Mah Sing Group Bhd will continue to develop affordably priced products going forward considering the challenging market environment.
Mah Sing CEO Datuk Ho Hon Sang said the property developer is committed to continue rolling out good quality yet affordable properties.
“About 81% of our full-year target sales for 2019 are from residential properties priced below RM700,000," Ho said at the launch of M Oscar’s sales gallery today (Oct 2).
“Affordability has always been the key focus in homeownership, and thus, there is a rising need from buyers today for quality residential developments that are affordably priced in strategic locations with ready amenities and infrastructure,” he noted. Hence, he added that he is confident that M Oscar will be highly sought after.
Mah Sing Group founder and group managing director Tan Sri Leong Hoy Kum who was also present at the launch event said the developer had chosen to focus on delivering properties in the affordable range owing to the current challenging property market.
"But overall, we are positive towards the market as there are still many young people in Malaysia, and the country's GDP has healthy growth," Leong added.
Also present at the event were Malaysia's Special Envoy to China YB Tan Kok Wai, and Mah Sing director of group strategy and operations Lionel Leong.
The developer will officially launch M Oscar this weekend (Oct 5, 2019). The freehold serviced apartment is located at KL’s Salak South Garden, which is off Kuchai Lama and within the vicinity of the mature neighbourhood of Happy Garden and Sri Petaling.
The development will sit on a 4.63-acre site which was the first land that Mah Sing acquired this year. The commercial-titled development has a gross development value (GDV) of about RM500 million.
There will be 910 units in two towers (32 and 31 floors) linked by a 2.7-acre facilities deck. Facilities include an Olympic-size swimming pool, wading pool, Jacuzzi, BBQ pavilion, KTV room, herb garden, gourmet kitchen, jogging track, gym and yoga room, ping pong room, children’s playground and multi-purpose hall.
Buyers could choose from four layout types, with built-ups ranging from 708 sq ft to 1,198 sq ft. The smallest unit has two bedrooms and two bathrooms, while the largest unit comes with four bedrooms and three bathrooms. A dual key option is also available. Prices start at RM428,000 or RM650 psf on average.
Meanwhile, Mah Sing’s general manager of sales and marketing Chris Chen said the two-bedroom units at M Oscar would be suitable for bachelors or young couples, whereas small families could choose the three-bedroom units. “For bigger families, a four-bedroom unit might be suitable for them, and investors might like the dual-key units,” he said.
M Oscar offer unblocked views of the surrounding areas as it is located in the middle of a low-rise neighbourhood. All units in the development are north-south oriented.
Each unit will be allocated with two to four parking lots. The number of visitors’ parking lots is more than 10% of the units, exceeding the government’s minimum requirement.
The project is located 800m away from the upcoming MRT2 Taman Naga Emas Station. M Oscar is also well connected to highways including the Maju Expressway, Kesas highway, the NPE, Federal Highway and the KL Seremban Expressway.