KUALA LUMPUR (June 15): M Luna’s Phase 1A by Mah Sing Group Bhd has hit a take-up rate of 90% since its launch on Saturday and yesterday. Due to the good response to Phase 1A, the developer opened Phase 1B for sale with early bird privileges. Phase 2 will be launched at a later date.
Mah Sing group chief executive officer (CEO) Datuk Ho Han Sang said in a press release today that the launch of M Luna was timely and the encouraging take-up of Phase 1A of M Luna was a testament to strong demand for properties at the right locations.
Occupying a 5.47-acre (2.21ha) leasehold parcel next to the Kepong Metropolitan Park in Kuala Lumpur, M Luna has a gross development value (GDV) of RM705 million. The serviced apartment project comprises two 57-storey towers, offering 1,672 serviced apartments in total. Phase 1B and 1A have 200 units each. Scheduled to be completed by 2024, the two- to four-bedroom units will have built-ups of 700, 850 or 1,000 sq ft, fitted with air conditioners and water heaters. The selling price starts at RM385,000 per unit or RM550 per square foot (psf).
M Luna is a project under Mah Sing’s Eazy to Own campaign, done in collaboration with Maybank Islamic’s HouzKEY. This collaboration aims to provide homebuyers easy entry of up to 100% financing and lower monthly instalments.
“This positivity was also due to the government’s recently announced Home Ownership Campaign (HOC) 2020 whereby homebuyers can benefit from the Pelan Jana Semula Ekonomi Negara (Penjana) plan, which provides stamp duty exemption for instruments of transfer of residential properties, limited to the first RM1 million of the home price, and full stamp duty exemption for loan agreements. This bodes well for Mah Sing as 84% of our target sales for this year are for residential properties priced below RM700,000,” said Ho.
“Despite the current market conditions due to the Covid-19 pandemic, we are cautiously optimistic that demand for affordably priced properties of good quality at strategic locations will remain resilient. Property is still one of the safest forms of asset class for long-term capital protection and appreciation, and we believe that Malaysia is in the process of recovering from the pandemic and advancing into the revitalisation of economy on the back of the government’s proactive approach in introducing stimulus packages, especially the recently announced Penjana plan,” added Ho.
M Luna is easily accessible via the Middle Ring Road 2, Duta-Ulu Kelang Expressway and North-South Expressway. Nearby amenities include the Bukit Lagong Forest Reserve, Forest Research Institute Malaysia, AEON BiG Kepong, Selayang Mall, Tesco Extra Selayang, Taipei TCM Medical Centre Sdn Bhd, SMK Kepong and SJK(C) Mun Choong.
Public transport within a 4km radius includes the Taman Wahyu KTM Station and the proposed Metro Prima and Kepong Baru MRT stations, both of which are part of the Sungai Buloh-Serdang-Putrajaya Line slated to be fully operational by 2021.
The development features a 2.5-acre facility deck, including, among other things, a swimming pool, children’s playground, futsal/basketball court, Jacuzzi, amphitheatre, barbecue area and jogging path.
Meanwhile, Mah Sing also plans to launch M Adora in Wangsa Melawati in mid-July. The residential project will have a GDV of RM378 million with 677 residential units in total.