Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Saturday, January 12, 2008


With over three decades of experience and more than 15,000 units of property under its belt, Mahajaya Bhd prefers to let its projects do the talking

FOR the 30-over years Mahajaya Bhd has been in the real estate industry, the group has completed over 15,600 units of property in the Klang Valley and other locations.
However, despite its vast experience, the developer prefers to keep a low profile, revealed its sales and marketing general manager Jackie Tan (pix).

“We seldom appear in newspaper articles. Even in our advertisements, you may not realise it is us as we have many subsidiaries.

The group was formed in the 1970s by founder and senior adviser Datuk Tan Leong Min and in 2004, we listed on Bursa Malaysia,” Tan told Propertyplus.

The group’s two main businesses are construction and property, with the latter being its core business. It has more than 20 subsidiary companies, such as Spangate Sdn Bhd, Jiwa Property Sdn Bhd, Medan Damai Development Sdn Bhd, Pancar Vista Sdn Bhd and Jelebu Homestead Sdn Bhd.

Among some of the group’s completed projects are 3,448 units of apartments and condominiums in Desa Petaling, KL, 1,765 residential and commercial units in Taman Tan Sri Yaccob in Skudai, Johor, the 342 unit Aliran Damai Apartments in Cheras, and 910 units of shop apartments in Kota Laksamana, Malacca.

“We not only develop properties, but in our construction division we produce ready-mix cement, piles and bricks. We do most of our projects’ earthworks ourselves. The benefits of having everything in-house is that we are able gauge beforehand which materials are needed, saving time and enabling us to complete properties ahead of schedule,” said Tan, who has been with the
company for over 20 years.

Bandar Damai Perdana
Mahajaya’s current major developments are Bandar Damai Perdana in Cheras, Taman Alam Indah in Shah Alam, and Taman Damai Utama in Puchong.

Located in the southern suburbs of Kuala Lumpur, the 430-acre freehold Bandar Damai Perdana is being developed by Mahajaya’s wholly owned subsidiary Medan Damai Sdn Bhd.

Bandar Damai Perdana’s RM500 million first phase comprising over 3,000 units of properties was completed three years ago and the group is concentrating on the 110- acre second phase, which offers the development’s first high-end properties — the RM100 million Damai Gayana.

An artist's impression of the Damai Gayana development

Tan said that there were always plans for high-end properties.

However at that point in time when the first phase was launched in 1999, it was decided that midrange products would cater for more target groups. “Today, the market is looking for high-end, exclusive homes, especially within gated and guarded developments,” she added.

The 70-acre Damai Gayana will offer 220 units of semidees and bungalows. There are two phases of semidees with the first 24 units launched last December sold out.

The second batch of 18 units, which was launched less than three months ago has achieved a
take-up rate of 30%. The 2½-storey semidees have land areas of 40ft by 80ft and built-ups from 3,530 to 3,703 sq ft. Prices start from RM838,880.

Meanwhile, the 53 units of 2½- storey bungalows also launched last December have a take-up
rate of 40%. Land sizes for the bungalows are 60ft by 80ft and 60ft by 100ft with built-ups from 3,852 to 4,253 sq ft and are tagged from RM1.23 million.

Damai Gayana is situated on the highest peak of Bandar Damai Perdana and Tan is proud to say that they have saved the best location in the development for the project. “The semidees and bungalows are unique because they are 2½-storey. Buyers can opt to have half a storey on the ground or at the highest level. This provides with more functional space as it can be turned into a second living room where entertaining is done, a gym or even a theatre room,” Tan offered.

She said that although the project is not gated, security and privacy is ensured as it is on
higher ground than surrounding homes. “There is only one entry point and residents will have to
use a smart card to enter.”

Taman Damai Utama
U Centre Point, the first launch in Mahajaya’s RM800 million Taman Damai Utama in Kinrara, Puchong was unveiled last September. The project with 142 units of 2- and 3-storey shop offices has a take-up rate of 95%.

“In the pipeline in 2008 are the launches of another 32 units of 1-storey shop offices and,
this Saturday, over 600 units of 2– and 2½-storey link houses will be launched. The houses have built-ups of 2,000 sq ft and 2,625 sq ft respectively and start from RM338,990.The good take-up of the first launch was because of the ready catchment in the area. Being opposite Bandar Kinrara and near the Giant Hypermarket ensured demand for commercial units,”
she shared.

Tan added that the group is still acquiring more land for the 220-acre leasehold development.
Upon completion in six years, Taman Damai Utama will have over 3,800 units of commercial and residential property.

Another project, the 115-acre leasehold RM100 million Taman Alam Indah in Section 33, Shah
Alam, has a take-up rate of 97% for its 50 units of 2-storey link houses sold under the build-thensell concept. The homes with lot sizes of 20ft by 65ft are priced at RM200,000.

“We are waiting for the second phase of 378 units of 2-storey terraced homes, which are priced
from RM240,000, to be approved. The earthworks are complete and we hope to launch by the first quarter of 2008.”

The group has a total undeveloped landbank of over 1,600 acres in Cheras, Shah Alam, Johor, Perak and Negri Sembilan.

Project management
Tan said that apart from property development and construction, the group is also involved in project management.

“We not only develop properties for clients, but also the handle sales and marketing. We have
just completed a privatised project with City Hall for low-cost apartments in Kampung Malaysia.
We also do projects for Salak Park Development Sdn Bhd, which has a landbank of over 200 acres in Desa Petaling, KL.”

Going forward, Tan remains confident that the group will do well despite escalating buildingmaterial prices. “A lot of developers are worried and are waiting to see what 2008 will bring, but as far as Mahajaya is concerned, we can rely on our backup arm [construction division] to provide us with materials.”

By theSun (by Allison Lee)

No comments: