This article first appeared in City & Country, The Edge Malaysia Weekly on April 3, 2023 - April 9, 2023

Contractor Infra Segi Sdn Bhd has been in the construction industry for almost 30 years and its clients include established developers such as Perdana ParkCity Sdn Bhd, Mah Sing Group Bhd and TA Properties Bhd. It has also done some small development projects in Malaysia.

Last year, Infra Segi strengthened its footprint in the property development industry with the takeover of an abandoned project — formerly known as Selayang Star City — on Jalan Kuching. The construction firm was the development’s main contractor.

Renamed 168 Park Selayang and developed under Infra Segi’s subsidiary 168 Park Selayang Sdn Bhd, the 6.89-acre leasehold development now has a gross development value of RM939.5 million, versus the previous RM1.6 billion. In his maiden media interview recently, 168 Park Selayang Sdn Bhd CEO Edward Lum notes that the development is the group’s first mixed-use development.

“We had done some small developments previously, but they were mostly not in KL. We are familiar with developments because we have done turnkey projects, where we handled [every aspect from] A to Z, [starting from] the quotation from the landowners. We did part of the marketing strategy and obtained all the approvals [for these projects],” Lum tells City & Country.

“We had been planning to move into property development [while] eyeing the northern PJ area … We were the first batch of main contractors for this project and were very much affected by the situation. Understanding the potential of this area with its accessibility and rapid development, we decided to become the white knight developer.”

He explains that the new name of the project is taken from the development’s lot number.

Moving from being a contractor to being a property developer came with mixed feelings, Lum says. “Contractors don’t have to worry about sales, but developers need to worry about sales because all cash flow comes from sales. That’s the main difference.

“Then, there is also the [lack of] flexibility between developers and contractors. Contractors can only follow directions from the clients and architects. My degree is in architecture, so I would love to be involved in design. It is a good opportunity for me to build something of quality.”

As only the podium had been completed when the project was abandoned, 168 Park Selayang Sdn Bhd has had greater flexibility in making changes to the design of the components and layout. A massive revamp to the initial master plan was made; for example, “70% of the exterior” has been transformed to make it more contemporary and trendy.

Also, from the initial three residential blocks and one hotel block, the final product will have no hotel. Blocks A and B will be serviced apartment towers under the Housing Development Act (HDA), while Block C will be a commercial block not covered under the HDA.

In addition, the initial five-storey shopping mall in the podium has been modified into a two-storey mall with a net lettable area of 235,000 sq ft. The upper three floors will be turned into car parks because of the high ceiling. The mall will be launched in August next year.

 Lum says the purpose of the revamp is to elevate the lifestyle element of Selayang and eventually make 168 Park Selayang a landmark in this Gombak town.

“Block A is a stepped building, where there are open decks for greenery only for residents of those floors, and the units are priced at a premium. The concept of greenery is in line with the nature of the area. On the other hand, Block B is a 40-storey skyscraper, whose residents will get to enjoy a full view of Selayang,” he explains.

“The image of Selayang is [linked to] the Selayang Pasar Borong (wholesale market), and we want to upgrade the lifestyle here with the mall, where people spend their time during weekends. It is a neighbourhood mall for daily needs, and we are keeping the mall.”

The previous developer, Leadmont Development Sdn Bhd, had already sold more than 680 residential units in the three blocks of the previous project.

Lum says that, after negotiating with the buyers, these units will be placed in Block C and each will have an additional parking bay. 168 Park Selayang Sdn Bhd is the project manager of Block C, where it is responsible for ensuring that the construction of Block C is completed. The company is the developer of Blocks A and B. 

Block C will be the first tower to be completed and is scheduled to be ready in 1Q2024. Meanwhile, Block A will offer 477 units with five layouts measuring 560 sq ft to 1,050 sq ft. It was previewed in December and about 180 units, or 37%, have since been taken up. It is slated for official launch this quarter and scheduled for completion in 2Q2024.

Block B will have 956 units measuring 674 sq ft to 1,074 sq ft. It will be launched in 4Q2023 and is expected to be completed in 3Q2025. The entire development will be completed in 2026.

Most of the buyers are from Selayang and Rawang. Lum attributes the good response to the pricing, which starts from RM297,000, or about RM470 psf; the company’s background as a contractor has allowed it to offer the product at that pricing. He notes that the 750 sq ft layout is the most popular unit, as it offers three bedrooms despite the size. Each unit will come with two parking bays.

“Another [attractive] feature of the development is the mall, which is something not available in other developments nearby. The only mall here is Selayang Mall, which is more than 20 years old. This will be a neigbourhood mall with F&B outlets and entertainment operators,” he says.

All residents share the four-acre facilities housed in the podium; there are an outdoor cinema, a jogging track, an indoor and outdoor gymnasium, a herbs garden, water playground, swimming pool and barbecue area, among others.

Lum says an objective of the takeover is to revitalise the project and the area. “We want to create a landmark for Selayang with active commercial activities. It is not easy to take up an abandoned project … It is a learning curve, but we know some good people who are advising us on this project.”

He adds that 168 Park Selayang Sdn Bhd will not close the door to revitalising other abandoned projects, especially those with good opportunities. It also plans to develop more projects, most probably mixed-use and high-rise ones in the Klang Valley. It is still looking at Northern PJ, as it believes the area has a lot of potential with amenities, and that many young people want to move into the area.

Notable construction projects by Infra Segi include Avani Sepang Goldcoast, Menara Surian in Mutiara Damansara, Nadi Bangsar, Scott Garden in Jalan Klang Lama and Royal Bintang Villa Resort in Cherating, Kuantan.

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