This article first appeared in City & Country, The Edge Malaysia Weekly on November 30, 2020 - December 6, 2020
Lion Group Property is looking to launch high-rise developments in its remaining land bank in Bandar Bukit Mahkota in Bangi, Selangor, next year.
According to its general manager Eddie Wong, only a 58-acre parcel, known as Serimba Heights, remains in the township.
The last landed homes in the parcel, Serimba Terrace — offering 97 two-storey terraced houses with a gross development value of RM76.7 million — were unveiled over two phases. The first strata-landed homes in Bangi, the low-density development will have only 11 units per acre. Facilities include a 24-hour security system with perimeter fencing, a lake, treehouse and basketball court.
“We had planned to launch Phase 1 in March but postponed it to June because of the MCO (Movement Control Order). This phase has 60 units. Then, we started selling the remaining units in Phase 2 in October. Together, these two phases are 80% taken up,” he tells City & Country.
“Strata landed allows residents to have proper fencing, a guardhouse and a joint management body — someone to take care of the surroundings. The indicative maintenance fee is RM200 for an intermediate unit.”
The 22ft by 70ft units are fully extended to allow spacious built-ups and avoid the hassle of renovation. The intermediate units measure 2,214 sq ft, and the corner units, 2,289 sq ft. Prices start from RM738,000, and the units are scheduled for completion in March 2023.
Wong says the fully extended model allows for five bedrooms and four bathrooms — an ideal design in the post-pandemic period, as the extra room can be turned into a study room.
“The extra room can also be turned into a hobby room or maid’s room. It is good for an extended family because of the space. All units come with a balcony for the master bedroom, designated air-conditioner ledges as well as a dedicated laundry area,” he notes.
“For Serimba Terrace, the concern is that some buyers are unable to get the loan margin they want, but we have a waiting list of buyers.
“The remaining land will have high-rise developments and shops, and we hope to complete everything in the next five years, depending on market conditions.”
Apart from Serimba Terrace, the developer’s ongoing projects are Resilion Residence in Bandar Mahkota Cheras and Banting Industrial City.
Lion Group Property has planned several launches, but Wong says they will depend on market conditions. They include an affordable home project in Negeri Sembilan as well as landed and high-rise developments in Bukit Segar, Cheras.
The group has undeveloped land bank in areas such as Taman Supreme Cheras, Jalan Goh Hock Huat in Klang, and Banting and Puchong in the Klang Valley. It also has undeveloped land in Batu Ferringhi, Penang; Tiara Melaka in Ayer Keroh, Melaka; Mahkota Hill Lenggeng in Negeri Sembilan; and Phnom Penh, Cambodia.
Save by subscribing to us for your print and/or digital copy.
P/S: The Edge is also available on Apple's AppStore and Androids' Google Play.