Seremban, Mah Sing, RM7.5 Billion and Ipoh. Nice.

I have many friends from Seremban. In fact many of them and they share a common trait with Ipohans like me. We love our hometowns and most probably would love to retire there. The only setback would be if you have been in KL for your entire working life, would you be able to accept a much quieter place? A lesser developed place? How about lesser options in terms of property choices? I have written a few times about Ipoh’s condo market. About Ipoh’s luxury condominium. Today, sharing a news about Seremban which I think will be welcomed by many as even if they are not buying this one yet, it meant that their choices has just opened up further.

One of Malaysia’s top developer, Mah Sing is planning a RM7.5 Billion Seremban township. Just how big is this RM7.5 billion? Well, this is bigger than the whole GDV for Penang for the year 2014. Amazing when you have the land and the space and perhaps the demand. This GDV in Seremdan is for a piece of 1,051 acre freehold land and it will be launched in 2015 and continue for the next 8 years.According to Mah Sing, this new township will benefit based on the following few reasons. It’s at the entrance of the Klang Valley corridor, proximity to the Kuala Lumpur International airport, Putrajaya administrative centre, Cyberjaya as well as demand from smaller places such as Rantau, Rembau, Port Dickson, Kuala Pilah, Tampin, Jelebu, Pedas and even neighbouring Malacca.

When we look at Seremban and compare it to Ipoh, it does share some similarities. Both does not have HUGE manufacturing industries but lots of smaller ones. However, if you look at the demand for properties in Ipoh, it continues to be strong because of the demand from smaller towns with Ipoh as capital city. It’s also strong because many Ipohans work elsewhere but is willing to buy a property back home, for them or for their parents. Besides that, bigger developers are also starting to buy up huge pieces of lands extending the Ipoh city even further. I think this is starting to happen in Seremban. Yes, it’s true, there’s already a huge project by IJM called Seremban 2 but if demand is not there, it’s not likely that Mah Sing is buying up such a large piece of land. I would love to drive there and take a look next year when they launch their first phase. Buy or not is another matter altogether, learning is a must.

written on 13 Aug 2014

Next suggested article: Reasons, Numbers and Potential from my latest Melaka visit
 

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