Tuesday, 14 May 2013

Mah Sing sees demand shifting to Iskandar

By Chuah Bee Kim                        
Published: 2013/05/13

The value of properties in Iskandar Malaysia will see an increase in the next three to five years, says Mah Sing

JOHOR BARU: Property giant Mah Sing Group Bhd foresees a shift in demand for its properties from Kuala Lumpur and Penang to Iskandar Malaysia here in the near future.

Its executive director for operations, Lim Kiu Hock, said the shift has taken place since Iskandar Malaysia’s launch in 2006.

“The value of properties in Iskandar Malaysia will see an increase in the next three to five years,” Lim said at a press conference, here, on Saturday after an exclusive preview of The Meridin@ Medini at the Persada International Convention

The preview was attended by about 1,500 guests, with some from Singapore, South Korea, Japan, Taiwan, China and Indonesia.

The preview was on the Meridin Suites Residences, which comprise three tower blocks with 756 units.

Of these, only Tower A with 400 units and Tower C with 195 units were opened to the guests for pre-selection of units.

Tower B, which has 161 units, will only be opened for registration when the serviced apartments are launched next month. The units are pegged at between RM387,000 andRM975,000.

Besides the Meridin Suites Residences, the 3ha integrated development, with a gross development value of RM1.1 billion, also features the Meridin Linx Small Office Versatile Offices,
Meridin Walk lifestyle retail podium and Meridin Exchange corporate towers.

Lim said the company is confident of good response for the serviced apartments due their strategic location.

“Using Johor Baru’s new coastal highway, one can get to Nusajaya within 10 minutes,” he said, adding that the development is only four minutes from the Legoland theme park.

“Besides our company’s track record, another big draw is that investors in this special economic zone will get a lease extension of 30 years, making the total lease period 129 years,” Lim said, adding that government policies have boosted
the Johor property sector.

Mah Sing, incorporated since 1991, has a total of 41 residential projects comprising landed properties and high-rise, and commercial and industrial properties with a remaining GDV and unbilled sales of close to RM20 billion.

"The company has RM2.22 billion in remaining GDV and RM145 million unbilled sales from the remaining 164ha landbank in Johor," he said, adding that the company is targeting 20 per cent of its sales to come from The Meridin@Medini.

Also present were chief operating officer (township residential) James A. Bruyns and senior general manager (southern region) Dr Chai Kow Sin.

Read more: Mah Sing sees demand shifting to Iskandar http://www.btimes.com.my/Current_News/BTIMES/articles/20130513002312/Article/index_html#ixzz2TC2grrUA

1 comment :

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