High demand for The Atas

KUALA LUMPUR: Maxim Global Bhd is poised to launch properties totalling over RM1bil in gross development value (GDV) this year, including the launch of The Atas in Taman Desa yesterday with a GDV of RM580mil.

Speaking with The Star, Maxim deputy managing director Jayden Gan Kuok Chyuan expressed high confidence in The Atas project, expecting a complete sell-out by the end of this year.

Since its soft launch, Kuok Chyuan said Maxim’s The Atas has already secured about 60% of bookings.

Looking ahead, he outlined the group’s ambitious plans to achieve RM1bil in launches this year in terms of GDV.

“If you talk about The Atas, it has a GDV of RM580mil. If we can do phase two this year, it will be another RM400mil. In our pipeline, there is also another (property development) in Sri Permaisuri. If we can kick that off, more than RM1bil will be launched this year,” he said.

The Atas development will feature a total of 624 units spread across three towers, offering three distinct layouts – 1,156sq ft (3+1 bedrooms and three bathrooms), 1,321sq ft (four bedrooms and three bathrooms), and 1,518sq ft (4+1 bedrooms and four bathrooms) – where units are priced from RM700 per sq ft.

Meanwhile, earlier in March, Maxim announced the acquisition of 2.63 hectares (6.51 acres) in Plentong, Johor for RM167.0mil.

Commenting on this, Maxim group managing director Tan Sri Gan Seong Liam shed light on the group’s potential development in Johor Baru within the first or second quarter of next year.

He also noted that the group owns around 17 acres of land in Taman Desa, with four acres occupied by The Address development that has been completed and close to another four acres reserved for The Atas.

“When The Atas reaches about 80–90% sold, we will proceed to launch other properties on the remaining 10 acres we have in Taman Desa,” he added.

Regarding market challenges, Seong Liam acknowledged the impact of rising costs on margins, explaining that they couldn’t increase prices due to unfavourable external economic conditions.

Despite this, he expressed confidence in maintaining satisfactory margins.

“We couldn’t increase the price. We can’t because, generally, the environment is not good outside. We will have slightly less margins, but it is still okay,” he said.

When asked what sets The Atas apart from other developments, Kuok Chyuan emphasised its appeal to affluent homebuyers, with units priced between RM750,000 and RM1mil.

He said the development targets a more discerning market segment compared to mass-market offerings, reflecting a slightly higher price per square foot.

Meanwhile, Seong Liam highlighted the significance of location, noting that The Atas’s prime positioning has alleviated concerns about sales performance.

“I think location is important. If you launch it at the right location, there is no concern about the sales,” he noted.

The pet-friendly development, comprising three blocks with a total of 624 units, features unique semi-detached layouts with eight units per floor.

Each unit includes a minimum of two parking spaces.

The completion of The Atas is scheduled for the third quarter of 2028.