/// West Malaysia Property News
WEST MALAYSIA
PROPERTY NEWS
Sharing news and information about various issues
related to the property industry from Peninsular Malaysia.
SDB, Mah Sing Keen on Sungai Buloh
SOVO units and
serviced apartments.
But on the basis of size,
the 6.55-acre D’Sara
Sentral is larger than
the 4.8-acre SqWhere.
SDB at a roadshow event
Sg Buloh’s property market has
attracted the likes of Mah Sing
Group and Selangor Dredging Bhd
(SDB) thanks to its upcoming MRT
line and the Employees Provident
Fund’s plan to develop over 2,330
acres of former Rubber Research
Institute (RRI) land.
In fact, Mah Sing has recently
unveiled the D’Sara Sentral, a mixed
commercial project with a gross
development value (GDV) of about
RM900 million, while SDB launched
a RM630 million mixed commercial
development known as SqWhere.
In terms of similarities, both projects
are located near the upcoming Kg
Baru Sungai Buloh MRT station,
which is presently being constructed
on Jalan Welfare’s opposite sides.
They also offer similar components
such as retail shops, small offices,
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In terms of prices,
retail units at SqWhere
were sold at RM825
psf, while that in D’Sara
Sentral were purchased
at RM950 psf. The
former’s SOVO units
cost RM750 psf, while Mah Sing’s is
cheaper at RM650 psf.
“Buyers are paying PJ prices for a
Sg Buloh location. It shows they are
confident in the branding and the
reputation of the company when
they pay that kind of prices to buy
into that location,” said Kim Realty
CEO Vincent Ng, adding the both
projects are leasehold.
“It also shows that they are still
very positive about the property
sector and are attracted by all that
talk about the Sg Buloh growth
potential,” he noted.
Meanwhile, the RRI land is expected
to 10 to 20 years to develop, but
EPF’s subsidiary Kwasa Land is
currently holding the tender process
for its 64-acre town centre.
Mah Sing Acquires Shah Alam Site for
RM327 Million
detached, linked semi-detached,
super link, bungalow and serviced
apartments.
Mah Sing’s group managing
director cum group CEO Tan Sri
Leong Hoy Kum
Mah Sing Group has acquired an
85.43acre site from Great Doctrine
(M) Sdn Bhd for RM327 million.
Offered on a 99-year lease, the
property is located in the Sultan
Salahuddin Abdul Aziz Shah golf
course in Shah Alam and was sold
for RM88 psf.
According to Starproperty, Mah
Sing plans to turn the land
into an eco-themed residential
development, with a gross
development value of RM2.5 billion.
Set to be launched in 2016, the
development will feature a mix
of both landed and high-rise
residences, including semi-
“The land is situated in the most
matured part of Shah Alam, and
the location is commonly known
as the Damansara Heights of
Shah Alam. This is undulating golf
course land, and we will create a
hybrid of our high-end Lagenda
and medium high-end Residence
series of properties,” said its group
managing director cum group CEO
Tan Sri Leong Hoy Kum.
Leong noted that the price agreed
upon was a fair value given the
favourable payment terms.
Notably, 10 percent of the total
consideration was paid by Mah
Sing upon the signing of the sale
and purchase agreement on
Wednesday.
The rest will be paid in one bullet
payment either 30 months from
the agreement date or six months
from fulfilment of conditions
precedent, whichever is later.
An automatic extension of two
months will also be granted by the
vendor.