Malaysia - RM 1.1 billion Integrated Project Unveiled In Johor

October 23, 2012

For its sixth development project in Johor, Mah Sing Group Bhd has unveiled an integrated development with an estimated worth of RM 1.1 billion.


An integrated development featuring a mix of residential and commercial components have been unveiled by Mah Sing Group Bhd, marking the developer's sixth project in Johor.


The Meridin @ Medini has an estimated gross development value of RM 1.1 billion and will offer residences as well as offices, retail units and corporate space.


Mah Sing said that the development is targeted mainly at Malaysians working in Singapore and Singaporean buyers seeking property investments outside of Singapore on account of the strong Singapore Dollar against the Ringgit. The recent tightening of residential property rules in Singapore is also thought to increase the project's attractiveness to Singapore-based investors, added the group.


Besides domestic buyers and investors from Singapore, The Meridin @ Medini will also be popular among expatriates from Japan, Taiwan, China and Indonesia, as well as empty nesters due to the wellness centre that is included in the project, said Mah Sing managing director and group CEO Tan Sri Leong Hoy Kum.

"For buyers who are looking for investment returns, an apartment costing RM 300,000 per unit can fetch gross yields of 6% to 8%, the highest returns amongst the various states," Leong said. "We believe it is the right move to launch smaller unit sizes to ensure absolute affordability, in order to tap onto these markets."

For the first phase of the project, Mah Sing will focus on building the Meridin Suites, the development's residential component, which will offer residences ranging from 500 sq ft to 1,500 sq ft. The units will be priced between RM 288,000 and RM 1 million.