Matrix Concepts ready for new heights in FY2023

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Lee (left) and Haslah at the press conference.

Lee (left) and Haslah at the press conference.

NEGERI SEMBILAN: With the borders reopening, property developer Matrix Concepts Holdings Bhd (Matrix Concepts) anticipates continued growth of its performance in the next financial year 2023. 

New property sales are expected to reach RM1.2bil in FY2023, primarily due to the strong response to the flagship township Bandar Sri Sendaya, which seeks to provide for the growing shift of Klang Valley residents to Negeri Sembilan. The township’s connectivity to Klang Valley and low-entry housing cost present an alternative to Klang Valley’s competitive housing market.

While the property developer is looking at increasing their landbank within the Klang Valley, their focus is on their existing projects within Seremban, where their successful Bandar Sri Sendayan resides.

"We still have a number of years left for Bandar Sri Sendayan," said Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin, adding that the township would take 10 to 15 years to complete.

He said the overseas ventures had also proved to be fruitful. 

“We will be expecting earning contributions from our sold-out second Australian development, M Greenvale, while our Indonesian venture is going well with the encouraging execution of Menara Syariah, which is slated for completion at the end of FY2023,” he said at the group's MetaRaya Iftar event.

Matrix Concepts’ Melbourne developments, M Greenvale, is expected to be completed in May 2022 and 333 St Kilda, which is an A$80mil (RM250mil) 12-storey mixed development, is expected to launch in the middle of 2022. The group’s first development in Indonesia, the 29-storey twin tower Menara Syariah, is located in Pantai Indah Kapuk 2, an international waterfront township.

“We will be seeking opportunities for strategic collaboration to further strengthen our value proposition as well as securing quality land for developments in FY2023 as part of our growth strategy and to enhance shareholders’ value,” Haslah added.

Datuk Lee Tian Hock and Leong Jee Van were also at the press conference.

The event was also the launch of Matrix Concepts’ MetaRaya video, which showcased a futuristic Hari Raya celebration, featuring top Malaysian artist, Janna Nick. 


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