Residential phase in MCT’s Cybersouth open for sale

This article first appeared in City & Country, The Edge Malaysia Weekly, on June 1, 2020 - June 07, 2020.

Artist‘s impressions of the apartments (top) and townhouses (bottom)

Photo by MCT

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CasaBayu, a new residential phase in MCT Bhd’s Cybersouth township, will comprise 80 low-rise apartments and 180 townhouses. The apartments are officially open for sale.

The RM159 million CasaBayu will sit on a 13-acre leasehold parcel in the 416-acre township in Dengkil.

There will be five 4-storey apartment blocks and each floor will have four units. The built-ups range from 926 to 1,098 sq ft and prices start from RM429,800. “We have received quite a good response. Of the 80 units, 68 have been booked,” says sales and marketing director Chee Kok Keong.

Although not required for low-rise apartments, Chee says the developer has decided to install a lift for each block

Photo by Haris Hassan/The Edge

Although not required for low-rise apartments, Chee says the developer has decided to install a lift for each block. “This is for the convenience of the occupants as well as ensuring the product is sustainable in the long run. If this is just a walk-up [apartment] without a lift, there will be no value for the upper-floor units in a few years’ time,” he says.

The townhouses are open for registration of interest. Chee says the launch will be in October and the show unit is available for viewing. The built-ups will be between 1,238 and 1,862 sq ft.

Chee says there has been a breakthrough in the townhouse’s architecture. The design for an earlier phase was squarish, but for the units in CasaBayu, it is more modern with a pitched roof.

“The pitched roof allows purchasers of the upper units of end and corner lots to open up the ceiling to build a mezzanine floor. Unfortunately, due to their structure, intermediate units will not allow for this addition,” he adds.

All units will have three bedrooms, two bathrooms and two tandem car-parking spaces.

CasaBayu is a gated and guarded, stratified development and the maintenance fee and sinking fund is 30 sens psf. There will be common facilities such as a swimming pool, multipurpose hall, mini park and children’s playground. Residents of both the apartments and townhouses will have access to the facilities.

About 30% of CasaBayu’s total acreage is reserved for greenery, says Chee. The back lane of the townhouses will have linear gardens.

The target market for CasaBayu is first-time homebuyers, upgraders, newlyweds and government servants working in the vicinity.

 

Update on Cybersouth

Launched in 2015, the RM5 billion Cybersouth is 20% developed. The 25-acre central park, which is the centrepiece of the township, is completed and the 30,000 sq ft clubhouse was recently opened.

CasaView and GreenCasa, the first and second phases respectively, offer 950 units, all of which were handed over at the end of 2018.

The occupancy rate of these two phases is 70%, which is quite high, says Chee. He says the buyers are mainly owner-occupiers.

Casa Bluebell (previously known as Bellevue) is the third phase and the first townhouse development in the township. The 264-unit development is fully sold and will be handed over in the second quarter of this year.

The fourth phase, Casawood, comprises 251 two-storey terraced houses. To date, it is 99% sold and will be handed over at the end of this year.

Last year saw the launch of the first commercial component — Parkplace 1 — in Cybersouth. Of the 37 shoplots that were released for sale, 51% have been taken up.

The township is accessible via the Damansara-Puchong Expressway, Maju Expressway, North-South Expressway, South Klang Valley Expressway and Putrajaya-Cyberjaya Expressway.

 

Plans for the year

MCT has scheduled three launches this year, including CasaBayu. The other two, which will happen in November, are the first phase of Alira in Metropark Subang (gross development value: RM310 million) and Aetas Damansara in Bandar Damansara, next to Tropicana Golf & Country Resort.

The launches are valued at RM1.06 billion and the sales target is RM498 million, says Chee.

He says that most of the planned launches this year will fall in the RM500,000-to-RM700,000 category.

“We have done some surveys and in this soft property market, we see this segment as the most sought-after by purchasers. Moreover, the bank is more willing to finance this [segment],” he explains.

He observes that in the current market condition, the focus is also on the really high-end market, which is RM1.5 million and above.

The upcoming Aetas Damansara is a high-end condominium development and Chee says selling prices start at RM1.8 million.

“We have received plenty of interest for this project, mainly from people staying in the immediate surrounding [area]. There are a lot of empty nesters there who are used to staying in bungalows; you cannot ask them to downgrade to a 1,500 sq ft unit. The built-up of our units are 2,000 to 3,000 sq ft,” he explains.

Meanwhile, the developer is looking to replenish its land bank and is focusing on the Klang Valley, where the demand for housing is still strong.

Chee reveals that the short-term strategy is to look for land that comes with a development order so that the turnover time is faster. For the mid to long term, the developer is looking for bigger tracts to build townships like Cybersouth.

“That kind of land bank strategy (townships) is more sustainable. The advantage of pocket developments is the fast turnover. But for the long term, townships can last the company for 10 to 15 years. We aim to become a township developer,” he says.

Moving forward, the developer’s direction is to build its presence around the Klang Valley. “We don’t want to put everything in Cyberjaya or Dengkil only. We are aggressively looking out for other locations to establish our presence,” says Chee.