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(L-R) Compass Hospitality Group corporate director, Erik Wee; property owner of Loop On Leith George Town Penang Hotel and Project 10 Sdn Bhd chair person, Yeoh Tze Shyun; Chief Minister of Penang, YAB Tuan Chow Kon Yeow; Property owner of Loop On Leith George Town Penang Hotel and Project 10 Sdn Bhd director, Lee Kui Yok; and SME Bank chairman, Datuk Seri Nazir Ariff at the boutique hotel's official launch.

IT was just six months ago when Mah Sing Group Bhd acquired a 5.47-acre leasehold parcel next to Kepong Metropolitan Park in Kuala Lumpur to launch its second residential development, M Luna which today, has recorded 5,500 registrations for the properties.

M Luna comprises two 57-storey towers (Tower A & Tower B) with 1,672 serviced apartments in total. They are due for completion by 2024.

Registration of interest started in October, while the grand opening of the sales gallery, officiated by Malaysia’s Special Envoy to China, YB Tan Kok Wai, took place yesterday morning.

Mah Sing founder and group managing director, Tan Sri Leong Hoy Kum said, leveraging on the group's proven track-record and experience as a property developer for the past 25 years, he is optimistic that M Luna will be well received in the market on the back of its attractive pricing points, coupled with its lifestyle amenities and surrounding infrastructure.

M Luna is located 3.3km to the upcoming Metro Prima MRT2 Station, which is targeted to start operations in 2021, 4km from the Taman Wahyu KTM station and 5km from Lakeville Residence in Taman Wahyu, Batu Caves.

Lakeville Residence is the first project by Mah Sing in the Kepong area. It features six residential towers and 10 two-storey shops. The project was launched four years ago and is 99 per cent taken up.

The first four towers have been completed and handed over. The remaining two towers will be completed next year.

"M Luna is our latest injection into the market, further reinforcing our commitment to continue to build affordably priced products of good quality at strategic locations to meet the needs of buyers’ today," said Leong.

The project has an estimated gross development value (GDV) of RM705 million, and is expected to offer good margins to Mah Sing. The proposed most affordable units would have built up from 700 sq ft and indicatively priced from RM385,000 or RM550 per square foot. The units range from two to four bedrooms with 1-2 car parks per unit.

Mah Sing is targeting first-time homebuyers, upgraders, working professionals, young couples, young families and investors from the surrounding neighbourhoods like Taman Wahyu, Taman Selayang Jaya, Sentul, Batu Caves, Bandar Menjalara, Segambut and Taman Seri Gombak.

In terms of land value, Mah Sing's wholly-owned subsidiary Vienna Home Sdn Bhd acquired the parcel from JL99 Holdings Sdn Bhd for RM94.76 million in July this year.

An Artist Impression of M Luna in Kepong. (Pic by Mah Sing)

Ideal home living choice in Kepong

Mah Sing chief operating officer, Yeoh Chee Beng said M Luna is located at a prime area, which meets the buyers’ current demand.

It is strategically situated within matured surrounding neighbourhoods with easy access to various lifestyle amenities and is accessible via many access points and method of transportation, said Yeoh.

Yeoh added that there are plans for an upcoming proposed infrastructure improvement within the surrounding vicinity, which includes the construction of a road and two interchanges connecting Jalan Kepong to MRR2.

"M Luna is built with various special features to provide residents a complete and balanced lifestyle living. All units are north-south orientation, is designed with low volatile organic compound paint, and is equipped with express car park ramps for buyers’ ease of convenience," he said.

The other unique features at M Luna is that all bathrooms have natural ventilation; cross natural ventilation for common corridors; stream pneumatic waste management centralised garbage disposal system; rainwater harvesting system for landscaping; two units of electric vehicle charging station; LED Lighting at all common areas; and a multi-tier security syste

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