This article first appeared in City & Country, The Edge Malaysia Weekly on February 22, 2021 - February 28, 2021

Oriental Interest Bhd (OIB) plans to launch Phase 3 — the last phase of terraced homes — of Myra Alam in Puncak Alam, Selangor, in March.

According to head of marketing and branding Ken Goh, buyers’ lifestyles and preferences change overtime, so the concept for these homes is based on individuality, whereby the developer will provide customisable layouts to suit the current trend.

“These homes will have larger built-ups than in previous phases. They will come with a bedroom on the ground floor that can be converted into a home office, study, or media or theatre room,” he says.

Occupying a four-acre leasehold parcel, Phase 3 has a gross development value (GDV) of RM44.1 million and will comprise 65 two-storey terraced homes. Due for completion in 2023, the 4-bedroom and 3-bathroom units will measure 20ft by 70ft or 22ft by 70ft, with built-ups of 2,002 to 2,396 sq ft. Prices start from RM554,000.

Phases 1 and 2, comprising a total of 158 two-storey terraced homes, have been fully taken up since their launch in end-2018 and March 2020 respectively. Due to the good response to both phases, the developer is confident that Phase 3 will be well received and is hoping to sell all of the units by the middle or end of this year.

“Despite the current challenging market conditions, we believe landed homes in the affordable price range and that are located strategically with good accessibility will remain in high demand,” says Wendy Lim, general manager for sales, marketing and business development at OIB.

Lim says these units are targeted mainly at owner-occupiers, including young and multigenerational families, as well as upgraders. “We have noticed that a township or community with owner-occupiers tends to appreciate more than those with investor-owners in times like these. When there is less demand in the rental market, these projects will suffer.”

Homes in Phase 3 will sit in the middle of Myra Alam, which is the green lung. Goh explains that the frontage of these houses does not face other houses, so residents will be greeted by a lot of landscaping and greenery at the entry point. There will also be ample space for them to host functions or events in front of their houses in the future.

The facilities at Myra Alam include two central playgrounds equipped with two pavilions, a jogging path, multipurpose court and jungle gymnasium. The maintenance fee is estimated to be RM150 to RM200 per month.

Goh notes that it is hard to forecast when the houses in Phase 3 will appreciate due to the current market conditions. “On the positive side, the property market has seen a bit of a revival and should recover in the next two to three years. When this happens, our homes at Myra Alam should enjoy capital growth.

“We want to bring value to buyers and satisfy them. We do not just build and sell homes; we want to develop townships or projects that will thrive. For Myra Alam, we will do the same and we want the homes and amenities to not just look good but also be practical from a maintenance and usage point of view.”

Meanwhile, the developer wishes to educate buyers and expand their knowledge of owning a home throughout the entire process of homeownership. With this in mind, it recently introduced a home booking web application — Myra Homebuying Hub — which makes the homebuying process easier for first-time homebuyers. 

Purchasers can easily upload their documents into a personal folder on their profile via the app. Assistance will be provided so that all the required documents are submitted. The app also serves as a portal to update purchasers on their booking.

“We believe smarter and better educated buyers will result in better performing and more successful homes or townships. Whether it is on homeownership education or financial advice along the way, we want to be part of their home-buying journey,” says Goh.

Launched in 2018, the 35.5-acre gated-and-guarded Myra Alam has a GDV of RM312.9 million and comprises 224 terraced houses, 356 condominium units as well as 394 units of Rumah SelangorKu (RSKU) apartments. The township is currently 60% developed and is expected to be completed by 2025.

“We are planning to launch the condominium units later this year, depending on market conditions. A unique selling point of this project is that residents will be able to park their cars on the same level as their units. Other information has yet to be firmed up,” says Lim.

Myra Alam is accessible via Jalan Bukit Cerakah, Jalan Persiaran Puncak Alam 6, the Shah Alam-Batu Arang Highway, Kuala Lumpur-Kuala Selangor Expressway and Guthrie Corridor Expressway. It will also be accessible via the Damansara-Shah Alam Elevated Expressway and West Coast Expressway after they have been completed.

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