Mah Sing's RM5bil Bandar Meridin East township
Date：2014/10/02
HAVING acquired approximately 1,352 acres (547ha) of freehold land in Pasir Gudang, Johor, Mah Sing Group Bhd will develop it into a mega township called Bandar Meridin East over the next seven years. The RM430mil land is located between Pasir Gudang and Tanjung Langsat, two of the largest industrial basins in Johor which constitute the key components of Flagship D: Eastern Gate in Iskandar Malaysia.
Mah Sing group managing director and group chief executive officer Tan Sri Leong Hoy Kum said the project with an expected gross development value (GDV) of RM5bil will be its largest township so far and is its fifth in Johor since 2000.
“The reasonable entry cost of RM6.81 per sq ft for the new land coupled with the deferred payment term of 48 months ties in well with Mah Sing’s strategy. Over a period of seven years, we will create a comprehensive township which will change the landscape of the locality for the better.
“Besides tapping into the spillover demand from our existing township of Sierra Perdana, there is a ready catchment of 100,000 people in Pasir Gudang alone,” he said.
The land is located 5km from the Pasir Gudang town centre, 9km from Masai town, 28km from the Customs, Immigration and Quarantine (CIQ) complex and Johor Baru city via the Eastern Dispersal Link (EDL) and Coastal highway, and 50km from the Senai International Airport.
“Being only 80km from Penggerang combined with Tanjung Langsat and Tanjung Bin, the project will be the focal point of Iskandar Malaysia’s much touted oil and gas hub in the Asia-Pacific region. This will provide a latent demand for housing.”
He added that besides the residential and commercial components, Mah Sing will also explore retail, recreational and industrial elements for the township after conducting a more thorough market survey and consumer need analysis.
Mah Sing’s proposed components for Phase 1 of Bandar Meridin East will include 500 units of landed double-storey link homes that will come with estimated built-up areas ranging from 1,800sq ft to 2,600sq ft and which will be priced from below RM400,000.
“We will integrate security features, soft and hard landscape details, clubhouse and various facilities and amenities in the township,” he said.
The first preview of the township’s Phase 1 is scheduled for release this November.
The proposed infrastructure upgrades within the district include the widening of Jalan Kong Kong undertaken by Mah Sing.
The construction of the third bridge from Desaru to Changi and a new Johor-Singapore rapid transit system (RTS) commuter service are expected to add value to the development.
Such upgrades will prompt further growth in the area, especially those related to eco-tourism and agriculture.