MB Builders aims to be No 1 developer in Johor

PETALING JAYA: Johor-based property developer MB Builders Sdn Bhd aims to launch projects worth RM2.5 billion in the southern state this year.

Incorporated in 2009 and an associate company of Mahabuilders Bhd, a well-known “white knight” developer of abandoned projects in Johor, MB Builders has a landbank of just over 917 acres (371.9ha), primarily in Johor.

“MB Builders wants to be the No 1 residential property developer in Johor this year, with projects worth a gross development value of RM2.5 billion,” marketing director Datuk Jacky Ker told The Edge Financial Daily. He added that the company is aiming to build 4,500 residential units this year.

Ker: MB Builders wants to
be the number one resi-
dential property developer
in Johor this year, with pro-
jects worth a gross deve-
lopment value of RM2.5

One of the company’s strengths is in creating wealth for its customers. “The average appreciation rate for MB Builders’ products have been between 30% and 40%,” Ker added.

MB Builders’ recent projects have been well-received including the Pandan Residence  serviced apartments, Nusa Heights shop offices, and Desaru Villas in Taman Desaru Utama, which comprised bungalows, single- and double-storey semi-detached homes.

Upcoming residential projects to be launched at end-April are Tri Tower Residences, M Condominium and Taman Desaru Utama’s Marinea terraced-houses.

Tri Tower Residence comprises two 55-storey serviced apartment towers linked by a skybridge and a 52-storey hotel situated in Johor Baru Sentral with a GDV of RM450 million.

The project will feature 360 apartment units and 360 hotel rooms. The hotel will be called Capri by Fraser and managed by Fraser Hospitality.

The apartment built-ups are from 696 to 2,719 sq ft with selling prices from RM800 psf.

Also to be launched at end-April is the four-tower M Condominium. “This is a long awaited condominium project in Johor Baru as there aren’t many [similar developments] around,” said Ker.

Situated in Larkin, the RM450 million development will have 944 units with built-ups of 1,068 sq ft or 1,100 sq ft.

For its 905-acre Taman Desaru Utama township, it will be launching 2-storey terraced houses called Marinae.

There will be 239 Marinea homes with lot sizes of 22ft by 70ft and built-ups of 1,798 sq ft (Type A) or 2,000 sq ft (Type B). The selling price is from RM400,000.

Tri Tower Residence comprises two 55-storey serviced
apartment towers linked by a skybridge and a 52-
storey hotel situated in Johor Baru Sentral.

Ker said the Petronas Refinery and Petrochemical Integrated Development (Rapid) is only 20 minutes away from Taman Desaru Utama and the township will benefit from the estimated over 50,000 oil and gas workers moving into the area.

On its hospitality business, MB Builders currently runs the 263-room Amansari Hotel City Centre operating since June and the 144-room Amansari Express Hotel since October. The average room rate is RM110 per night.

In the pipeline are two more hotels, Amansari Hotel Nusajaya and Amansari Hotel Desaru, which will start operations this and next year respectively.

MB Builders is also planning the development of two malls called MB City Mall (formerly Pacific Mall) and Desaru Mall with a net lettable retail area of 370,080 sq ft and 150,695 sq ft respectively.

This article first appeared in The Edge Financial Daily, on March 1, 2013.

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