RM2.45 billion in gross development value (GDV) is expected to be generated by Mah Sing Group Bhd’s property development projects in Johor and Penang. RM1.15 billion would be coming from three projects in Johor while the remaining RM1.3billion from one project in Penang, according to chief operating officer Ng Heng Phai.
Sierra Perdana, Sri Pulai Perdana I and Sri Pulai Perdana II make up the Johor projects while Southbay is the Penang Project.
At the recent Treasure Blitz grand draw ceremony, Ng said that the Johor and Penang projects will keep them occupied for the next three to five years. A retired teacher from Meru, Selangor, won an RM88,000 office suite in Austin Perdana. A RM800,000 bungalow in Kemuning Residence, Shah Alam is up for grabs at the upcoming premier event. The company had given away prizes worth RM900,000 over a few months, Ng said. RM2million has been spent for the campaign, which is open to buyers of its 14 projects nationwide.
Mah Sing would be launching Sri Pulai Perdana II before the end of the year while Southbay was soft-launched recently. Southbay would have 288 link houses priced above RM755,000, three and four storey bungalows going for more than RM2.5million each, retail shops, three to five-star hotels, serviced apartments and a retail mall.
Mah Sing was optimistic about the Johor property market as all its ongoing projects were located within Iskandar Malaysia. The group currently has a total landbank of 323.73hectares nationwide and is looking to add on to the total.