MAH SING Group Bhd is poised to become a major property player in the high-end niche market in the Klang Valley.

It has signalled its return to the Klang Valley after tasting success in its flagship Sri Pulai Perdana in Johor Baru by recently unveiling its high-end Damansara Legenda project. The KLSE second board-listed group is also building up its landbank for a main board promotion.

Chief executive officer Lim Ching Choy said the group would apply what it had learnt from Johor to the Klang Valley and provide an even better product.

He said the main focus would be in the Klang Valley where the group would be looking for very prime land of 10 to 30 acres each for niche developments and to buy land of 300 to 400 acres to do medium-sized townships, probably in Klang Valley South. It would be very choosy when sourcing for land, as its main criterion is good location.

Ultimately, Mah Sing desires to establish a name as a quality, lifestyle developer. ''We're not only building houses but we are providing a lifestyle development to our purchasers,'' he told StarBiz.

Its two projects in Johor Baru, the Sri Pulau Perdana and the Austin Perdana, are located in high-growth corridors. The Austin Perdana land that was bought at a Danaharta tender exercise recently would have, among others, serviced apartments and terraced houses. To-date, more than 70% of the serviced apartments had been booked, he said.

Lim said every phase of Austin Perdana would have a gated and guarded community and would have a lake park concept as compared to the European town park concept of Sri Pulai Perdana.

''In Austin Perdana, we will cater to those who are looking for a lifestyle with security features,'' he said, adding that the serviced apartments, terraced houses, semi-detached and linked bungalows would be launched between the first to second quarters of next year. The terraced houses would be priced from RM193,000 to RM230,000.

The 238-acre freehold Austin Perdana in Tebrau, with an estimated gross development value of more than RM430mil, would boast exclusive homes and apartments nestled amid an extensively landscaped lake park. The first phase will comprise Lake View Suites with 24-hour security, swimming pool, multi-purpose hall and gym.

The proposed township is strategically located, with the Kota Tinggi Highway and Pasir Gudang Highway being upgraded. It would have a new high-tech hospital and a college. The Fong Yew 5 Chinese primary school will be opening soon.

Sri Pulai Perdana, on the other hand, features an exotic Roman entrance courtyard and a 12-acre neo-classical Central Park, the first of its kind in Johor Baru. Among its products are the Perdana Fairways (126 units of bungalows and semi-detached houses priced from RM416,500), Perdana Terraces (garden park homes with semi-D style design and priced from RM178,000), Perdana Square (commercial land from an acre), two and three-storey shop offices (priced from RM289,000) and three-storey shop apartments.

Lim is proud of Sri Pulai Perdana as this is where Mah Sing has ''anchored and built its brand in Johor''. It has sold some 2,500 units and completed and delivered about 2,000 units since 2000. ''We have another 400 units of terraced houses to go. We're almost finishing this project,'' he said.

Despite facing stiff competition, Lim feels Mah Sing has ''won the race in that location''. ''We're very committed to landscaped planning,'' he said.

Lim said some Singaporeans had bought the higher priced units like corner units, semi-detached houses and bungalows. Some of these Singaporeans preferred to reside in Johor, he said.

On the Johor Baru property market, he said as long as one built affordable houses with a concept, there would always be buyers.

''We don't feel there's a glut in Johor. In Johor Baru you have to cater to a niche market. Austin Perdana caters for up-graders while Sri Pulai Perdana caters mainly for the affordable market. One has to read the market well. Most buyers these days look for quality and developer with a proven track record.'' he said.

Lim, who joined Mah Sing two years ago, was a banker for about 20 years, dealing mainly in property financing. He had also witnessed two recessions. ''As a group, we're quite fortunate as most of our projects were at the tail-end and we were in a position to consolidate well before the recession set in a very painful manner,'' he said.

Property development will remain as the group's core business, contributing 80% to 90% of turnover. Mah Sing is also into plastic manufacturing with two plants in Port Klang and Jakarta.

Source : The Star  29/12/2003