MKH eyes RM300m project in Semenyih

KUALA LUMPUR: MKH Bhd is planning a mixed property development worth RM300 million in gross development value (GDV) on its newly acquired 64-acre (25.6ha) freehold land in Semenyih, Selangor.

In a filing with Bursa Malaysia, the group said its subsidiary Kajang Resources Corp Sdn Bhd (KRCSB) yesterday, through its agent Petik Mekar Sdn Bhd, completed the purchase of the agricultural land for RM50.66 million or over RM18 per sq ft.

“The new mixed development project is estimated to have a total GDV of approximately RM300 million over a period of about four years,” it said.  

MKH said the land has potential for development with a strategic location in Bandar Teknologi Kajang — only 8km away from Kajang city centre — and easily accessible from the city centre via Jalan Sungai Kantan, the Pintasan Kajang-Semenyih bypass, Lekas Highway and exit into the Kajang South interchange.

Immediately surrounding the land are other land parcels and residential projects currently being developed by the MKH group of companies.

They are Hillpark Homes comprising double-storey terraced houses and semi-detached houses, and Kajang 2, a mixed development township consisting of commercial and shopping centres, a new KTM station, international and private schools, and residential properties such as double-storey terraced houses, semi-detached houses, bungalows and high-rise serviced apartments.

MKH said its board of directors sees no risks arising from the acquisition other than the normal and global market risks as well as inherent risks in the property development industry.  

MKH, formerly known as Metro Kajang Holdings Bhd, has established a reputation in property development since 1979.

The group’s projects range from residential townships to commercial mixed developments in the Klang Valley and suburban areas in Selangor, catering for different market segments.

To date, more than 25,000 mixed development units with a value exceeding RM4 billion have been developed by the company.

Other than its core business in property development, MKH is also involved in oil palm plantation, project management, property investment, trading and furniture manufacturing for maximum synergy and cost efficiency.

This article first appeared in The Edge Financial Daily, on October 18, 2013.