KUALA LUMPUR: Mah Sing Group Bhd (Mah Sing) is planning 10 property launches this year with the key focus on affordable products as confidence returns to buyers.
This follows the positive sentiments of buyers amidst the opening of more economic sectors and relaxation of more activities, driven by the positive progress in the National Recovery Plan (NRP) and strong vaccination rate recorded nationwide.
Around 78.8% of Malaysia’s adult population are fully vaccinated and 93.3% received at least one dose of vaccine as of Sept 19, said Mah Sing group chief executive officer Datuk Ho Hon Sang, adding that 95% of Mah Sing’s staff are fully inoculated.
“We can see the economy picking up momentum as more people are being vaccinated, including adolescents between the ages of 12 and 17. The rolling out of the NRP is key to directing Malaysia towards normalcy and sustainable economic development. We have reopened our sales galleries and resumed operations at all our project sites, while complying with all standard operating procedures (SOPs).
“While we have been able to close new property sales of approximately RM1.06 billion for the first eight months of 2021 due to our strong online sales and marketing capabilities, buyers have been looking forward to visiting our sales gallery for a more personalised consultation.
“Purchasing power from households will gradually improve and we foresee affordably priced properties at strategic locations will still be well sought after. We intend to roll out more exciting marketing campaigns to tap on this pent-up demand,” said Ho.
The new launches including eight new phases in various projects including Tower E of M Vertica, Cheras, remaining phases of M Arisa, Sentul, Phase 2 of Cerrado Suites and Tower B Sensory Residences at Southville City in Bangi, Phase 3 of M Aruna and M Panora in Rawang, service apartments in Southbay City, Penang and Erica in Meridin East, Johor Bahru.
It also plans to launch two brand new projects on its newly acquired land earlier this year, namely M Astra in Setapak and M Senyum in Bandar Baru Salak Tinggi, Sepang, which are both indicatively priced from below RM500,000, targeting to meet the pent-up demand for affordable homes.
Although it has already locked in two new land banks this year, Mah Sing continues to scout for suitable locations with Greater Kuala Lumpur, Klang Valley, Johor and Penang.
Meanwhile, Ho hoped that the Government would introduce additional incentives during Budget 2022, especially to help first-time home buyers and expedite the recovery of the property industry.
“This will lead to a wider impact on the overall economy as the property industry has a critical multiplier effect on more than 140 industries,” he said.
Among Mah Sing’s wish list are measures that can ease homeownership for first time home buyers.
“We also hope that the Home Ownership Campaign (HOC) can be extended for another year. In the meantime, we will do our part by rolling out more campaigns for our project launches, especially the affordable projects,” he said.