JKG Land targets 75% take up for first phase of The Era Duta North

KUALA LUMPUR (APRIL 14): JKG Land Bhd managing director Datuk Teh Kean Ming is confident of achieving 75% take up of the first phase of the company’s maiden project, The Era Duta North, this year.

"Yes, we are confident of achieving 75% take up of the first two blocks this year. Once we hit 75% take up, we will launch the second phase," said Teh during the project media briefing.

The 14.86-acre freehold mixed development comprises 2,913 serviced apartment units spread in six blocks of 53 to 63 storeys, 3-storey 277,000 sq ft retail podium, 8-storey car park podium and more than six acres of landscaped Forest Village and wetlands. It has a gross development value of RM2.1 billion.

The RM583 million Phase 1 consists of two serviced apartment blocks with 921 units. The built-ups will range from 631 sq ft to 1,300 sq ft, with an average selling price of RM600 psf.

"We are set to transform Segambut. For the first movers of this transformation, who are also our first phase buyers, we are setting the selling price at an average of RM600 psf for this freehold Kuala Lumpur project. We will adjust the price for future launches," said Teh.

There are more than 100 facilities in the development, such as gymnasium, water pavilion, swimming pool, multipurpose hall and roof garden. The maintenance fee is 28 sen psf.

The first two serviced apartment blocks are expected to be completed by 2020.

The Phase 1 was previewed in November 2016 and has received 50% bookings so far. The official launch of The Era will take place in The Era Sales Gallery in Segambut tomorrow (April 15).

"We are confident on the response of the launch tomorrow. We expect some to drop out of bookings but we are optimistic about this project," said Teh.

Meanwhile, Teh added that the 277,000 sq ft retail podium will be retained by the developer so that it can control the tenant mix. There will be a supermarket, food and beverage outlets and supporting services such as a clinic and hair salon. The retail podium will be opened to the public, with a dedicated entrance to the non-residents’ car park.

The Era Duta North is accessible via the Duta-Ulu Kelang Expressway, Sprint Expressway, Jalan Tuanku Abdul Halim, Jalan Ipoh and Jalan Kuching. It is also 5km away from the Matrade Exhibition and Convention Centre, Mont’Kiara and Publika.

JKG Land will also to build a link bridge across Sungai Keroh to Jalan Putramas and Dutamas 2 exclusively for residents of The Era Duta North. The bridge will be under the developer’s management.

"The link bridge offers great convenience and connectivity to surrounding hubs such as Publika, Dutamas, Solaris, KL Metropolis and Matrade building. It is not only adds to the residents' convenience but certainly eases traffic into Jalan Segambut," said Teh.

The Era Duta North is the maiden development of JKG Land, which is owned by business tycoon Tan Sri Robert Tan Hua Choon, who is also the chairman of the company.