MAH SING Group Bhd projects from Penang are expected to contribute 11% of the group’s 2019 revenue, which is more than the 5% generated last year.
Its chief operating officer Everlyn Khaw said the group has set a higher target as there are new projects to be launched in Penang for 2019.
The group plans to develop serviced apartments in Southbay City in Batu Maung and the Pykett project in George Town.
Mah Sing is currently showcasing the M Vista@Southbay and Ferringhi Residence 2 at the four-day StarProperty.my Fair 2019, organised by Star Media Group, at Sunway Carnival Mall in Seberang Jaya, Penang, until tomorrow.
“About 87% and 60% of the units in M Vista@Southbay and Ferringhi Residence 2 have been taken up. The pricing and location appealed to the visitors.
“The interest for housing loan, currently at about 4.4%, is attractive to those with the disposable income to invest in properties.
Visitors checking out the Ferringhi Residence 2 project by Mah Sing Group at the StarProperty.my Fair 2019 being held at Sunway Carnival Mall in Seberang Jaya. — ZHAFARAN NASIB/The Star
“Although the property market is soft, strategically located projects still command interest from property hunters.
“The enquiries for the projects come from those looking to generate a long-term rental income and those with plans to upgrade their lifestyle,” said Khaw.
Khaw also said the government’s Home Ownership Campaign would help to boost property sales especially for houses priced between RM300,000 and RM1mil.
“For 2019, we have lined up new launches worth RM2.2bil in the country.
“About 81% of our targeted sales in 2019 comprises properties of RM700,000 and below. The unbilled sales in 2019 is RM25.7bil,” she added.
The other developers exhibiting at the fair are SV Group, Tambun Indah Land Bhd, and JKP Sdn Bhd.
East West Horizon Plantation Bhd, an oil palm plantation investment company, and CTOS Data Systems Sdn Bhd, Malaysia’s largest private credit reporting agency, are also exhibitors at the fair.
Another project which has grabbed the attention of property hunters is Hunza Properties Bhd’s TreeO, which has a gross development value of over RM450mil.
According Hunza managing director Datuk Khor Siang Gin, the TreeO is the group’s first affordable residence.
The development is crafted on elevated land with green hills as its background and unobstructed views of the cityscape in front.
With over 50% of the project site dedicated to greenery, residents can enjoy the cool breeze amidst a serene environment.
“Demand for affordable housing will remain strong, the key is how we supply to the right demand with the right price.
“For areas where housing is affordable, such as Sungai Ara, there is still a need for new affordable housing projects for the lower income group.
“With the government’s decision to waive the stamp duty for memorandum of transfer and loan agreement for residential homes valued up to RM300,000, we believe that the transactions in the affordable housing segment will increase,” said Khor.
The TreeO project will officially be launched this year (in 2019).
Meanwhile, Zeon Properties chief executive officer Leon Lee said he is targeting a sales of RM20mil for City of Dreams.
Zeon Properties is the marketing agent for Ewein Zenith’s City of Dreams.
Besides having so many products under one roof, the fair ending tomorrow also sees the return of the Beli & Menang contest.
It is a homebuyer reward programme open to those who make bookings and complete their Sales & Purchase Agreement (SPA) with participating developers of StarProperty.my Fairs throughout the country this year.
Running until Nov 30, it offers a brand new SUV X70 as the grand prize. Purchasers can register online at fair.starproperty.my/beli-menang.
Then, answer a simple question and submit a slogan under ‘What does ‘home’ mean to you’ in English with 150 characters or less.
Participants will have to submit their booking forms before the closing date (11.59m on Nov 30), and SPA before Dec 31, to email@example.com.