Mah Sing to unveil RM1.1b project in Medini @ Johor Bahru

Following the signing of a lease purchase agreement with Iskandar Investment Bhd, Mah Sing Group Bhd is set to launch a mixed-development project worth RM1.1 billion in Medini, Iskandar Malaysia by 2013.
Dubbed as The Meridin@Medini, the project will feature the Meridin Exchange corporate towers, the Meridin Suites residences, the Meridin Walk lifestyle retail mall and Meridin Linx SoVo units (small office versatile offices).

Phase I, or the Medini Suites will offer more than 700 residential units (500 sq ft) with prices starting from RM288,000. Registration of interest will start immediately, according to a report by The Business Times.
Interestingly, The Meridin@Medini is also Mah Sing's 40th project; and with the signing, the firm's total unbilled sales and gross development value stands at RM18.8 billion.

Tan Sri Leong Hoy Kum, Group Managing Director at Mah Sing, said the company will not encounter cash-flow strains with the new project, as well as in other on-going developments.
"With Mah Sing's strong branding and our very much market-driven products, these have resulted in good take-up rate of our products of at least 70 percent."

"We are a company that is gearing-conscious. We manage our cash flow prudently and manage our risks as a responsible developer," added Leong.