Ringgit’s fall will not affect housing market, says Mah Sing Group

Picture courtesy: thesundaily.my

Residential and commercial developer Mah Sing Group Bhd says the ringgit’s depreciation will not affect the housing market especially for first-time buyers, and demand is still strong.

Last year, the company achieved Malaysia’s highest domestic property sales of RM3.43 billion, and this year is aiming for about the same sales figures, Chief Executive Officer Ng Chai Yong told reporters at the ‘The Edge-Mah Sing Millionaire Contest’ launch here today.

Mah Sing has a 1,214 ha. land bank in the Klang Valley, Johor Baharu, Penang and Kota Kinabalu and is is looking to acquire more land but is careful in its choice, he said.

Residential launches in the next few months include two apartment blocks in D’sara Sentral, Sungai Buloh; a serviced apartment in One Lagenda, Cheras; and several apartment blocks in SouthVille City@KL South, with prices starting from RM500,000.