Mah Sing Group Bhd, the Malaysian developer that spent the most on landacquisitions in 2010, said it may pay more than RM1 billion (US$330million) for new sites this year as the fastest growth in a decadespurs sales.
The developer is seeking to buy land with potential sales valued at RM7billion to RM12 billion, managing director Leong Hoy Kum said in aninterview in Kuala Lumpur yesterday. The properties, which will alsoinclude commercial buildings, will be developed in the next five toseven years.
Mah Sing is boosting acquisitions as home prices climbed 6.2 per centto a record in the third quarter, according to government data. MahSing spent RM756 million buying 285 acres of land last year, more thandouble its 2009 investments and beating Malaysian rivals as it bet onincreasing property demand with government efforts to boost economicgrowth.
“We have a war-chest of RM777 million to spend, land banking is part ofour aggressive expansion strategy,” Leong said. “The economic outlookremains bright and consumers are more willing to buy big-ticket itemslike properties.”
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发表于 23-3-2011 12:07 AM
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