This article first appeared in City & Country, The Edge Malaysia Weekly on March 3, 2025 - March 9, 2025

The new office of MaMing Group of Companies at PJX HM Shah Tower in Petaling Jaya, Selangor, takes up 6,760 sq ft — considerably larger than its previous 1,173 sq ft space in that tower. Its director Lee Yan Yaw says the move is in anticipation of a very busy year for the group with the planned rollout of six projects and to accommodate new hires as it expands its operations.

The property developer has grown steadily since its inception in 2020. Lee himself is surprised at its progress as he had not expected this number of projects for a company that was set up less than five years ago.

He told City & Country in late 2023 that MaMing planned to launch four projects a year. This goal has not changed, but there are six launches this year because two of them were postponed from last year due to an approval delay, he explains. The estimated total gross development value of these projects is just under RM530 million.

Lee also reveals that the group recently acquired an Industrialised Building System (IBS) company via its subsidiary MaMing Precast Sdn Bhd. It now controls 90% of Dinasti Cendana Sdn Bhd, which utilises the Industrialised Site-Cast Panel Building System (ISP System).

Dinasti Cendana has over three decades of experience, having completed more than 15,000 landed properties and high-rise units in Selangor, Pahang, Negeri Sembilan and Thailand. The ISP System helps the company to manage costs and have a faster delivery time, he points out.

“This company [Dinasti Cendana] was started by a contractor who used to work for [property developer] SBC Corp Bhd,” says Lee, who worked for SBC Corp as its finance manager in 2004 and has known this contractor for more than 20 years.

“When I met him, he had done 3,321 low-cost, single-storey units in Batang Kali for SBC using a mobile factory. He also did 400 units of low-cost five-storey walk-up apartments and 288 double-storey houses in Klang. He then did a wonderful project in Thailand, building a five-storey walk-up, with 256 apartments fully completed in 18 months.”

This system can be used to develop low-rise buildings, bungalows, semi-detached homes and the ubiquitous two-storey terraced houses. But for now, the system will be used for single-storey terraced houses as these are easier to build and sell, he explains.

DK Square in Kundang, Selangor, was the first development to be launched, having opened for sale in January. The commercial project, which sits on 6.451 acres of leasehold land, has a gross development value (GDV) of RM72 million.

DK Square features 50 shopoffices, six of which are three-storey units with lifts provided, while the rest are two-storey walk-ups. Each unit, measuring 20ft by 70ft to 34ft by 77ft and with a built-up of 2,660 to 6,937 sq ft, comes with an individual title. The selling price starts from RM1.108 million to RM3.088 million, or RM416 to RM445 psf.

So far, 25% of the units have been booked. Lee mentions that of the six 3-storey units, only three are still available. 

“DK Square is in Kundang town [not far from Rawang] and located between Jalan Kundang and Jalan BBK Utama,” he adds.

DK Square is the first phase of a larger 100-acre development. The second phase will feature commercial and residential properties, while the last phase will be purely residential, says Lee.

“There will be 99 shoplots [in the whole development], with 50 units in Phase 1 and 49 units in Phase 2, making it a commercial hub.”

He adds that the reason it decided to build commercial properties first is for cash flow purposes as these are easier to sell compared with residential properties.

Lee says Phase 2 will feature single-storey terraced houses and cluster semi-detached homes, where four houses share two party walls. The reason it is offering this type of property is to differentiate itself from other developers in Kundang that are offering double-storey terraced houses, he explains.

He estimates that there will be 150 single-storey terraced houses measuring 22ft by 60ft and 48 units of cluster semidee homes measuring 40ft by 65ft in Phase 2. The details of the residential properties in Phase 3 have not been finalised yet and will be revealed at a later date.

The second project to be launched is D’Garden in Shah Alam, Selangor, in 2Q2025. This RM38 million development will sit on 4.75 acres of freehold land and feature 10 single-storey and 50 double-storey terraced houses. Adopting a modern design, the houses, measuring 22ft by 65ft and 20ft by 75ft, will have built-ups of 1,127 to 2,107 sq ft. The selling price is from RM250,000 to RM924,800.

“This was a stop-work project, where the previous developer built it halfway and then stopped work and did not continue. It is not an abandoned project, where units were sold and then the developer failed to deliver,” Lee explains, adding that the homes come with individual titles.

It will be a guarded development but not a conventional one. “We will provide a solar-powered boom gate, which we will maintain for two years and later hand over to the residents’ association to manage,” he says, adding that hibiscus will be planted along the perimeter of the development to beautify the area.

The development can be accessed via several highways — the New Klang Valley Expressway, Federal Highway, Kesas and the new West Coast Expressway.

The third project, also to be launched in 2Q2025, is D’Heights 2 in Cheras Selatan, Selangor, near the Balakong area, says Lee. This is the second phase of the D’ Heights townhouse development, which is a joint venture with the landowner.

D’Heights 2, which will sit on 4.104 acres of leasehold land, will have a GDV of RM77 million. It will feature 144 townhouse units in a gated and guarded community. Like in the first phase, the townhouses will be built as 4-storey buildings on a slope, where the two upper units will be served by a road on the higher portion, while the two lower units will be served by a road on the lower portion.

The townhouses, measuring 22ft by 76ft, will have built-ups of 1,115 to 1,288 sq ft. The selling price is from RM478,000 to RM628,000, or RM405 to RM487 psf.

The development will feature 24-hour CCTV surveillance and an exclusive clubhouse that offers amenities such as a gym, private lounge and multipurpose hall. The estimated maintenance fee, excluding the 10% sinking fund, is 20 sen psf.

D’Heights 2 will be close to Cheras Traders Square, AEON Cheras Selatan and The Mines Shopping Mall. The development can be accessed from the Kajang Dispersal Link Expressway (SILK Highway) and Sungai Besi Expressway.

The fourth project to be launched, also in 2Q2025, is the RM110 million D’Windmill in Tanjung Tualang, Perak. This development, a joint venture with the landowner, will sit on 53 acres of leasehold land and be developed in three phases. There will be a total of 430 single-storey terraced houses and 10 double-storey shoplots.

The single-storey houses, measuring 20ft by 65ft to 40ft by 65ft, will have built-ups of 900 to 1,100 sq ft. The selling price ranges from RM90,000 to RM360,000, or RM100 to RM290 psf.

The 10 double-storey shoplots, measuring 22ft by 100ft, will have built-ups of 3,330 sq ft. The selling prices are from RM800,000 to RM1.8 million.

“This project is next to the Tanjung Tualang Tin Dredge No 5 and Escape Ipoh Theme Park,” says Lee.

The residential properties will be built using the ISP System, with the mobile factory set up near the prepared land for workers to put the panels together. The developer is trying to create a resort-like environment and that the shoplots will face a lake, he says.

As an additional differentiating element, there will be a windmill structure near the waterfront to act as a landmark for the development, says Lee.

The fifth project, which will be launched in 3Q2025, is D’Mirror in Bukit Teratai, Selangor. The development, another joint venture with landowners, sits on 1.926 acres and will have a GDV of RM124 million.

“In Bukit Teratai, this is the last piece of land among all the houses. It is 1.7km from the Sungai Besi-Ulu Klang Elevated Expressway (SUKE) toll exit and will face Kuala Lumpur city centre,” says Lee.

The development will feature a 28-storey serviced apartment block offering 262 units with built-ups of 909 to 988 sq ft. The selling price starts from RM250,000 to RM666,800, or RM275 to RM675 psf.

Levels 1 to 9 will be the carpark levels, while Level 10 will be the facilities podium, with a swimming pool and gym, among others. On Levels 11 to 28 will be the serviced apartments. The maintenance fee, excluding the 10% sinking fund, will be 25 sen psf.

The sixth project, to be launched in 4Q2025, is D’Straits in Kota Laksamana, Melaka. This mixed-use development will house several components in a single 23-storey tower. Levels 1 and 2 will be commercial units, Levels 2 to 9 will be 26 units of offices, as well as parking bays, while Level 10 will house the facilities and Levels 11 to 23 are the 144 serviced apartments. The project will have a GDV of RM107 million.

“It is a very unique location, just behind the Brew House Melaka, and is surrounded by shops,” says Lee, adding that this project was also a stop-work development, with the groundwork already completed.

D’Straits’ serviced apartments will come with built-ups of 900 to 4,000 sq ft and will sell from RM414,800 to RM1.98 million. The offices will have built-ups of 2,810 sq ft and will sell from RM384,800 to RM1.23 million.

D’Straits will be MaMing Group’s second project in Melaka after D’Bayu Residen, a four-tower condominium project in Ayer Keroh. Launched in January 2024 and scheduled for completion in December 2026, the project has 350 units in total and a current take-up rate of 25%.

Maintaining costs is key to surviving in the property development industry, particularly when costs are increasing across the board. Lee, who is a trained accountant, is cognisant of this and has put in place strategies and plans to manage these. One way is to calculate the cost of the project and then add 10% to the figure so they know how much to work with. Another way is to have an established panel of trusted suppliers to ensure they get the best prices.

He says the developer is looking to have its projects green certified with GreenRE. One project that he is in discussions with GreenRE for certification is D’Mirror in Bukit Teratai. Eventually, environmental, social and governance (ESG) elements will be part of the company’s ethos as this is what the market expects and banks are supporting this with green loans, he adds.

When asked about land banking, Lee says it is not actively looking for land but it is open to acquiring if there is any good land available. For now, MaMing Group will develop what is suitable for the land it has and not focus on any particular product.

The group has grown quickly with the various projects under its wings. Lee believes that timing, determination and the desire to build something meaningful have played a part in its progress. “I always believe, don’t give up in life and always move forward. Don’t think about what you can get, but think what is the best you can do for others,” he says.

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