Southville City, Bangi by Mahsing

Jalan Peel, Jalan Cochrane, Pandan Jaya, Bandar Tun Razak, Bandar Tasik Permaisuri, Salak Selatan, Bandar Mahkota Cheras, Bandar Tun Hussein Onn, Kajang Town, Bandar Sungai Long, Jade Hills..

Southville City, Bangi by Mahsing

Postby XXX » Tue May 22, 2012 9:40 am

http://biz.thestar.com.my/news/story.asp?file=/2012/5/22/business/11332532&sec=business

412 acres, free hold (408 acres of it), planned direct interchange from North South Express Way, g&g residential, commercial, clubhouse, facilites.

Double story link from RM530K.

Quite a big development and the price seems reasonable too.

Opinions?
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Re: Southville City, Bangi by Mahsing

Postby shanged1 » Tue May 22, 2012 1:56 pm

just copy/pasting the exact link ..

Mah Sing to build township

PETALING JAYA: Mah Sing Group Bhd plans to undertake the building of a mixed township near Bangi, Selangor, after acquiring 412 acres there.

In a statement yesterday, it said it was paying RM333.26mil or RM18.55 per sq ft for the land.

In its third landbanking exercise, 408 acres of freehold land there will be from Boon Siew Development Sdn Bhd for RM330.8mil and the remaining 4 acres of leasehold land from an individual party.

Under the project Southville City, Mah Sing will provide 17,500 people with homes. Its first phase of this gated and guarded project will feature mainly double-storey link homes indicatively priced from RM530,000 onwards.

About 70% of the project's residential component will be priced below RM1mil to meet strong market demand for bread and butter properties.

The land is situated along the North South Highway, 3.2km from Universiti Kebangsaan Malaysia and 2.6km from the Sony plant. To allow direct access to the project, Mah Sing is planning a new interchange on the North South Highway just 2.5km from the existing Bangi interchange.

Mah Sing group managing director and group chief executive Tan Sri Leong Hoy Kum said: “The inherent appeal of the location along the North South Highway, proposed direct interchange and Mah Sing's expertise in township masterplanning make Southville City a very exciting development to look forward to. We believe our project offerings comprising residential and commercial products, mainly shops that meet market demand, complemented with extensive soft and hard landscaping, clubhouse and various facilities and amenities will do very well.”

Apart from the existing access routes, there are also plans to build a linkage from the Putrajaya Interchange to Jalan Kajang-Dengkil. This will further enhance access to the township.

The group is still actively looking for land to add to its landbank, which must also fit its quick turnaround business model.

“We want to replicate and even beat the success of our award-winning Aman Perdana township in Meru-Shah Alam and M Residence@ Rawang as well as Kinrara Residence in Puchong and Garden Residence in Cyberjaya where we have created self contained, secured lifestyle townships,” Leong added.

Following this acquisition, Mah Sing has met approximately 73% of its 2012 full-year landbanking target, which is to buy land that can generate a gross development value of RM5bil.

The group is still actively looking for land to add to its landbank, which must also fit its quick turnaround business model.
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Re: Southville City, Bangi by Mahsing

Postby shanged1 » Tue May 22, 2012 1:57 pm

on that same note .. kekeke ..

Kenanga cuts Mah Sing target price
Kenanga Research cut its target price for property developer Mah Sing Group <MAHS.KL> to 2.00 ringgit ($0.64)from 2.18 ringgit on an outlook for higher net gearing after acquiring more landbank.
Kenanga said it was neutral on Mah Sing's recent 333.2 million ringgit acquisition for 412.4 acres of land on the outskirts of the Malaysian capital.
"Although the 0.6x net gearing is manageable and isexpected to fall below 0.5x over the next two quarterson the back of continuous billings, we prefer developers to keep their net gearing ratios below 0.5x, particularly in the current global uncertainties," Kenang said in a note to clients.
As of 0221 GMT, Mah Sing's shares rose 4.8 percent, underperforming the Malaysian benchmark stock index which rose 0.40 percent.
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Re: Southville City, Bangi by Mahsing

Postby Propinv_12 » Tue May 22, 2012 7:51 pm

Looks promising indeed. Shall follow this one closely. I guess this should be quite near to the current Alam Sari development by I&P, potential booster then. Quite near to Putrajaya as well. And can easily reach KLIA using jalan belakang.
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Re: Southville City, Bangi by Mahsing

Postby eugene jk » Fri May 25, 2012 6:28 pm

Open for registration now.. Location is like at the last tier of Klang Valley.. still hav to see the overall offering and the "wow" factor they giving..
http://www.southgate.com.my/SouthvilleCity/register.php
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Re: Southville City, Bangi by Mahsing

Postby victor » Wed May 30, 2012 9:32 am

a lot of high tension cables (HTC) in bandar baru bangi...anyone visited the site and no HTC?.... need to be observant if interested to place your money there :lol:
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Re: Southville City, Bangi by Mahsing

Postby eugene jk » Wed May 30, 2012 10:47 am

victor wrote:a lot of high tension cables (HTC) in bandar baru bangi...anyone visited the site and no HTC?.... need to be observant if interested to place your money there :lol:


bro.. i only know 1 high tension between kajang and BBB leading towards Kajang2 and all the way to semenyih.. if you talk about that HTC, that is 5km away from MS SV
Please share some pics if you see any HTC in Southville region...
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Re: Southville City, Bangi by Mahsing

Postby wtf888 » Wed May 30, 2012 10:52 am

The project is opposite the highway across from Pekan Bangi. Not to be mistaken where Bandar Baru Bangi is located.

There is a nuclear research Institute heading towards Bangi.

Southville City will need some infra works to build access roads to the NS highway. Otherwise only way to access it is via old Bangi route towards Dengkil. :think:

Overall land cost at RM18psf will be double assuming they build the infrastructure and access ramps to the project from the highway.
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Re: Southville City, Bangi by Mahsing

Postby eugene jk » Wed May 30, 2012 10:58 am

wtf888 wrote:The project is opposite the highway across from Pekan Bangi. Not to be mistaken where Bandar Baru Bangi is located.

There is a nuclear research Institute heading towards Bangi.

Southville City will need some infra works to build access roads to the NS highway. Otherwise only way to access it is via old Bangi route towards Dengkil. :think:

Overall land cost at RM18psf will be double assuming they build the infrastructure and access ramps to the project from the highway.


IMHO, MS will definately leverage on the NS highway like UMland's Seri Putra.. The Hw has to be their main selling point..

RM18psf is higher as compared to SEH RM13.5?psf.. well IMHO, I do think building along NS Hw do stand better advantage than beside Lekas as traffic along NS Hw is much much more..
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Re: Southville City, Bangi by Mahsing

Postby wtf888 » Wed May 30, 2012 11:19 am

SP Setia and Sunway bought land in Kajang/ Semenyih for about RM13psf.

There are taikor in the area which has land at RM4psf.

And that area is cheaper than Cyberjaya, Putrajaya and closer to Cheras!

If MS does SV City at higher than those. Hard to sell la unless people are buying for the brand and township development.
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