Elmina Valley Phase 3 launch this weekend

SHAH ALAM (July 22): Sime Darby Property will be launching Elmina Valley Phase 3 (EV3), the third phase of Elmina West in the City of Elmina township, this weekend at its sales gallery in Bukit Subang.

EV3 carries a gross development value (GDV) of RM280 million. It is part of the City of Elmina, a 5,000-acre freehold township with a GDV of RM25.8 billion.

EV3 is divided into two parts, namely EV3A and EV3B. EV3A and EV3B consist of 203 and 151 units of double-storey linked houses, respectively.

The freehold development has built-ups ranging from 2,626 sq ft to 3,030 sq ft. Prices start from RM793,888 and the homes are slated for completion in 2018.

“As of today, we have received more than 1,000 registrants for EV3. We are going to officially launch EV3 this weekend [July 23],” said Sime Darby Property Malaysia head of cluster 1 Appollo Leong to TheEdgeProperty.com.

He said 127 units of EV3 were launched exclusively to Sime Darby Property’s loyal customers earlier and they were fully sold.

“We only have an average of 15% cancellation and this is mostly because of failure to get a loan. I think 15% cancellation is not bad at all in the current soft market,” he said.

Sime Darby Property launched Elmina Valley Phase 1 (EV1) at the end of February and Elmina Valley Phase 2 (EV2) in early April.

Both phases were almost fully sold out within two days of their official launch.

In total, Sime Darby Property has launched and sold RM698 million worth of products in EV1, EV2 and EV3 within six months.

“EV3 sits at the main gateway to the City of Elmina on the higher grounds of Elmina Valley, adjacent to the Elmina River and a linear park that is easily accessible for recreational activities,” he said.

City of Elmina neighbours Bukit Subang, Denai Alam, Bukit Jelutong and Ara Damansara and is accessible via the New Klang Valley Expressway (NKVE), Kuala Lumpur–Kuala Selangor Expressway (LATAR), Guthrie Corridor Expressway and Federal Highway.

“City of Elmina is the single largest township development in Malaysia. It will be the leading development located at the heart of Selangor, known as the Selangor Vision City,” he said.

The township will be completed not only with 300 acres of gardens and parks, but alongside social spaces, a shopping mall and a medical and wellness cluster.

“The township will also have a 90km continuous cycling and running track,” said Leong.

This story first appeared in TheEdgeProperty.com pullout on July 22, 2016, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.