Developer of RM240mil project targeting buyers from Hong Kong and Singapore

MAH Sing Group Bhd is targeting buyers from Hong Kong and Singapore for its RM240mil Emaryl Condo Villas project in Batu Ferringhi, Penang.

Group chief operating officer Teh Hong Chong said the group had received feedback indicating strong interest for the project from investors in both countries.

“It is not surprising the project has drawn interest from these countries as the units are priced from RM1mil onwards, which is very competitive compared with property of similar range found in Hong Kong and Singapore.

“Furthermore the property is located in a renowned resort area, and is a stone’s throw away from well-known resorts such as Rasa Sayang Resort & Spa, Holiday Inn Resort and Hard Rock Hotel,” Teh said.

The project was launched on Saturday at the Mah Sing sales gallery in Batu Maung.

Emaryl Condo Villas is spread into 20 five-storey blocks, with 10 units of condominiums per block.

“There are only two units per floor, each with built-up areas ranging between 1,510sq ft and 1,752sq ft, to ensure exclusivity and privacy.

“We also provide lifts and 479 car parks. The range of recreational facilities include infinity pool, water lounges, lifestyle cafe, gymnasium and cycling path,” Teh added.

On its Southbay Penang project in Batu Maung, he said the linked property there had appreciated significantly since their launch four years ago.

Priced around RM700,000 to RM800,000 four years ago, the linked units are now transacted at RM1.2mil to RM1.3mil at the sub-sales market.

“Also very popular among foreign investors are the bungalow units with built-up areas of 6,000sq ft to 7,000sq ft, priced around RM4mil to RM5mil, as they are very rare on the island nowadays.

“The 76 bungalow units, launched two years ago, are in advance stages of construction,” Teh said.

For Southbay City in Batu Maung, Teh said the group planned to launch a second tower block of 150 condominiums in mid-2013.

“All the condominiums will front the sea and will have built-up areas ranging between 1,000sq ft and 1,800sq ft.

“A shopping mall that will enhance the values of our property in Batu Maung is being a planned for Southbay City next year,” he added.

By : starproperty.my

Published : Jan 21, 2013

Source : http://www.starproperty.my/index.php/property-news/developer-of-rm240mil-project-targeting-buyers-from-hong-kong-and-singapore/