19February, KUALA LUMPUR – Mah Sing Group Berhad continues its momentum in 2021 as the property developer will be developing a new 100 acres land in Bandar Baru Salak Tinggi, comprising mainly affordable landed homes that have an estimated gross development value (GDV) of approximately RM656million.
Based on preliminary plans, the development to be named as M Senyum is envisaged to be a landed residential project comprising mainly double story terrace houses with indicative land size of 18’X65’ and 20’X70’, with indicative starting price from RM399,000. This aligns well with the Group’s current strategy of focusing on affordable landed homes in the outskirts/suburban areas and affordable high rises in the central business district (CBD) areas.
Subject to market conditions and the relevant authorities’ approval, M Senyum is expected to be developed over a span of five years, with registration of interest and launching targeted to be in the second half of 2021. This also augurs well for the Group’s quick turnaround strategy, which will allow Mah Sing to meet current market demand from genuine first home buyers and upgraders from matured townships nearby. The Group holds high prospects of the land in view of its good connectivity, established catchment and ready amenities within the vicinity.
In addition, this new development further strengthens Mah Sing’s portfolio composition with affordable bread and butter landed homes, which is what Malaysians want at the moment. In recent years, the Group has built up its brand presence in the southern part of Klang Valley with notable townships such as Southville City in Bangi and Garden Residence in Cyberjaya. Mah Sing will leverage on its track record, established branding and in-depth knowledge of the market demand to create a desirable development.
The mid-range products of M Senyum are expected to attract a large catchment of home upgraders as this development is nearby to established townships such as Kota Warisan, Bandar Baru Nilai, Dengkil, Putrajaya and Cyberjaya. The affordable price point would also attract home buyers who are considering new properties in Seremban, as the new development would provide them a Klang Valley address.
This is Mah Sing’s first land deal in 2021. The Group will continue to scout for more lands which suits its fast turnaround business model with Greater Kuala Lumpur and Klang Valley being the focus areas, riding on its healthy balance sheet with cash and bank balances and investment in short-term funds of approximately RM1.13 billion as of 30 September 2020,
Continuously expanding footprint in Klang Valley – Affordable homes in demand & aligned with current group strategy
In the recent years, the Group has been increasing its presence in Klang Valley through acquisitions of strategic lands like M Vertica in Cheras, M Centura and M Arisa in Sentul, M Adora in Wangsa Melawati, M Luna in Kepong and M Oscar off Kuchai Lama as the demand for property remains resilient as a result of urbanisation, population and economic growth. These projects with healthy take-up have proven the Group’s ability to acquire reasonably priced prime lands and provide tailored products that meet the requirements of the target customer segment.
The proposed affordable double storey terrace houses of M Senyum, Bandar Baru Salak Tinggi aligns well with the Group’s current strategy of focusing on affordably priced properties within strategic locations in Greater Kuala Lumpur and Klang Valley. For 2021, 51% of the Group’s properties are priced below RM500,000 and 91% are below RM700,000.
Mah Sing’s recent landed projects that were launched end of 2020 such as Phase 2 of Acacia in its Meridin East township in Johor as well as Phase 2A Carya @ M Aruna township in Rawang have both recorded overwhelming response of above 80% and 90% take-up during their weekend launch respectively. The Group believes M Senyum will also reflect similar success and could provide a balanced lifestyle for those who rejoice in life away from hustle and bustle of the city, while still able to enjoy the convenience of the highway connectivity as well as nearby amenities.
Bandar Baru Salak Tinggi – Well-connected Airport City
Bandar Baru Salak Tinggi, which is also known as the Airport City is well connected to Kuala Lumpur City Center, Putrajaya and Cyberjaya via major accesses and highways such as ELITE Highway, North-South Expressway, Putrajaya-Cyberjaya Expressway, Jalan Banting-KLIA and KLIA Extension Highway.
Within 10 km of the land, there are ready amenities such as ERL Salak Tinggi Station which offers a twice-hourly KLIA Transit service to KLIA / KLIA2 and KL Sentral, Bandar Baru Salak Tinggi Stadium, Nilai Medical Center and KIP Mall, Kota Warisan. Apart from that, there are also 6 universities nearby namely Xiamen University, INTI International University, Nilai University, Manipal International University, University Kuala Lumpur and Islamic Science University of Malaysia.
There are also many industrial parks surrounding the project, such as Nilai Industrial Park, Cainiao Warehouse by Alibaba Group, Hartalega NGC, Bandar Enstek (Seremban).