So, everybody will serbu la like this? Hehehehee

This project is even further than klk one?
Klk one launch price is rm180k back then

This M Residence is sibeh far....no other choices that nearby meh?

Far this year..but 2yrs later maybe not to far...hehehehe

yea.... ppl complained the same thing with Setia Alam many many years ago.

there's NOT MANY empty plot of land with all of our favorable "10 km from city epicentre" to build a township anymore.

Mah Sing makes strategic switch to affordable housing


By Kay
Friday, 07 October 2011 17:38

Mah Sing Group Bhd
(Oct 6, RM1.77)

Maintain underperform at RM1.80 with revised fair value of RM1.55 (from RM1.47): Mah Sing announced that it has entered into a shares sale agreement to acquire the entire stake in Semai Meranti Sdn Bhd for a total purchase consideration of RM92 million (out of which RM35 million is the liabilities in the company).

Semai Meranti is the beneficial owner of a piece of freehold development land (with development order) in Rawang measuring 225.7 acres (90.28ha). Therefore, the price tag translates into a land cost of RM9.36 psf, which is reasonable for a large tract of residential land in a suburb 30 to 40km outside Kuala Lumpur city.

We are positive on the acquisition. The land will be developed into a self-contained township named M Residence @ Rawang, offering entry level homes priced from RM390,000, townhouses, semi-dees, 3-storey shops and other amenities. Gross development value (GDV) is estimated at RM948 million, with a development period of three to four years.
The pricing is in line with the property prices in nearby areas — RM430,000 for a 20’ x 75’, built-up of 1,800 sq ft terrace in Emerald West against RM390,000+ for 22’ x 70’, built-up of 2,000 sq ft in M Residence. We believe the key selling points for the township will be:

(i) the Jusco Shopping Centre, which is just 5km away and expected to be completed by end-2011; and
(ii) good accessibility via the North South Highway and KL-Kuala Selangor Expressway.

M Residence will be able to capture the upgraders from Batu Arang, Kundang, Kuang and Sungai Buloh. The project is expected to be launched in 1H12, as soon as the transaction is completed in 1Q12.

As at Sept 15, Mah Sing has secured RM1.74 billion worth of property sales, on track to meet its full-year sales target of more than RM2 billion. The bulk of the sales is contributed by high-end projects launched previously.

While Mah Sing is now switching to the affordable segment, the remaining outstanding projects such as Icon City PJ (GDV RM3.2 billion), Icon Residence Mont’Kiara, M-City and M-Sentral are likely to experience some overhang in view of slower economic growth next year. The risks are:

(i) rising building material costs;
(ii) competition from peers; and
(iii) country risks.

Earnings from M Residence are expected to kick in only from FY13, raising our earnings estimate by 4.8%. After imputing the incremental net present value into our realisable net asset value estimate, our fair value is raised to RM1.55 (from RM1.47), based on an unchanged 35% discount to RNAV.

While the switch to affordable housing is welcome, we believe the volatile downtrend in the equity market does not support a high-beta cyclical property play. We therefore maintain an “underperform” call on Mah Sing. — RHB Research, Oct 6

http://www.theedgeproperty.com/research/84...le-housing.html

Yea agree.

Why not buy emerald west, isn't it nearer and better play?

it's G&G, with jogging track... jebatt

in terms of education for children, it's a headache...

my friend who were staying in bdr country homes complained that she had no choice but to go the only school offering STPM = notorious Sri Garing.

student in notorious school tend to learn about the real world sooner..haha
Are you sure DSL come with G&G?

maybe you are right.

yes. confirm.

also, lakeside living+resident clubhouse... so tempting....but not the school there, traffic conditions, security is bad (in bdr country homes from what i heard from my fren, her old dog died coz of poison given by the thief ) travel time to office, biggest shopping mall = billion if im not wrong n need to travel quite far (luckily Mah Sing offers retail shops for this project)...

If G&G is different, no G&G not sure how viable

If got budget, can wait for BRDB's project in Rawang, near to Jusco Rawang.

Found this map done by a fellow forum member

Tell me what you guys think


Attached thumbnail(s)

how much is bandaraya project?

+1

maybe SL - RM800K

This post has been edited by kh8668: Nov 9 2011, 03:42 PM

Hi ! anyone receive email for AN EXCLUSIVE INVITATION TO M RESIDENCE PROJECT PREVIEW on this coming Friday 10am until 5pm ? any comment ?

I find it a bit expensive for the link hse but the place is only 5mins to Jusco @ Emerald West. The place is right next to the junction to Bandar Tasik Puteri.
Between this place to Jusco, there are still plenty of empty land. The very downside I see will the size of this poject. Its only a 4 yrs project which seems small. Worry this will be the only project smack in the middle of nowhere.

Actually I visited the sales gallery yesterday. The sales person told me soft launch will be held on 16,17 & 18th dec. You can book your unit during tat time.
Phase 1 consist of 18x70 link hse (too small) and 22x80 superlink. Link hse price start from RM349k and RM499k for superlink (too expensive). There is only 2 rows of superlink in Phase 1. Phase 2, 3 & 4 only has superlink, town hse and semi-d. Future development all semi-d.

Maintenace fee / mth @ RM120. Its G&G with resident club hse (swimming pool & gym)

Where is the sales gallery?