CEO Morning Brief

Mah Sing’s M Vertica in Cheras 90% Taken Up, Final Tower E Now Open for Sale

Publish date: Thu, 23 Mar 2023, 08:38 AM
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TheEdge CEO Morning Brief
(From left) Mah Sing Group Bhd chief executive officer of property subsidiaries Yeoh Chee Beng, special officer of Member of Parliament for Bandar Tun Razak Roslan Mahmood, Mah Sing founder and group managing director Tan Sri Leong Hoy Kum, MP for Cheras Tan Kok Wai, Mah Sing CEO Datuk Ho Hon Sang, special officer of MP for Bandar Tun Razak Kuek Zhe Han, and Mah Sing director of group strategy and operations Lionel Leong at the group's ramp officiating ceremony on Tuesday (March 21).

KUALA LUMPUR (March 22): Mah Sing Group Bhd’s M Vertica in Cheras has achieved 90% take-up to date, according to the group in a press release on Tuesday (March 21). The final tower, Tower E, is now open for sale.

With a gross development value (GDV) of RM441.9 million, the 56-storey Tower E will comprise 646 units with built-ups ranging from 850 to 1,000 sq ft, and layouts of three to four bedrooms and two bathrooms. The units in Tower E are priced from RM561,800.

Mah Sing chief executive officer Datuk Ho Hon Sang said in the press release: “Launched in 2018, the 11.25-acre (4.55-hectare) M Vertica in Cheras is one of Mah Sing’s largest M Series affordable high-rise residential developments. Comprising a total of five towers, Towers A and B of this development were completed, and 90% handed over to the purchasers.”

He added: “The remaining Towers C, D and E are targeted for vacant possession in April 2023. While Towers A, B and C are fully sold, Tower E is now open for sale. The overall take-up of this development has reached 90%.”

Mah Sing founder and group managing director Tan Sri Leong Hoy Kum said: “Based on an estimated GDV of RM2.2 billion [for the entire development of M Vertica], we want to add value not only to our customers and purchases, but also to the quality of life in the surrounding communities.

He opined: “M Vertica’s 5.3% rental yield makes it the perfect choice for homebuyers looking to invest or buy-to-stay to enjoy the broad exclusive facilities offered. In light of this, we will continue to uphold our tagline of ‘Reinvent spaces, enhance life for all Malaysians’.”

Meanwhile, M Vertica’s two-way ingress and egress ramp on Jalan Cheras is completed and scheduled to open in April 2023. The ramp, which was officially opened via an officiating ceremony on March 21, will enable residents of M Vertica direct access to their car parks on Levels 3, 3A, and 5.

According to the press release, Mah Sing invested RM23 million to build the ramp, with the objective of improving the lifestyle of M Vertica residents and easing the traffic on Jalan Cheras, Jalan Besraya, Jalan Ikan Ayu, and Jalan Ikan Emas. The construction of the ramp began in January last year.

The ramp allows M Vertica residents to access public transportation ⁠— 500 metres from the Maluri LRT and MRT interchange station, as well as 800 meters from the Taman Permata MRT Station.

Additionally, as part of Mah Sing’s ongoing sustainability initiative, the new construction methodology using an aluminium formwork system was implemented in M Vertica. The use of timber formwork was replaced with reusable aluminium, which according to the statement helps in reducing waste.

Some of the green features implemented in the project include the Stream Pneumatic Waste Management System, LED lighting for common areas, rainwater harvesting for landscape irrigation, cross natural ventilation in common corridors, and electrical vehicle charging stations. Within the homes, low-E glass is fitted for units facing west, low volatile compound paint was used, and the bathrooms come with a dual flush feature to save water consumption.

Source: TheEdge - 23 Mar 2023

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