28 February 2013
| last updated at 06:14PM
PROPERTY NEWS: Mah Sing targets sales of RM3 billion for 2013
HIGHER SALES: Lifestyle developer Mah Sing Group Berhad aims to gross RM3 billion sales for 2013, on the back of a bumper year in 2012 which saw sales of RM2.5 billion, a double digit improvement over the previous year.
The 2013 sales target of RM3 billion will mostly come from landed residential and niche-sized high-rise projects and is in line with their existing scale of operations of 40 projects.
In a statement, Mah Sing said its net profit for FYE2012 escalated 37 per cent to RM230.6 million on the back of revenue of RM1.78 billion.
Mah Sing’s Group Managing Director cum Group Chief Executive, Tan Sri Datuk Sri Leong Hoy Kum said:“We have been spot-on with market demand in terms of our launches, allowing us to deliver commendable double-digit growth in both revenue and profits. For 2013, we expect our sales to be boosted by six new projects on top of our existing projects. The registration numbers are very encouraging, showing that there is still pent-up demand especially for properties providing good value for the mass market and middle income group. For example, we have already secured more than 8,000 registrants for our Southville in KL South as the first phase of executive suites is attractively priced at only RM280,000 for the three-bedroom, 975 sq ft units.”
To support the sales target of RM3 billion, the Group intends to roll out launches worth RM3.7 billion in 2013, the bulk of which will be in Greater KL.
M Residence 2 Rawang will offer link homes from RM480k following success of M Residence 1.