Mah Sing plans for two new launches in Klang Valley by year end

KUALA LUMPUR (Oct 29): Mah Sing Group Bhd is planning for two launches in the Klang Valley by this year end, said its newly-appointed chief executive officer and executive director Ho Hon Sang.

The two launches are Phase 2 of Caspia at M Residence 2 in Rawang and Cerrado Residential Suites Tower C and Tower D in Southville City@KL South.

Phase 2 of Caspia at M Residence 2 offers 140 two-storey semi-detached homes with built-ups starting at 2,205 sq ft with an indicative price starting at RM743,800; and Cerrado Residential Suites Tower C and Tower D will have 404 units in each tower with built-ups starting at 656 sq ft.

Meanwhile, the final block of D’sara Sentral in Sungai Buloh will be launched next year with a total of 197 units with built-ups starting at 781 sq ft.

Speaking to City & Country, Ho believes next year will continue to be challenging, saying the market would improve if Bank Negara Malaysia relaxed the conditions of lending.

“Based on our experience, it is difficult to get a loan now. The rejection rate is 60% and the applicants are mostly first-time homebuyers.

“The lending requirements are strict now because the household debt to GDP ratio is rising and is now 90%, though many debts are not property related,” he explained.

Ho added that he is looking to take Mah Sing to the “next level”, with emphasis on delivering a structured organisation and improving operational efficiency.

He also sees the future of digital platforms — which will replace some of the conventional methods of doing things. For instance, he predicts the possibility of 3D printing for buildings in the future.

“In China, 3D printing has been done in buildings, even though it’s not a very big scale. It also means a lot of study on the material itself, so material science is a big thing globally,” he said. 

This is an excerpt of the report in the Oct 31, 2016 issue of City & Country, the property pullout of The Edge Malaysia. Subscribe here for your personal copy.