This article first appeared in City & Country, The Edge Malaysia Weekly on July 7, 2025 - July 13, 2025

It seems like only yesterday that the pandemic and nationwide lockdowns disrupted lives. Although those days are behind us, the lingering effects are still evident, particularly in dense urban environments where high-rise residential units were suddenly expected to serve as offices, classrooms and everything in between. It led many people to rethink what they really need from their home and revealed just how limiting some high-rise residential layouts can be.

“It was during the MCO (movement control order) that the team discussion on the layout for Veridian Residence took place over Zoom, replete with all sorts of background noise — baby crying, TV blaring, online classes in session. The first thing we put on the note was the need for versatile space,” Masteron Sdn Bhd director Choy Kin Mann recalls with a smile. “The second thing was figuring out how to make a 1,200 sq ft unit feel like 2,000 sq ft, because everyone was eager for more space at that time.”

These two priorities laid the foundation for the layout design of almost 40% of units in Veridian Residence, a condominium development located at PJS 5 in Petaling Jaya, Selangor, which is set to have its official launch in the third quarter this year.

As part of the bigger 18.4-acre VTown master plan with an estimated gross development value (GDV) of RM3.7 billion, the 5.062-acre Veridian Residence is the second launch following the completion and handover of the first project, Verando Residence, which was launched in 2023.

With a GDV of over RM900 million, Veridian Residence comprises 1,167 condominium units in three residential towers. It offers eight layout options with built-ups ranging from 947 to 1,302 sq ft. These include the conventional 3-bedroom and 2-bathroom layout, a versatile space layout designed for flexible living and dual-key layouts that cater to the needs of investors. Every unit comes with at least three bedrooms and two bathrooms, with an average selling price of about RM700 psf.

“We all know that for most people, buying a home is likely one of the biggest — if not the biggest — investments in their entire life. It is a decision they can’t afford to get wrong. We value our buyers’ investment as much as our own, hence when designing Veridian Residence, we wanted it to be adaptable in every stage of life — from single living to married life to raising children and even have room for ageing parents in the future. When the buyer gets older and no longer needs a 3-bedroom, he can move into the dual-key en suites and rent out the larger unit for rental income,” Choy suggests.

While Veridian Residence is designed to attract families looking to settle down and grow, the strong rental market here cannot be overlooked — as demonstrated by the rental performance of units at Verando Residence.

“Our [target market] focus has always been the homebuyers. For Verando Residence, according to our survey, 82% of buyers purchased for own stay. However, some of them were pleasantly surprised by the strong rental demand here, thanks to the fact that our site is just 3km away from popular colleges and universities such as Taylor’s, Sunway and Monash. Every year, we see an influx of international students seeking decent lodgings not too far from campus, and our project is benefiting from that spillover effect,” he explains, adding that the rental yield for Verando Residence is up to 9%.

“As a result, some buyers changed their minds about moving in and rented out their units instead. We even had a buyer who moved elsewhere to live  because it made more financial sense to lease out at Verando Residence for the higher-than-average-market rental yield.”

The strong rental demand inspired the developer to introduce the dual-key layout for Veridian Residence.

“That said, we are not moving the needle [from targeting homebuyers] too much, as we still believe that for a property to be long-lasting and truly thrive, it needs residents in it for the long term — settling down, raising families. The dual-­key option simply gives buyers the flexibility to live or rent, or both,” he notes.

This approach also reflects the company’s core value of developing a project that buyers won’t regret purchasing. To achieve that, the project must be able to meet their current needs, and be ready for changes tomorrow may bring.

“It is one of the key reasons for the versatile space in Veridian Residence units. It is a decent space between the living and dining areas. Buyers can leave it open and let it be part of the common area, enclose it with a sliding door for a home office or study room when needed, or wall it off to make another cosy small room,” he says.

The versatile space comes with a three-panel, full-height sliding door with a railing similar to that of a Juliet balcony, letting in plenty of natural sunlight. It is perfect as a sunroom, reading nook, comfortable dining room or even a semi-outdoor garden, Choy highlights.

He shares that the design of Veridian Residence is Japandi-inspired, a blend of minimalist Japanese and Scandinavian styles, which creates a warm, homey atmosphere while embracing a forward-thinking approach to urban living. This is not only reflected in its practical layouts but also in its family-oriented facilities, such as infinity swimming pool, badminton courts, jogging track, reading and yoga areas, gymnasium, playground and open lawn.

“We have about 3.2 acres of lifestyle facilities with green features, such as a rainwater harvesting system, ventilation-conscious design and significant landscaping. It is also a provisional GreenRE Silver-certified project,” says Choy.

The project site is located next to the New Pantai Expressway, and easily accessible via the Damansara-Puchong Highway and Federal Highway. It is surrounded by established neighbourhoods such as Sunway City Kuala Lumpur, Kelana Jaya and Puchong, offering immediate access to mature amenities such as shopping malls, schools, public transportation stations and commercial hubs.

While Veridian Residence is nestled in the mature PJS 5 area, it lacks a commercial hub to serve the neighbourhood’s daily needs. This is where The Village comes into play.

“No doubt PJS 5 is very strategically located with great accessibility, but let’s not deny that it is an old housing area dominated by landed houses and lacking a commercial hub. This area is in need of a new heartbeat where people can hang out, have their daily needs met and even take up some recreational activities. It is our aspiration to build The Village,” Choy shares.

Spanning 9.7 acres, The Village is the last parcel of the VTown master plan. The commercial tract, which will be developed in phases, consists of single- and double-storey shoplots, a wellness and sports centre and other commercial developments yet to be finalised.

“Currently, we are building the first sub-phase [of The Village] with 19 lifestyle shoplots, which we plan to retain to better control the tenant mix. We are aiming to bring in F&B and service businesses to serve our residents as well as the neighbourhood. The construction of these shoplots is ongoing and we hope to unveil the key tenants early next year. The rest of the components in The Village will be announced in due course,” says Choy, adding that The Village will have a potential GDV of RM2.2 billion.

He says Masteron is the largest landowner in PJS 5, with a combined land bank of 36 acres and an estimated GDV of over RM5.5 billion. VTown is the largest tract while the remaining are pocket lands, earmarked for high-rise residential developments.

“Not many people know this, but we were the first developer to deliver a high-rise residential [project] in the area. We took over a high-rise residential project abandoned for 15 years, which is now called Villaria, and it was completed in 2015. The project somehow ‘activated’ the area and brought in more market attention. We take pride in that, and we always wanted this place to flourish,” says Choy.

Over the past decade, PJS 5 has seen a surge in high-rise developments. Back in 2015, Villaria was the only high-rise residential project in the area, offering just 304 condominium units for the entire area.

Today, the number of completed and incoming high-rise residential units has grown to over 4,700, more than half of which are in projects by Masteron. Alongside this growth, the average price psf has risen significantly from around RM250 in 2015 to about RM700 today.

“Urban redevelopment is a big theme now, and we have embraced that ethos since 10 years ago,” Choy says with a smile. “The Village strives to bring new life to this area, introducing a fresh lifestyle, creating more buzz and helping the neighbourhood become more self-sustaining and more urbanised.”

Masteron has an undeveloped land bank of over 300 acres in Greater Klang Valley, mostly in Puchong, Petaling Jaya and Kuala Lumpur city centre.

“We have always positioned ourselves as an urban developer. We focus on what we do best — high-rise residential development, and it is also our main project development direction,” says Choy.

The other ongoing high-rise residential developments are Astra Residence and KR7 Residences, both in Puchong. As at June, both developments had  achieved take-up rates of 56% and 82%, respectively.

Future launches include a premium development and a hospitality development on Jalan Stonor and Jalan Raja Laut in Kuala Lumpur city centre. There is no launch date for the projects just yet.

“Actually, both projects are ready to launch, but we feel the KL property market is a bit overheated, and we are waiting for the right time to roll them out. It could be this year, or the next, depending on market conditions,” he says.

“One good thing about being a privately held company is that we don’t have the pressure to launch just to hit the numbers. It gives the management more control over the timing of launches, as well as to make quick decisions in a dynamic property market. The last thing that we want to do is to launch a project just for the sake of launching. Our approach has always been to take things one step at a time, stay focused, do each project right and move forward steadily.”

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