Thursday 28 Mar 2024
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This article first appeared in City & Country, The Edge Malaysia Weekly on November 11, 2019 - November 17, 2019

Winner | Bandar Sri Sendayan | Matrix Concepts Holdings Bhd

Matrix Concepts Holdings Bhd transformed 6,000 acres of former Felda land into the vibrant township of Bandar Sri Sendayan in Negeri Sembilan. The flagship development has bagged The Edge Malaysia Property Development Excellence Award 2019, which recognises large-scale developments that have had a significant impact on an area as catalysts of growth.

Bandar Sri Sendayan, which has an estimated gross development value of RM8.13 billion, was launched by Matrix Concepts in 2004 in a joint venture with Negeri Sembilan’s Mentri Besar

Incorporated (MBI).

The township, which has a population of 40,000, has residential, commercial, institutional, high-tech industrial, agricultural and leisure components, with plans for malls, offices and a hospital in the future.

But it had to overcome several challenges. Matrix Concepts’ group managing director Ho Kong Soon says the main obstacle was the perception that it was too far away and very rural. But the developer saw the opportunity to create something new and different on the large tract of land.

“Our township planning has always been about sustainability,” Ho explains. Apart from residential units, it should also be a place with ample job opportunities, he adds. That is where the 1,000-acre Sendayan TechValley came in at the start. The developer wanted to create an industrial park that would attract international multinationals so it knew it had to lay the right foundations.

“Without proper infrastructure, we cannot entice first-class multinational companies to set up base. About 80% of our investors are multinationals from around the world. Japan is the biggest player here, and there are those from Germany, France, the UK, Yemen, South Korea, China and many more. We have been able to pull in RM4.5 billion of foreign direct investment over the last six to seven years,” says Ho.

Thanks to work to upgrade the infrastructure and improve connectivity via the North-South Expressway, the public’s perception of the township is slowly changing. It is no longer considered far as for most of us, a 30-minute or an hour’s commute is the norm.

As the population grew, demand for residential properties increased. To date, Matrix Concepts has completed 8,816 residential units. In each residential precinct, 10% of the land is set aside for green spaces, with playgrounds, walkways, jogging paths, gazebos, reflexology paths and amphitheatres. There are also fitness stations and facilities for futsal, badminton and basketball.

The value of the properties has risen in tandem with the demand.

“Our first residential project was affordable single-storey houses. We sold them for RM80,000 in 2008. The value of these houses today is about RM280,000. Why is this possible? It is because we are constantly enhancing the township’s facilities — things that need improvement, we improve,” Ho says.

He reveals that new products are constantly being launched. For example, this month  will see the launch of Melia II — 2-storey terraced houses in Hijayu Aman precinct. A total of 109 units — measuring 20ft by 75ft units with a built-up of 2,350 sq ft and a selling price from RM623,888 — will be available.

Another launch this month will be Ervina — 2-storey semi-detached houses in the Ara Sendayan 2B precinct. Measuring 45ft by 85ft with a built-up of 2,960 sq ft, the 46 units to be offered will have a selling price from RM1.47 million.

For families with schoolgoing children, the township is home to one of the country’s largest private schools with campus facilities — Matrix Global Schools. The school, which has boarding facilities and can take in 2,500 students, now has an enrolment of 800. It follows the local syllabus and offers IGCSE and, in the future, A-levels.

Other schools in the township include SMK Bandar Sri Sendayan, SK Bandar Sri Sendaya, SJK (T) Bandar Sri Sendayan and SJK (C) Bandar Sri Sendayan.

 

Community spaces

For residents who need a place to host events or hold community activities, the developer has built a clubhouse that measures 380,000 sq ft called d’Tempat Country Club. Ho says it is a place for people to unwind or to conduct business. The facilities include a banquet hall that can accommodate 800 guests, an Olympic-size swimming pool, indoor tennis courts, meeting rooms, spa and F&B outlets.

Entertainment can also be found in the commercial components of the township. Sendayan Merchant Square is a lifestyle hub with retail outlets and restaurants while Sendayan MetroPark will have retail and wholesale businesses. There will also be Sendayan City in the future.

“Sendayan City is a 116-acre commercial precinct that will be the flagship component within Bandar Sri Sendayan where the community congregate for a variety of F&B, family entertainment and retail options. There will also be businesses that offer employment opportunities, financial services and healthcare and wellness,” says Ho.

“We have a site, about 15 acres, for a medical centre. We are now exploring working with a strategic partner. We have to be careful in our approach to this medical centre so the financial viability and sustainability are well addressed. We would rather take our time than to rush it.”

Space has also been allocated in the township for religious purposes, such as for mosques and an Indian temple. Land has been allocated as well for a Sikh temple, church and a Buddhist association.

“Apart from business, leisure, job opportunities, and commercial and lifestyle activities, we don’t forget about people’s spiritual fulfilment. We try to satisfy the needs of the community,” says Ho.

 

Outdoor activities

Meanwhile, the 26-acre Sendayan Green Park is designed to promote outdoor activities and community interaction. Ho believes outdoor activities help foster better understanding and bonding among residents.

Those into more challenging activities can head for the 30-acre Sendayan X Park. Among the facilities are a driving range, futsal courts, badminton courts, electric go-karts and an ATV/BMX track. There is an Adventure Tower for wall climbing or to take the flying fox as well as a skate park and a paintball field.

A neighbourhood community mall is in the planning stages and talks are being held with potential anchor tenants. Construction is scheduled for the second half of 2020 if all goes well.

 

Soft market

Despite all that the township has going for it, no development is immune to the soft market conditions. Ho sees it as part and parcel of the property industry.

“We are always vigilant in our strategies and position ourselves to weather any storm, be sensitive to market demands and explore new markets,” he says.

“In spite of the current dampened economy and possible government measures to curb property speculation, we remain positive about our prospects as our residential properties are mainly sought after by owner-occupiers and, therefore, are not subject to speculative activities.”

Ho sees strong demand for landed property below RM600,000 in Bandar Sri Sendayan and believes this will hold the company in good stead.

“Regardless of market conditions, our products in Bandar Sri Sendayan are still seeing good response. In the last few years, the property market has been on a downwards trend amid poor market sentiment. However, traction in Bandar Sri Sendayan has not lessened and is still strong, although some products have had to be repositioned.”

Ho adds that the repositioning is necessary to align with market trends, such as changing plans from building semi-detached houses and bungalows to terraced houses instead.

The ability to turn things around quickly is owing to the developer’s strong team

“From project development and conception to my marketing and support department, we have formed a strong team that is highly skilled and highly competent. There is teamwork in the company and all issues are solved very efficiently and properly. Our ‘software’ is our biggest achievement and without it, we cannot produce our ‘hardware’,” says Ho with a smile.

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