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PETALING JAYA: Following the success of M Centura, Mah Sing Group Bhd will be launching its second project in Sentul called M Arisa in the fourth quarter of 2019 with an estimated GDV of RM656 million.
M Arisa is a freehold development comprising 1,598 serviced residences across two 55-storey towers on a 3.31-acre site.
With built-ups from 550 to 1,008 sq ft, the units will be priced from RM299,000 to RM650,000 — similar to the pricing of M Centura serviced residences which were launched in November 2017 with a GDV of RM570 million. It has achieved some 90% take-up for its 1,413 units as at July 15 this year.
Mah Sing CEO Datuk Ho Hon Sang told EdgeProp.my that the upcoming M Arisa shows the developer’s commitment to build affordably priced products of good quality in strategic and mature locations with easy access to highway connectivity and public transport hubs.
Sentul itself, he added, has been transformed from an old railway depot town into a preferred location among homebuyers offering excellent connectivity such as the Duta-Ulu Kelang Expressway (DUKE) and Middle Ring Road 2 (MRR2); as well as ample amenities such as shopping malls, public transport and schools, he said.
“New developments can be seen mushrooming within Sentul. The DUKE highway, deemed as a catalyst or a game changer for the transformation of Sentul, is located merely 1.5km from M Arisa and connects it to the rest of the Klang Valley,” Ho said.
Furthermore, the Sentul Timur LRT (Light Rail Transit) Station and three KTM train stations are less than 4km from the project, providing an alternative travelling option for future M Arisa residents, said Mah Sing general manager of sales and marketing Chris Chen.
M Arisa, he offered, will be an ideal choice for first-time homebuyers, upgraders and some young families as it offers improved designs that the developer curated based on customer feedback.
“Some people may be concerned with the density of the project but actually, over 50% of the units are one- and two-bedroom units where only one or two persons would be staying.
“On top of that, we are incorporating the concept of park-and-live with a speed parking ramp to offer a hassle-free lifestyle for the residents,” he said.
The park-and-live concept means that some residents will have their parking space located at the same level of their units. With the speed parking ramp, a resident can directly access his/her own parking slot without having to drive around the car park.
The project will also feature Sentul’s first multi-level sky garden on Level 36 with an urban amenity forest concept that encompasses the landscape or vegetation of a city.
Meanwhile, Ho is positive that Mah Sing will achieve its RM1.5 billion sales target for the current financial year ending Dec 31, 2019.
“Our products are affordably priced and are located in strategic locations — supported by our strong track record and established brand presence. Despite the current challenging market, the take-up for our launches has been reasonable at an average 50% to 60% within the first year of launch,” he said.
Backed by a healthy balance sheet with cash and balance of RM1.3 billion, the developer will continue focusing on replenishing prime lands in the Klang Valley. Mah Sing’s remaining landbank stands at 2,086 acres with total GDV and unbilled sales of about RM25.8 billion.
This story first appeared in the EdgeProp.my pullout on Sept 13, 2019. You can access back issues here.
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