SHAH ALAM (Sept 14): Magna Prima Bhd has launched a RM271 million condominium development dubbed The View Residences in Sultan Abdul Aziz Shah Golf Club, Shah Alam.

Sitting on a 5.25-acre leasehold site, The View Residences is the only residential condominium in the golf course and the first project by the developer this year. It is targeted for completion in 2021.

The development comprises three 15-storey towers that house 315 condos and five retail shops located at the ground level.

With built-ups from 980 sq ft to 1281 sq ft, the 3-bedroom-and-2-bathroom condo units will be priced between RM730,800 and RM1.18 million, while the retail shops, which will be launched at a later stage, will have a price tag of about RM800,000.

All the condo units across the three towers will be able to enjoy the amazing golf course view, which is one of the features that make The View Residences unique, Magna Prima group managing director Datuk Wira Rahadian Mahmud said at the official launch today.

“This is a very private area and there are not many developments here. In addition, the [landed] houses here go for RM5 million to RM6 million per unit, but our apartments are more affordable as each unit is only about RM1 million,” he said.

“The very unique feature of this project is the view, which is why it is called The View Residences. You probably can’t find any similar projects within the Klang Valley," added executive director Ho Wen Yan, who is also the CEO of Hua Yang Bhd, Magna Prima’s largest shareholder.

Rahadian said the project is aimed at buyers from the Shah Alam area, which includes bumiputeras, pensioners, golf club members and people who enjoy living in a quiet environment.

He pointed out that the project has a 5,000 sq ft majestic surau to cater to bumiputera buyers.

Other facilities in the development include a swimming pool, multi-purpose court, gym, reading room, laundry, children’s playground and landscape greenery.

Magna Prima will bear expenses relating to the sale and purchase agreement, loan legal agreement, disbursement fee and loan stamping duty, as well as include kitchen fixtures and fittings with electrical appliances with the units.

Meanwhile, when asked if affordable housing will become Magna Prima’s focus after Hua Yang’s investment in the company, Rahadian said the company will remain focused on its current market segments.

“We will still maintain middle, middle-high and high-end. We are not going to really do the lower-end [products] because our sales from the middle-end [products] have always been good even during this kind of time, so I still prefer the higher margin business,” he said.

Currently, Magna Prima’s landbank is over 30 acres in prime areas, such as Jalan Ampang, Jalan Gasing and Shah Alam, with an estimated gross development value of over RM5 billion.

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