Mah Sing scores two wins at Asia Pacific Property Awards

PETALING JAYA (May 8): Mah Sing Group Bhd has won the "Five-Star for Leisure Development" award for The Loft @ Southbay City in Penang and the "Highly Commended for Commercial High-Rise Architecture for Malaysia" award for D'Sara Sentral at the Asia Pacific Property Awards for 2015-2016.

"We are happy to receive these awards because they elevate the profile and good name of the projects," Mah Sing Group general manager of marketing and sales Yeoh Chee Cheng told theedgeproperty.com in an immediate response.

The Loft @ Southbay City in Bayan Lepas is a low-density residential project strategically located within 1km of the Second Penang Bridge and 7km from Penang International Airport. It is part of the integrated Southbay City township and spans 3.71 acres of freehold land. It has a gross development value (GDV) of RM290 million.

The Loft @ Southbay City offers 156 serviced suites in two tower blocks. Prices are RM1,100 per sq ft (psf) for a built-up area of between 1,378 sq ft and 1,680 sq ft. There are six types of three and 3+1 bedroom suites, and a penthouse. Limited units remain available for sale.

Facilities include a sky gym, a reading lounge on the 15th floor, a swimming pool, wading pool, playground, a multi-purpose room and 24-hour security with CCTV.

D’Sara Sentral is an integrated development (GDV: RM938 million) in Sungai Buloh, Selangor comprising four blocks of serviced residences, one block of Sovo (smart office, versatile office) offices and lifestyle retail shops.

“D’Sara Sentral is located opposite an MRT station (Kampung Selamat), which I believe will transform the lifestyle in the area once it is operational,” Mah Sing Group chief operating officer Andy Chua said.

He expects the value of D’Sara Sentral to increase after the MRT is operational.

The site is located close to Kwasa Land Sdn Bhd's 2,330-acre mixed-developments that are expected to drive the value of property in the surrounding areas upwards. 

(Kwasa Land is a subsidiary of the Employees Provident Fund.)

D'Sara Sentral offers two blocks of 494 serviced residences with built-ups starting from 809 sq ft and are priced from RM538,000. To date, the first block is more than 80% sold and the second, 60%.

Mah Sing plans to launch the remaining blocks in 3Q2015. They will feature 444 units with built-ups starting from 752 sq ft, priced from RM600,000 upwards.

The 322-unit Sovo components are 70% sold. They are priced from RM388,000, with built-ups from 504 sq ft. The retail components are 80% taken up and the tenant mix includes a supermarket, banks, food and beverage outlets, and home decoration and furniture outlets.