Thursday 29 Feb 2024
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This article first appeared in City & Country, The Edge Malaysia Weekly on February 28, 2022 - March 6, 2022

Myra by OIB (Oriental Interest Bhd) is set to launch the first phase of Myra Cove in Cyberjaya, Selangor, in March.

In an email interview with City & Country, general manager Wendy Lim notes that properties in Cyberjaya are either small high-rise apartments or large landed homes, and one can hardly find anything in between. Therefore, the condominiums at Myra Cove come in various sizes to fill the gap. 

“We intend to address the hardship faced by those living in high-rises during the Covid-19 pandemic. Any outdoor experiences depended on their being in the common areas. Hence, the units [at Myra Cove] will have their own balconies and some will come with a spacious terrace garden. The orientation of the units was carefully designed to [allow] unobstructed views of the surroundings,” she says.

Occupying a 6.39-acre parcel in the 11-acre freehold Myra Cove, Phase 1 has a gross development value of RM180 million and will comprise a total of 279 residential units. The units will be spread across four blocks — A1 (24 storeys, 210 units), A2 (5 storeys, 15 units), A3 (5 storeys, 34 units) and A4 (3 storeys, 20 units).

The project will be launched in two phases — the first in March and the second in the fourth quarter of this year. The units in Phase 1, due to be completed in December 2025, will have 3-bedroom, 2-bathroom layouts, with built-ups ranging from 872 to 2,067 sq ft and prices starting from RM454,800. Each unit will be entitled to two parking lots.

The choices for homes in Cyberjaya, Lim says, are limited and the current property market appears to focus more on the affluent and expatriates with luxury home options, or the investor market with residential units that are too small to raise a family.

Therefore, Myra Cove was designed with the intention of bridging this gap in the market and building a community for homebuyers looking to live in the development. “The units cater for those aged 25 to 50, including first-time homebuyers, singles, government servants, working professionals, young couples, young and multigenerational families, upgraders, investors as well as buyers from the surrounding/nearby areas such as Putrajaya, Dengkil, Puchong, Seri Kembangan and Kajang,” she says.

The developer says it intends to build a close-knit community, with buyers being able to enjoy affordability and practicality in a simple yet vital space called home. It believes that as more Malaysians come to terms with the reality of living with the pandemic, they will recognise the value of having adequate space for indoor and outdoor recreational activities. In this regard, Myra culture chief Akil Hassan Kalimullah reckons that Myra Cove is an ideal investment for homeowners seeking a balance between urban life and nature because 48% of the total land area in Cyberjaya is reserved for public amenities and greenery to promote wellness among residents and sustainability.

He says future residents of Myra Cove can look forward to putting the top-notch facilities to full use while enjoying the serenity of the nearby lake. The development will offer facilities such as an infinity lap pool, gymnasium, Jacuzzi, adventure playground, futsal/basketball court, badminton court, barbecue area, sun deck, herbs garden, cardio jogging path, reflexology path, calisthenics lawn and function room. The monthly maintenance fee, inclusive of sinking fund, is estimated at 22 sen psf.

Lim (left, with Akil): The units [at Myra Cove] will have their own balconies and some will come with a spacious terrace garden (Photo by OIB)

Akil highlights that one of the primary challenges of Myra Cove was the product design. 

“There has always been a constant debate on which is better, landed or high-rise. Many homebuyers prefer landed houses as the space is larger and better suited if one is looking to raise a family in the future. However, not all landed homes will suit every buyer’s lifestyle.

“As land in prime/central locations is scarce, landed homes are now smaller, and most of them are located in areas where accessibility and amenities are farther away. In cases where the size meets the needs of a homebuyer, the price is no longer within their affordability range. We developed Myra Cove to provide the likeness of a landed house in a high-rise development,” says Akil, adding that the units are expected to see a capital appreciation of 10% to 15% when completed in 2025.

Myra Cove is located near Gem In Mall, Centrus Mall, SJK(C) Union, SMK Cyberjaya, King Henry VIII College, University of Cyberjaya, Multimedia University, Hospital Cyberjaya and Cyberjaya Lake Gardens. It is easily accessible via the Putrajaya-Cyberjaya Expressway, North-South Expressway Central Link, South Klang Valley Expressway and Maju Expressway.

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