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GEORGE TOWN (Penang): Property developer Mah Sing Group Bhd will launch a new project in Penang, namely The Coastal, on October 4 in conjunction with its 20th anniversary celebrations over the weekend.

Marketing and Sales General Manager Yeoh Chee Beng said the project, in Southbay City on Jalan Permatang Damar Laut in Bayan Lepas here, comprises professional suites, residential suites and a shoplex, on 1.13 hectares of land.

The project, with an estimated gross development value (GDV) of RM275 million, is expected to be completed in 48 months.

"Our first focus will be on the professional suites, with a built-up area of from 575 sq. ft. and priced from RM581,800, with eight units per floor in a 25-storey building.

"We are looking at younger people who want to start their entrepreneur business. They can purchase or invest in the units, and there will be a lot of opportunities for businesses like a creative agency or small law firm," he told reporters here today.

Yeoh said the company is confident of achieving good take-up rates with the affordable prices of the suites, the first of their type in Southbay City, where such units used to go for over RM1,000 per sq ft.-- Bernama

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