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MITRAJAYA TP DEVELOP LANDBANK
some of it here:-

SITTING on land worth over RM600mil, Mitrajaya Holdings Bhd’s market capitalisation appears small at slightly over RM300mil. But that is the problem that almost all companies with property held for development face – the market does not attach a premium for property that has yet to be developed. In the case of Mitrajaya, it also has RM1.2bil worth of construction contracts to date and the company plans to more than double the order book this year. As for its property division, Mitrajaya plans to launch projects amounting to RM2bil in gross development value (GDV) to realise its value. A big chunk of Mitrajaya’s fortune lies in its landbank, which is worth about RM620mil and booked at only RM160.55mil in the books. Speaking to StarBizWeek in an interview, managing director Tan Eng Piow says it will make strategic moves in unlocking the value of its land. Taking its 3.76ha at Seksyen 28, Petaling Jaya as an example, the plot sits along Federal Highway but as the development along the stretch has not matured yet, Tan prefers to keep it until the time is right.“Otherwise, we will not be able to realise the best value out of it,” he quips.
Another parcel that it holds for a long time is the commercial land in Puchong Prima, which is ripe to be reaped. Surrounded by commercial shops, Tan sees an opportunity for a different product that is more in demand now - mixed development. It plans to launch the RM1.5bil project next year. “Timing is right as the parcel will be served by the extension of the LRT Ampang Line in the future,” he says. The upcoming project sits on a 6.07ha parcel, which is the last piece of land available in the enlarged 101.17ha-integrated township development in Puchong Prima. The proposed mixed development project will consist of a five-storey shopping mall, one budget hotel and three blocks of serviced apartments with a net sellable area of one million sq ft. “We will build a link bridge to the LRT Station and will work with an international architect for this particular project,” he says.

the location is the GREEN CIRCLE IN THE PIC


WAH NOW GOT ALMOST 3 MALL close to each other HILTON+MCITY MALL , THE WHARF MALL, AND NOW THIS????    , ANYWAY   

I did research in this property before but in the end i choose to get away, because:

1) for a walk up apartment  ,400k is really expensive
400k but the oncoming development is much more expensive plus mostly leasehold

2) wont be good for rental, as it is walk up apartment, people rather choose for condo
[COLOR=red]So far as for Desa Impiana & Desa Idaman rental may fetch to 1.5k-1.7k. I think among the nest rental value in puchong prima

3) the maintenance fees will getting more n more exp, due to the little sunway lagoon.
I get to know maintenance fee for desa idaman is RM205, if not mistaken desa impiana are about the same.

4) near by the school, very noisy and jam
For this there is a pro and con. School could be a value added to the property as couple who newly wed or family will willing to fork out more for the convenient to them. As for traffic jam, I would say, which place is not jam nowadays.. even ulu place also start to jam. Coz every year car is getting more on road. Unavoidable issue.

5) near by desa impiana n new development, too many competitor
For my point of view, I shall not see it as a competitor but rather and opportunity. As because of so many new development of residential and malls. This buyer is will definitely not from Puchong Prima. That mean, a new tenant from different area will start to moved in. Cum the development of the malls and train. Puchong prima I believe will be the centre of Puchong. As the commercial building and shopping mall all located in here. Price will definitely go up but in 3-4 years times, the price will shoot up even faster. old tenant will start to sell of the property and moved out and new tenant will moved in. That the cycle of development. Just like bangsar, sentul and etc as example.

6) you can only aim for family type tenant with kid, because the selling point of this property is little sunway lagoon. While 80% of the potential tenant is student n fresh worker, this is not attractive enough.
This is exactly why I look at it as potential. Family, Student and fresh worker. This is where the potential ppl who u which to rent out or stay around. That make the property good price. As the tenant is not some complicated tenant which many case the property price not moving up.

I'm feeling good for the Puchong Prima future development. Either buy now or never.


You have a better choice in puchong prima.

Current selling 410k. bank value 430k and market value I think 450k more or less. I understand the new development is always an advantage in term of value compare to desa idaman which is coming to 5 years. But I have a little concern as all the new development is leasehold. Therefore i was thinking desa idaman is a freehold strata. In long run, with the freehold title is always much valuable then leasehold. Just personal opinion. I did check the management of the desa idaman, there really maintain it really well as it doesn't look like 5 years old already. There's where I stuck in between the new property or the sub sales one. More feedback please~

Source:    http://www.benoy.com/press/benoy-strengthe...esence-malaysia         

the propose mixed development in puchong prima

flood potential?. Last time i went through the road at south area of lake. Some road covered with water but not so serious. Only 1 feet

KL also consider as flood area nowadays.
But agreed with you, can consider as flood potential as the development in puchong prima quite fast, so somebody must take a good care for the infa at puchong prima.  
But my view remind the same, puchong prima definite will be the next booming area in puchong and very soon!  

For me i will suggest you to buy for desa impiana compare with desa idaman even this 2 property are under same developer.
Reason :
1. Density - Desa impiana - very low density per floor ( 6 units per floor only )@ desa idaman not.
2. Easy -  Desa impiana - Got lift @ desa idaman - walk up
3. Facility - Desa impiana - Club house with quite alot of facility @ desa idaman - got, but less.
4. Secutiy - I think both security and maintenance done the good job.

This is my person of view .hope can help you.

talking about access to this area... there is another access that was inplan and supposed to connect puchong permata to ldp at puchong barat toll... just like the majujaya interchange that is taking shape nw  ..... tis access also must be built... i think whn hua yang start their project at the land beside puchong barat toll... sure this access will be built... i only hope all infrastructure are built as per planned and materialize.....

not sure how the access will be built but shud be sthg as per attached....

developer should be a shopping mall at puchong prima. Haha then it will be another anchor town.

Both Desa Impiana and Idaman are both great properties. They have appreciated a lot these few years and I am glad to own both of them.

A shopping mall at Puchong Prima is a great news to me.

Being relatively late to mall game compared to nearby malls like the wharf, m-city, (Aurora mall?) etc, it may impose a challenge to puchong prima mall operator. Can take a look at the spending power of surrounding people as reference. What type of market will this newbie mall can target.

But one thing for sure, walking distance to the LRT station is a plus(if roofed even better). I would like to see this mall doing well too.

lotus apartment consider good or not?..thinking to buy a unit there

i just secured one unit this evening at lotus apartment   ...

Both Desa Impiana and Idaman are both great properties. They have appreciated a lot these few years and I am glad to own both of them.

lotus apartment consider good or not?..thinking to buy a unit there

So what is rental rate u get back ?

Rental yield for Impiana is 10% and Idaman is 6.5%. But of course to get this kind of yield, you need to purchase them 5 years ago.