Myra by Oriental Interest Bhd (OIB) is set to launch Myra Putri, an affordable low-rise condominium project, next month. Located in Desa Pinggiran Putra, Selangor, and the fringes of Putrajaya, Myra Putri will be spread across 8.84 acres of Malay reserve land.

In an exclusive interview with City & Country, Myra’s general manager of customer experience Keith MacFarlaine says Myra Putri was inspired by Myra Putra, which was the developer’s first residential project in Desa Pinggiran Putra.

“For Myra Putri, we were more focused on what the customers needed as well as features that were lacking in the previous project. Myra Putra was part of the KPKT MyHome programme whereas Myra Putri will be fully opened to the public,” MacFarlaine adds.

With a gross development value (GDV) of RM120 million, the leasehold and strata-titled development will have 310 units across two six-storey blocks. Each condominium unit will have a built-up of 904 sq ft with three bedrooms and two bathrooms. Priced from RM372,000, each unit will be allocated two parking spaces.

The objective of the design is to maximise space, says MacFarlaine. “Usually, there is some sort of compromise in space for the bedrooms and kitchen area. For Myra Putri, we tried to maintain the balance between the rooms so that all the spaces are liveable and fully functional.”

Facilities offered in Myra Putri include a multi-purpose hall, a futsal court, an outdoor gymnasium, a trampoline garden, a BBQ area, a children’s playground and a surau. The development offers 24-hour security services and has a maintenance fee (including sinking fund) of approximately RM190 per month.

MacFarlaine: For Myra Putri, we tried to maintain the balance between the rooms so that all the spaces are liveable and fully functional (Photo by Sam Fong Wei Mei/The Edge)

Akil: We are trying to redefine the way people look at affordable homes through efforts that would maximise their value (Photo by Sam Fong Wei Mei/The Edge)

The maintenance fee for Myra Putri is subject to change, says MacFarlaine, adding that Myra Putra has a maintenance fee of RM240 per month currently. “Security services itself costs about RM10,000 to RM15,000 per month regardless of the number of units a development has. Including the facilities being offered, the maintenance fee is set at a pretty reasonable amount.”

Demand for affordable homes

According to Myra’s chief of culture and branding Akil Kalimullah, affordability is one of the main concerns for a large majority of homebuyers in Malaysia. “Affordability is always tied to the presumption of compromised quality and space. We are trying to redefine the way people look at affordable homes with efforts that would maximise their value.

“Our parent company, OIB, which is based in Kedah, has been in the property development industry for a long time but when we came to the central region, we realised that it was a lot more competitive. We had to set ourselves apart and address problems that didn’t have solutions. We also realised that, as homebuyers, we ourselves have had relatively unpleasant experiences when buying property as well,” he adds.

After much research and observation, Akil found that almost 60% of Myra’s customers for its earlier projects were first-time homebuyers. Today, first-time homebuyers make up close to 70% of its purchasers.

Myra Putri will primarily cater to young families and first-time homebuyers (Photo by OIB)

MacFarlaine adds that Myra Putri is no exception, as the developer is expecting many first-time homebuyers to take interest in the project. “We are also targeting the younger generation of homebuyers including young families as well as those working in and around Putrajaya, Cyberjaya and Dengkil. The majority of them buy for their own stay.

“When Myra Putra was sold out, we still had remaining customers wanting to buy units in the project, whom we later informed about the subsequent phase, Myra Putri. For Myra Putra, we had 95% first-time homebuyers, so for Myra Putri, we see no reason why it would be any different,” MacFarlaine says.

While the prices of units in Myra Putri are not as low as those in government-linked affordable housing projects, they are still affordable.

“It’s affordable because the price is genuinely affordable. When we worked on our pricing, we knew that 70% to 80% of Malaysians would be able to afford it.”

With the rise in overnight policy rates (OPR), people are struggling to buy property in the RM500,000 to RM700,000 price range, says MacFarlaine. He adds that the market for the RM300,000 to RM400,000 price range is more stable because there will always be a demand for such homes.

One of its major challenges is maintaining the balance between offering a variety of facilities and keeping the price affordable. “As developers, we have ample ideas and it’s easy to get carried away with the many features we want to incorporate into the development. We made tough decisions that would benefit our customers in terms of cost savings.

“For instance, we decided to build a futsal court in lieu of a swimming pool because it would cost more to maintain a pool. Our philosophy is to not cramp many different facilities into one area but instead, offer things that would really be necessary for the residents. We always had back-up plans; if either one was more cost-effective and easier to maintain, that would be the choice,” MacFarlaine shares.

Besides Myra Putra, the developer has also completed the Desa Pinggiran Putra 18 (DDP18) development, which comprises 18 units of semi-detached homes that have been fully taken up since their launch.

MacFarlaine is confident that Myra Putri will be able to replicate the success of Myra Putra and DPP18. “By launching Myra Putri, we aim to establish a new benchmark for affordability while innovating the way in which we address the needs of homebuyers. We are confident the project will do well due to its affordable price and practical facilities as well as external factors such as its surrounding location and conveniences,” he says.

Amenities near Myra Putri include government offices, restaurants, clinics and educational institutions as well as sports and recreational facilities. It is located 7km from Putrajaya, 13km from Bangi and 14km from Cyberjaya.

Myra Putri is accessible via the North-South Expressway (PLUS), North-South Expressway Central Link North-South Expressway Central Link (Elite), Maju Expressway (MEX), Kajang Dispersal Link Expressway (SILK) and the Kajang-Seremban Highway (Lekas).