Mah Sing focuses on affordable homes in Klang Valley

Mah Sing Group Bhd will remain focused on affordable homes, priced below RM1mil, especially in the Klang Valley, due to the overall cautious sentiment.

Managing director and group chief executive, Tan Sri Leong Hoy Kum said on Thursday: “We have to sell what people want to buy and our strategy of reaching out to the mid-range mass market is in line with current market needs amidst the challenging property market.”

The company’s pricing strategy for 2015 is that 84% of planned residential launches will be below RM1mil.

Leong said the industry was cautious despite that the fundamentals remained intact.

“Our products are focused on affordable homes priced below RM1mil mainly concentrated in the Klang Valley. We are cautiously optimistic this will mitigate the challenges the industry is facing,” he said.

As fundamentals remain intact, the group anticipates buying momentum to pick up by 2H15 as demand continued to outstrip supply for the affordable residential segment.

“We have intensified our marketing efforts and strategies to differentiate ourselves by offering a diversified range of attractively priced properties at various growth locations in line with market demand.

“For example, the group’s mid-range mass market products like Savanna Executive Suites@Southville City (priced from RM433,000), D’sara Sentral Serviced Residences, Sungai Buloh (priced from RM597,000) and Lakeville Residence, Taman Wahyu (priced from RM600,000) offer attractive lifestyle concepts as well as improved accessibility connectivity.”

“The rapid and ongoing public infrastructure developments such as the MRT 1 and 2, LRT extensions and LRT 3, proposed Bus Rapid Transit and proposed High Speed Rail will also help to promote interest in properties in certain new growth corridors, benefitting our various strategically located projects in Malaysia’s economic hotspots,” said Leong. - By The Star