Mah Sing takes another step forward

To sell bungalows with a price tag of more than RM3 million in Cheras is certainly a daunting task for most developers, given the area’s predominantly working-class profile. However, this has not deterred Mah Sing Group Bhd from tackling the challenge head-on.

The developer will be launching One Legenda in Cheras by 1Q2010 upon the completion of its show units. The second in its Legenda series of high-end homes, One Legenda offers 3-storey bungalows, with an average indicative price of RM3 million. It features bungalows with clubhouse facilities — each unit will have an individual swimming pool, gym, Jacuzzi, sauna and even a private lift, says Mah Sing Properties Sdn Bhd’s deputy chief operating officer Teh Heng Chong.

He adds that the good response to Hijauan Residences (Phase One), its first project in Cheras, had encouraged the group to undertake its second development in the same area.

“Cheras is not [an exclusive enclave like] Bangsar or Petaling Jaya, so it is not common to sell a property costing RM3 million, because bungalows in Cheras normally sell at RM2 million to RM2.5 million. So, the product has to be different. The population in Cheras is mainly Chinese, and what they want is something practical such as big built-ups. The homes must have all the facilities, including extra empty space,” Teh tells City & Country.

Mah Sing introduced Damansara Legenda — the first in the Legenda series — in 2005, with prices starting from RM1.5 million. The freehold project, completed in 2006, comprised 119 semidees, bungalows and garden bungalows on 17.44 acres of land adjacent to the Tropicana Golf & Country Resort in Petaling Jaya. The high-end homes can now fetch RM1.8 million to RM2 million on the secondary market, according to the developer.

‘Generational’ home
Located near Hijauan Residences, the One Legenda project will be built on a 9.9-acre site. The freehold development will have 26 bungalows in three designs — A, B and C. The built-ups are from 5,392 to 6,519 sq ft on a land area of more than 8,000 sq ft, with prices ranging from RM2.8 million to RM3.5 million. Type A homes come with double-volume living area, with their distinctive 2-storey high ceiling.

The developer wants to promote the RM76 million development, which sits next to the 130-million-year-old Hulu Langat Forest Reserve, as a place for healthy lifestyle living. Each unit will have a gym, swimming pool and a garden. There is also a 1.5-acre green lung within the development.

The spacious bungalows will appeal to those with extended families. “Each bungalow lot is big enough for three generations, and every home is equipped with a private lift. If the buyers don’t want the gym, they can convert it into a study. We also have an eco-garden, a main plaza, pool tables, a fitness garden, a loft garden and an ariel garden within the development,” says Teh.
The project is scheduled to be completed in three years.

“Potential buyers won’t appreciate the product if you just show them the brochures. They have to feel the site and see what kind of lifestyle and features we are offering. Recommendations by word of mouth also help. We have built up our reputation in Cheras after selling the Hijauan Residences. And recommendations from this group of buyers are important,” he says.

Teh adds that road upgrading in the area will be carried out in stages and it is expected to be completed within two to three years.

Mah Sing acquired the One Legenda site in March 2006 for RM11 million, and subsequently the Hijauan Residences site, 1km away, in October the same year. The developer, however, withheld developing One Legenda as it decided to develop Hijauan Residences first to establish its name and add value to One Legenda.

“We launched our garden bungalows in Hijauan Residences Phase 2 from RM1.5 million to RM1.6 million in April. Currently, the take-up rate is 50% and it is encouraging. We have done our market survey and we know people can afford them. Also, it is difficult to find bungalows of 6,000 sq ft in Cheras, so One Legenda can cater for those who are looking for bigger homes,” he adds.

Hijauan Residences
Hijauan Residences is a 42-acre project to be developed over three phases. Completed in June 2009, Phase One — with 122 semidees and linked-semidees — has been fully sold. Phase Two, consisting of 30 garden bungalows, has been open for sale since April and is 50% sold. The developer is targeting to sell all the bungalows by this year-end.

“The clubhouse in Hijauan Residences will be completed in March next year. We found that some buyers from Phase One sold their units at 25% to 30% appreciation. We are going to launch Phase Three by 1Q2010 when the show units are completed,” says Teh. The houses will be built on elevated land facing the forest reserve.

“Phase Three, comprising 78 garden villas, will be different. It will have numerous glass windows for a better view of the surroundings,” he adds.

Teh says with Hijauan Residences, Mah Sing is selling the view, while One Legenda is more for buyers who value practical usage.
The 4-storey garden villas have built-ups of about 6,700 sq ft, with an indicative selling price of RM2.5 million.

New ventures
The third development under the Legenda series will be the RM30 million Legenda@Southbay in Penang. The project will have 76 bungalows with built-ups from 6,045 sq ft on a land area of more than 7,600 sq ft, with an indicative selling price of RM3.4 million.

The RM1.35 billion Southbay development, located 2.5km from Bayan Lepas town in Penang Island, will feature three components — Southbay City, Legenda@Southbay and Residence@Southbay — offering retail outlets, fine-dining restaurants, serviced suites, hotels, bungalows and superlink homes. It launched 200 of the 284 superlink units in Residence@Southbay last May, and they are almost fully sold.

The developer also announced last month a medium to high-end residential development in Cyberjaya — the Garden Residences. The RM690 million self-contained mini-township comprises 2 to 3-storey superlink homes with built-ups from 2,800 sq ft and indicative selling prices from RM668,800; 2 to 3-storey semidees with built-ups from 3,000 sq ft (from RM798,800) as well as 2 to 3-storey bungalows with built-ups from 3,700 sq ft (RM1.42 million).

With the project in Cyberjaya and two projects in Cheras, Mah Sing is expected to see at least three new launches in 1Q2010. Teh also reveals that Mah Sing is finalising some land deals in the Klang Valley, which are expected to be announced by November and will be added to the list of new launches. The developer currently has an undeveloped landbank of 666 acres in the Klang Valley, Kuala Lumpur, Johor Baru and Penang Island.

“We are buying more land to prepare for the future. We are looking for more land in Penang,” says Teh.



This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 774, Sep 28-Oct 4, 2009.