http://www.starproperty.my/PropertyScene/P...Scene/15428/0/0

Mah Sing Group Berhad intends to launch linked beginner homes indicatively priced from RM390,000 as early as the first half of 2012 in its new 226 acre freehold township, M Residence@Rawang. The township has an estimated gross development value of approximately RM948million and preliminary plans include two-storey link homes, townhouses, semi detached homes, three-storey shops and various facilities and amenities.

A shares sale agreement was inked today to acquire the entire issued and paid up share capital of the registered owner of the land, Semai Meranti Sdn Bhd for RM57million. The cost of investment in the company and liabilities assumed at approximately RM35million will be less than 10% of the potential gross development value for M Residence@Rawang. The master layout and development order for mix development has been obtained and registration of interest for the project is expected to commence in the fourth quarter of 2011. M Residence@Rawang is expected be developed over three to four years and the Group is also actively scouting for more well located mega township lands which fit the Group’s business model of quick turnaround and allow for value enhancement.

Mah Sing Group managing director cum group chief executive Tan Sri Datuk Sri Leong Hoy Kum said, “This is our third land deal this year and we want to replicate the success of our award winning Aman Perdana township in Meru-Shah Alam as well as Kinrara Residence in Puchong and Garden Residence in Cyberjaya where we have created self contained, secured lifestyle townships. We intend to price the properties in M Residence@Rawang within reach of first time home buyers in line with the Government’s call for more affordable housing by private developers.”

Tan Sri Datuk Sri Leong noted, “M Residence@Rawang is exceptionally well connected. It only takes 20 minutes to get to the Rawang toll from Kuala Lumpur (Jln Duta toll) and Petaling Jaya (Damansara toll). In terms of distance, it is only 28km from both tolls. From the Rawang toll, it is less than 10 minutes or 10km to the project. A major road upgrade to turn the road into a dual carriageway from the junction of the Rawang toll to the junction of the main road to Bandar Tasik Puteri is in progress, and shall improve the traffic flow along this road. M Residence@Rawang can also be accessed via the Kuala Lumpur-Kuala Selangor Expressway (formerly known as Latar Highway).”

M Residence@Rawang is only 5km from the matured townships of Anggun 1&2@Kota Emerald and 8km from Emerald East and West. Just 5km away, a new Jusco Shopping Centre is under construction and is expected to be completed by the end of 2011.

Tan Sri Datuk Sri Leong added, “M Residence@Rawang is a prime example of our quick turnaround business model as the location is easily accessible and development order for the project has been obtained, allowing a quick launch in the first half of 2012. We only need to refine the product mix to meet current market demand, and we see this as mass housing targeting first time and younger middle class home buyers over the next 12 to 24 months. We are targeting those who want to upgrade to a well planned mixed development and as with our other townships, we intend to offer more up scaled properties once we draw in the critical mass.”

A decade of experience in lifestyle townships
Since year 2000, Mah Sing has been one of Malaysia’s market leaders in township developments and currently has four townships in Johor Bahru as well as three in the Klang Valley. Tan Sri Datuk Sri Leong noted, “Our townships have received various local and international design awards and as a lifestyle developer, we think out of the box to exceed buyers’ expectations. With 36 projects spread across Malaysia, we treat each project as a special opportunity to enhance the lifestyle of our buyers. Each new launch which comes up allows us to raise the bar in developing quality lifestyle properties for our buyer, whether it is a medium, medium high or high end project.”

Balancing the portfolio for continued earnings visibility, targeting more landbanking for mega townships
Mah Sing has been enjoying record sales, with RM1.74billion or close to 90% of its 2011 sales target of more than RM2billion locked in as at 15 September 2011. The bulk of its current unbilled sales of RM1.9billion comes from its medium high to high end residential, commercial and industrial projects, and will underpin near-term earnings sustainability. This latest acquisition of M Residence@Rawang brings the Group’s remaining gross development value and unbilled sales to RM15.4billion, and with a healthy balance sheet and low net gearing of 0.21 times as at 30 June 2011 coupled with its cash pile of approximately RM803million, Mah Sing has a landbanking warchest exceeding RM1billion.

The Group is keen on both privately held land as well as Government lands that will be developed by the private sector. Tan Sri Datuk Sri Leong noted, “Given our expertise in township development and the shift of market demand towards mass housing for the next two years, we are actively scouting for even more well sited mega landbanks to develop townships which will allow us better masterplanning for value adding.”

A property to meet every need
“Mah Sing is a fully integrated developer as we have developments ranging from landed double storey link homes, semi detached homes and bungalows, small units of high rise developments namely Small Office Home Office (SoHo) and Small Office Versitile Office (SoVo) in the city, commercial like shops and retail units, semi detached factories and also integrated mixed developments. Our strong sales-to-date proves that well located properties with good concept and design offered by branded developers will still do well. Property as always been seen as a good hedge against inflation as astute buyers lock in their investments at today’s prices, and in the current property cycle, you will never go wrong with mass market housing in good locations,” Tan Sri Datuk Sri Leong noted.

i like the way it's put: beginner homes at 390k in rawang.
almost like setting a benchmark for all other beginner homes in other locations!

call it beginner house but the price is certainly not in beginner range

they should lower down the price....at least <300k.

this is damn far man without the LATAR links




Kota Emerald is the best deal then

or u prefer seri coalfields end of latar.
at higher price. at kuala selangor already

This post has been edited by airline: Oct 5 2011, 04:47 PM

so high price at that area..
simply crazy ...

BRDB JV MPH development located at the locality of Sungai Bakau (refer to the map above)

This post has been edited by kh8668: Oct 5 2011, 08:31 PM

I personally felt that area doesnt worth that much. Its too far. 20mins is rated @ constant 120kmph.

not worth it la..

I was thinking its near to nse. Haven't been to that part of the world b4.. time for a drive. Put this on the dacing with spsetia's beranang, which is better ?

seems to be way off and much more inside compared to the rawang town area

Near to emerald, not bad, tasik puteri house price will increase after this and with the opening of intersection to LATAR highway.

More & more big developers coming to this part of Rawang. The development here is gonna be so phenomenal its touted as the next Puchong.

The prices are not going to be any cheaper in the future so better grab now or better still can target the existing houses around Country Homes, Bayu Permai, etc.

This is going to be a good place to live with many amenities in a few years.

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Added on October 6, 2011, 3:14 pmBro, 28km toll to toll. At 120kmh you can reach in 14 minutes not 20 mins. For 20 mins you only have to drive @80-90kmh.

It usually takes me only 15 mins to reach duta toll @ 110km in the morning. I leave my house at about 7.00 - 7.30.

Also take note that NSE to/fro Rawang is not as congested as other highways. So the distance is ok since you can cover it fast unlike Shah Alam / USJ for instance where you need to be stuck in jam most of the way no matter which highway you take.

This post has been edited by jdgobio: Oct 6 2011, 03:14 PM

Ya lorrr...the road from exit tol rawang to tasik puteri when can complete? If i go to my brothers house there,sure tension with the trafic.i think it almost 3yrs under construction. But after siap, sure syok wooo...

in terms of time, we cannot assume the "best case scenario" , which is obviously UNREALISTIC. Those are marketing talk. You cannot be speeding at 110km as soon as you press the pedal all the way till the toll in which 110 km/h goes down to zero when you press the brake again , justifying the 14 min.

During the 28km stretch its not POSSIBLE to be consistently driving at 110km/h (even its permitted by the law), there are cars to avoid/overtake etc. I would say slash a fraction of that 110km/h "heavenly" speed to a more idealistic value of 80 km/h AVERAGE SPEED traversing the whole 28km.

Aren't all times to key locations quoted by developers based on driving at 4am with all green traffic lights and no cars? HAHAHA

But still think price tag 390k is quite expensive...unless modern design+spacious built up+freebies..any comparison with other project nearby?

IF Compare with Emerald West latest phase this is cheaper.

By Corporate Portrait - By Eugene Mahalingam | Oct 10, 2011
Developers drawn to ‘less prime’ locations
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With the supply of land-bank getting scarce in the Klang Valley, it’s not surprising to see developers expanding their presence in “not-so-prime” locations.

This was evidenced as recently as last week, when SP Setia announced it was acquiring a RM381.2mil plot of land in Rinching, located mid-way between Semenyih and Bangi old town, to be followed soon after by Mah Sing Group Bhd’s purchase in Rawang for RM92mil.

“Granted, it is often developers with prime land-bank in Kuala Lumpur and Penang that stand to benefit more from rising property prices,” says an industry observer.

“But property conglomerates such as SP Setia and Mah Sing are well-known brand names with a proven track record. They can probably attract buyers and chalk up sales even if they bought land in Timbuktu,” he adds in jest.

A huge boost to the land acquired by SP Setia and Mah Sing is that they are both well connected. Malaysia Equity Research in a report pointed out that the former’s Rinching land is located within 15 minutes from the proposed Bandar Kajang MRT station. “(It is) near the terminal station for the approved MRT Blue Line (Sungai Buloh-Kajang) and 25km south of KLCC (which is 40 minutes via existing highways).”

The report also says SP Setia is planning to replicate the success of its twin flagship Setia Alam and Setia Eco-Park development, including investing in infrastructure to improve connectivity.

An analyst at a local bank-backed brokerage says investing in infrastructure is “part of the package” when developing land that is considered “less prime”.

Similarly, analysts are also positive about the connectivity for Mah Sing’s Rawang land. The developer has proposed to develop a mixed township, M Residence@Rawang, that includes beginner homes on 90.3ha.

“M Residence@Rawang is directly accessible from the North-South Highway, being only 10km from the exit point at the Rawang toll via Jalan Batu Arang. The Kuala Lumpur-Kuala Selangor Expressway (formerly known as Latar Highway) was opened in June,” says UOB KayHian in its research report.

“The Rawang KTM Station is also a short drive away, within 12km from the land, according to the management,” it adds.

According to Mah Sing, the M Residence@Rawang township has an estimated gross development value of about RM948mil and preliminary plans include two-storey link homes, townhouses, semi-detached homes, three-storey shops and various facilities and amenities.

“M Residence@Rawang is expected be developed over three to four years and the group is also actively scouting for more well-located mega township land that fit the group’s business model of quick turnaround and allow for value enhancement,” the company says.

The first launch is slated for the first half of next year for the mass market, in line with the Government’s call for private developers to build more affordable housing.

The move to provide affordable homes has been praised by analysts and industry observers and considered a good way to attract buyers in less prime land within the Klang Valley.

“With absorbitant property prices today, especially in the Klang Valley, it is becoming increasingly difficult for first-time home buyers to even place a downpayment for a house,” says one industry observer.

On the proposed Mah Sing development, UOB KayHian says: “The price tag for a two-storey link house (built-up of about 2,000 sq ft) is indicatively priced from RM390,000 onwards, or RM195 per sq ft. Ground checks indicate that selling prices for a two-storey link house in nearby developments such as The Emerald and Bandar Country Homes range from RM150 per sq ft to RM250 per sq ft.

“We believe the township concept should be able to attract buyers given the decent selling prices.”

Macquarie Research in its recent report says Mah Sing’s project could see good demand with the significant rise in property prices in Kuala Lumpur and Klang Valley in the past year.

“As a comparison, Kuala Lumpur Kepong Bhd (KLK) launched its link houses in June this year in Bandar Seri Coalfields with prices ranging from RM328,000 to RM368,000. We understand from KLK that the sales for the launch were very strong with over 90% sales achieved, primarily due to upgrader demand.

“Mah Sing’s new land is further up north of KLK’s project, but has good connectivity with the KL-Kuala Selangor Expressway and is 20km from Rawang city centre.”