Mah Sing banks on project pipeline, new launches

Mah Sing Group Bhd is optimistic about its prospects this year, underpinned by a strong pipeline of 21 projects and new launches in the second half of the year.

In a statement, the property developer said the pipeline of projects would support the group’s 2022 sales growth.

The projects that will be launched in the second half of 2022 include M Astra in Setapak, M Nova in Kepong, M Panora in Rawang, the remaining phases for Ferringhi Residences in Penang and double-storey linked homes in Meridin East, Johor Baru.

“Mah Sing is optimistic that its other property projects will continue to gain traction from the buyers due to their strategic locations, affordable price points and well-designed features that are aligned with current market demand,” the group said.

Aside from upcoming launches, the group is also aiming for higher vacant possession (VP) in 2022 to generate additional cash flow.

Mah Sing said its M Vertica Tower A & B in Cheras will be handed over to its purchasers in the second quarter of 2022, ahead of the delivery date, while VP for Sensory Residence phase one of Southville City will start from June 2022.

In recent years, the group has been increasing its presence in the Klang Valley through acquisitions of strategic land.

Mah Sing said it is constantly on the lookout for new land, with a focus on strategic land banks in Greater Kuala Lumpur, Klang Valley, Penang and Johor that are ideal for affordable products.

“The group is also scouting for attractively priced residential and industrial land outside of Klang Valley, such as Seremban, Melaka and Perak, for projects in the affordable range,” it added.