Minimum sales target of RM1.5billion/launch target of RM2.2billion with focus on affordable homes at strategic locations
Continues digital transformation for sustainable value creation
19 March Kuala Lumpur, 2019 – Mah Sing Group (Mah Sing) announced that it is targeting to launch RM2.2billion worth of properties for 2019 during a media briefing at Invest Malaysia 2019 (IMKL) in Shangri-La Hotel Kuala Lumpur today. The Group is aiming for a minimum of RM1.5billion sales with the focus on affordable homes, priced below RM700,000 at strategic locations.
The company which is in net cash position and has RM1.22billion cash and bank balances as at 31 December 2018 is also aggressively looking for landbank, particularly in the Klang Valley. Mah Sing currently has 2,105 acres of land in Malaysia, yielding gross development value and unbilled sales of approximately RM25.7billion which provides them with 8 years of earnings visibility.
Mah Sing’s Founder and Group Managing Director, Tan Sri Dato’ Sri Leong Hoy Kum said, “We would be keen on land which is suitable for niche projects and ready for immediate development. Over the past several years we have fine-tuned our execution of such projects to a fine art. Our strategy of providing homes with luxury features at affordable rates has worked well, allowing us to record sales above the billion-ringgit mark for 9 consecutive years.”
Some of the projects marketed using the affordable luxury strategy includes new projects such as M Vertica in Cheras and M Centura in Sentul. Both were launched under the RM500,000 mark yet well located near public transportation links. They are also packed with full facilities. Other projects included Southville City’s Savanna Executive Suites completed in 2018 which enjoys comprehensive facilities and won the The Edge’s Affordable Urban Housing Excellence Award. M Residence 2 – Alpine link homes also won The Edge-PEPs Value Creation Excellence award for its capital appreciation of 25% between 2014 and 2017.
Tan Sri Dato’ Sri Leong commented, “Besides location and pricing, the lands we are looking for should also allow us good payment terms as we need to ensure these new projects fit into our business model. We are a good paymaster and business partner, and willing to work with landowners for the best win-win arrangements.”
Ambition, Purpose, Clarity: Mah Sing’s Digital Transformation for Sustainable Value Creation
Tan Sri Dato’ Sri Leong Hoy Kum said, “Property development is viewed as the Old Economy, whereas AI, block chain, cloud computing, data analytics, robotics and 5G network are considered the sexier, New Economy. In keeping with Invest Malaysia’s theme of Ambition, Purpose, Clarity, we wanted to talk about how Mah Sing’s technological and digital initiatives were driving our business and allowing us to have sustainable value creation.”
Mah Sing has embraced digital initiatives in every part of the property journey, from sales and marketing, construction management and quality assurance, customer experience and engagement to property management.
For customers, the MY Mah Sing app was launched in April 2018 and provides a number of services that caters to the homebuyer’s journey from when they first sign the Sales & Purchase Agreement to the moment they receive the keys to their unit and start a home. They are able to keep abreast of construction progress, project updates, digitalize the vacant possession process and keep buyers updated on any defect rectification. The app further enhances the customer experience and provides convenience to buyers, allowing them to book facilities, register guests and renovation contractors.
For construction management and quality assurance, Mah Sing and its contractors uses collaboration tools such as snagR to monitor construction work quality. Mah Sing’s staff are equipped with best of breed technology support to ensure communication and collaboration between departments and amongst its regional offices in Klang Valley and Greater KL, Penang, Johor Bahru and Sabah.
Mah Sing has leveraged on the strength of digital marketing to enhance the lives of its tech savvy customers and reach out to wider market segments. In November 2018 it became the first developer in Southeast Asia to collaborate with tech giant Lazada to list homes online, enabling home buyers to register their interest in properties online for additional incentives.
Group’s Sales Incentives in 2019 to celebrate Silver Jubilee, Mah Sing sets minimum sales target of RM1.5billion
2019 marks Mah Sing’s 25th anniversary as one of Malaysia’s top property developers and the Group is steadfast on achieving its target of minimum RM1.5billion sales with a focus on affordable homes at strategic locations. The Group’s approach is on the right track as a recent survey from Starproperty.my in 2019 shows a demand for affordable home prices in ideal locations.
Tan Sri Dato’ Sri Leong Hoy Kum said, “Mah Sing’s strategy is in the right direction as 81% of our sales targets for 2019 are in the range of RM700,000 and below. In addition, our strong brand and track record over these 25 years as a leading property developer has resonated with home buyers who are seeking brands they can trust as they make a momentous purchase.”
“To celebrate our 25th anniversary, we want Malaysians to see the possibilities of them becoming proud home owners and are pleased to reward home buyers with the up to ‘RM500,000 In Your Bank and the Refer n Reward+ (RnR+) sales incentives.”
In early March, the Group launched two sales initiatives at the Home Ownership Campaign (HOC) 2019 Expo, which was held over three days at KLCC. Following overwhelming response from huge crowds at Mah Sing’s booth, the Group extended its Refer n Reward+ (RnR+) together with its Up to ‘RM500,000 In Your Bank’ to 30 June 2019.
Property Outlook in 2019
Tan Sri Dato’ Sri Leong shared, “We foresee that the new policies and incentives introduced by the Government will continue to drive the momentum of the property industry and ultimately, contribute to the nation’s economic growth. Medium to long term outlook will continue to be strong for property buyers who are buying to own or buying for long-term investment. Property as an investment asset remains one of the safest forms of investment and a good hedge against inflation. We believe properties in the affordable range and at good locations are still seeing good demand.”
2019 launches continue to focus on affordable homes with strategic locations; 81% of residential sales target priced below RM700,000
The Group’s launches in 2019 with an estimated GDV of RM2.2 billion include:
Klang Valley
M Vertica, Cheras Tower 3 & 4 (high-rise residential, starting from RM480,000)
M Arisa, Sentul (high-rise residential, indicatively priced from RM350,000)
Sensory serviced residence, Southville City, KL South (high-rise residential, indicatively priced from RM344,000)
Basil @ M Aruna, Rawang (2-storey link homes, indicatively priced from RM550,000)
Onyx Icon City, Petaling Jaya (a “wellness” enhanced corporate park, indicatively priced from RM1,500,000), strata units and corporate en bloc available
Johor
Hazel in Meridin East, Pasir Gudang (2-storey link homes, indicatively priced from RM487,000)
Orchid in Meridin East, Pasir Gudang (2-storey link homes, indicatively priced from RM463,000)
Penang
Pykett Project, Georgetown (high-rise residential, indicatively priced from RM1,300,000)
Ferringhi Residence 2, Block B (high-rise residential, indicatively priced from RM1,149,800)
Southbay City, Upcoming Phase (high-rise residential, indicatively priced from RM 600,000)
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