Sunway Velocity on track for completion in 2020

PETALING JAYA (April 5): Sunway Velocity in Taman Maluri, Cheras will be 76% completed by end-2017 and on track for full completion in 2020.

Sunway Bhd executive director of property development division central region Ang Kee Ping told TheEdgeproperty.com that almost 50% of the 23-acre integrated development has received Certificate of Completion and Compliance (CCC), including V Office 2, V Residence 3 and the Designer Office. The other components Signature Shop Office, V Residence 2 and V Residence Suites are in different stages of progress.

Sunway Velocity offers six components comprising retail, offices, residences, healthcare, hospitality and public spaces in the V Boulevard and V Gardens areas. “We are targeting to complete the Signature Shop Office in the third quarter this year (3Q2017) and the two residential components by year-end. We are going to hand over these projects to their owners at the time of completion with CCC,” he added.

With prices from RM1,100 psf, V Residence 2 and V Residence Suites, which comprise 1,009 units, are 90% sold to date. The developer expects to sell the remaining units by 1Q2018.

Ang believed that all the components, when completed, will complement each other.

“Owners of the Residence Suites can enjoy the convenience offered by the shopping mall. On the other hand, business owners can also look forward to business from the residents besides the large crowd that will be flowing into Sunway Velocity due to its great connectivity with the Cochrane MRT Station, underground Maluri MRT Station and LRT Interchange that will be accessible by foot,” he explained.

He also assured that the walkways from Sunway Velocity to the Maluri and Cochrane MRT stations will be completed on time to provide seamless connectivity between the development and the MRT stations.

“Rest assured that we eagerly wish to complete the connections, and are working closely with every party to deliver it by the targeted date, which is the end of April for Maluri MRT station and end of this year for Cochrane MRT station,” he said.

Ang pointed out that Sunway Velocity mall has received very positive responses from the market with more than a million visitors since it opened on Dec 8 last year. The mall is 97% occupied.

Moving forward, more marketing efforts will be carried out, which include events and promotions, advertising and public relations initiatives, he said.

Ang also said that the mall expects to reach 100% occupancy by 2H2017.