they will have more cash in hand.

“For example, besides easy entry for our project, The Loft in Southbay City, the property comes with fully furnished package, so that buyers do not need to worry about coming up with additional cash for renovation,” he said at the Fair 2018.

According to Lim, buyers are looking at properties priced around RM300,000 to RM500,000 on the island.

“In Seberang Prai, the price is around RM300,000,” he said.

The price offered by Mah Sing ranges between RM364,000 and RM4.5mil, covering the residential, commercial and industrial segments.

“The sales from Penang should contribute about 10% of our revenue this year,” Lim said.

SPNB Aspirasi Sdn Bhd sales executive Norliza Mansor said they received encouraging enquiries in the past two days.

“We received 50 registrations for our landed property projects on display. We expect a bigger crowd on the weekend.

“A lot of the interests are coming from Penang and Kuala Lumpur,” she said.

SPNB is showcasing the Metro Maya in Batu Gajah, Perak, Taman Permai Utama in Gurun, Kedah, Purnama Residensi in Terengganu, Taman Sutera Wangi in Melaka, Aspire Residence in Cyberjaya and Tanah Al-Hamra in Tanah Merah, Kelantan.

Zeon Properties chief executive officer Leon Lee said the company had sold about RM8mil worth of projects during the fair.

Zeon Properties is marketing the City of Dreams by Ewein Zenith, Botanica. CT by MTT Properties & Development, and My Sakura 28 in Permatang Damar Laut on the island.

A total of 17 exhibitors are displaying their products at the fair, of which 15 are developers.

The developers are SPNB Aspirasi Sdn Bhd, Mah Sing Group Bhd, Ewein Zenith Sdn Bhd, Iconic Land Sdn Bhd, Regata Maju Sdn Bhd, JKP Sdn Bhd, SP Setia Bhd, MTT Properties & Development, Galeri Tropika Sdn Bhd, Devoteshens Sdn Bhd, Binwan Development Sdn Bhd, Bertam Properties Sdn Bhd, Corfield Development Sdn Bhd, Penang Development Corporation and Pembangunan Rasa Sempurna Sdn Bhd.

The other two exhibitors are Property Talk, a Penang-based real estate agency and East West One Marketing Sdn Bhd, which is an oil palm investment company.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Property , Northern Region , property fair


Did you find this article insightful?


Next In Metro News

It’s business as usual at Pasar Borong KL despite positive cases
Local plan change ‘a step in the wrong direction’
KL folk happy parks remain open
Public surprised to find popular Bukit Kiara park still closed
Authorities to act swiftly against food peddlers on road
Maid agency ordered to refund RM15,800 to client
‘RTS Link will add value to Iskandar Malaysia properties’
University goes the extra mile to spread holiday cheer
Telco offers 150 million GB of free data to users
Farm fresh products at petrol stations

Stories You'll Enjoy