This article first appeared in City & Country, The Edge Malaysia Weekly on July 31, 2023 - August 6, 2023

Ehsan Plant & Property Sdn Bhd, the property development arm of Ehsan Group of Companies, is launching the second phase of its Mutiara Austin Residence in Johor Bahru, Johor, in the fourth quarter. Spanning 4.2 acres in bustling Mount Austin, Mutiara Austin Residence is a leasehold serviced apartment development with a total gross development value (GDV) of close to RM300 million.

To be developed over two phases, the development offers nine shoplots on the ground level, 1,046 parking bays for residents (levels 1 to 8) and 650 serviced apartments (levels 9 to 16) spread across three blocks. Blocks A and B (first phase) have a total of 410 units, while Block C (second phase) has 240 units.

All three blocks offer six layouts with built-ups ranging from 743 to 1,353 sq ft. All units come with at least 2+1 bedrooms and two bathrooms. The selling price for the first phase starts at RM433 psf, or RM408,650, while that for the second phase is still being finalised.

“The second phase will have 240 units and is situated between Block A and B, so buyers have more choices in terms of the facilities floor view — the swimming pool view (between Blocks C and B) or the green view (between Blocks C and A), where the open green space and jogging track are located,” Datuk Abdul Hamid P V Abdu, CEO and founder of Ehsan Group of Companies, tells City & Country in an email interview.

He adds that Block C is targeted to be open for sale by the last quarter of this year. Meanwhile, the team is focusing on selling the first phase.

“The soft launch for the first phase was on Feb 25, 2023, when we did an exclusive preview and opened for registration of interest. Due to the encouraging response, we opened it (the first phase) for sale soon after the soft launch in mid-March and, to date, almost 50% of the units have been sold … Our buyers come from different backgrounds, groups and states. However, most of them are local Chinese who are familiar with Mount Austin and happy with the amenities that the established township offers.”

He adds that Mutiara Austin Residence is strategically located in the heart of the Mount Austin area. Apart from the fact that it is just a five-minute drive from Aeon Tebrau and Ikea Tebrau, the development is also surrounded by public schools, colleges and universities such as Sunway College Johor Bahru and Fairview International School Johor Bahru; healthcare centres and hospitals such as Hospital Sultan Ismail and JB Specialist Hospital; and other commercial hubs and retail malls such as Lotus’s Tebrau City and Toppen Shopping Centre.

“We strive to provide the perfect blend of lifestyle and living conveniences in Mutiara Austin Residence. It is why the shoplots are on the ground level, and we offer up to 21 common facilities in this low-density development,” Abdul Hamid notes.

Some of the common facilities in Mutiara Austin Residence are a swimming pool, gymnasium, outdoor gym, children’s playground, reading area, jogging track, pavilion, herb garden, chilling lounge, waterplay area and multipurpose halls. There is plenty of open green space to encourage outdoor activity. The estimated maintenance fee is 33 sen per month, including the sinking fund.

The nine shoplots on the ground level have not been launched yet.

“We have nine units (of shoplots), of which four are bumi lots. For the built-up size, it ranges from 635 to 2,056 sq ft. We plan to open it (for sale) soon as we have received a few strong interested prospects for the units. The selling price for these units will be from RM635,000 to around RM2 million.”

Although the developer does not get to control the retail mix of these shoplots, Abdul Hamid says that the team will be selective in the buyers and businesses that they bring into Mutiara Austin Residence because it will have an indirect impact on the homebuyers.

“We believe that this project will be the star of Mount Austin for its premium location … It is literally located in the Golden Triangle of the area and is selling at a very affordable price, starting from below RM500,000. It is also the last approved serviced apartment project in the Mount Austin area,” he says, adding that the first phase is slated for completion by mid-2027 and the second phase by early 2029.

Abdul Hamid shares that the team will soon introduce its second project in Nilai, Negeri Sembilan.

“Next year, we will be launching our second project in Nilai within Bandar Baru Nilai,” he says. “It is a serviced apartment project comprising 488 units across two blocks. Similar to Mutiara Austin Residence, we will offer a few different layouts to cater to different groups of buyers. The estimated GDV for this project is RM200 million. Other than that, we are also planning to launch a mixed-use development in Kampar, Perak, with a GDV of RM400,000. We will share more information (about the Kampar project) in due course.”

He adds that currently, the total GDV for on-going projects and projects in the pipeline is RM1.307 billion.

Abdul Hamid believes that the market’s purchasing power is recovering better than expected, especially among homebuyers. For the time being, the company will concentrate on developing mid-range residential properties.

“We are actively looking to acquire more land, especially in Johor, particularly Batu Pahat, Machap and Chaah. These locations are full of potential because of their good accessibility and strong market demand, and we believe that the future infrastructure upgrading plans by the local government will boost the local property demand,” says Abdul Hamid.

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