SELANGOR (May 14): Singapore-based Beverly Group Sdn Bhd will be unveiling phase two of its Equine Residence development in Seri Kembangan, in the second half of this year following the positive response to the recent launch of phase one.
Equine Residence carries a gross development value (GDV) of RM380 million. Beverly Group sales and marketing executive director Wendy Tang said phase one, which had been launched on April 8, has seen 63% of the 471 units taken up within two weeks. Beverly Group is a subsidiary of Singapore-registered Qingdao Investments Pte Ltd.
“We are quite pleased with the results. Most of the buyers are from this vicinity and we have a good mix of homebuyers as well as investors who are looking for rental yields and capital appreciation,” she told TheEdgeProperty.com.
Situated in the heart of Equine Park in Seri Kembangan, the 5.01-acre Equine Residence comprises two 29-story serviced apartment towers and one 30-storey tower offering Small-offices Home-offices (SoHos) situated on top of seven car park levels – including two basement car park levels – and the ground floor, which offers retail units. The whole development has a total of 861 residential units.
Tang noted that the serviced apartment units come in nine layout types while the SoHo units come in four layout designs. Built-up sizes range from 452 sq ft to 1,266 sq ft.
The selling price for Equine Residence phase one averaged at RM590 psf, with a minimum selling price starting from RM270,000.
“We plan to release the remaining units in phase two in a couple of months as there are already buyers on the waiting list,” she said.
The leasehold development also features 28 retail units on the mezzanine and ground floors. The overall development is slated to be completed by 2021.
According to Tang, there will be a covered pedestrian link bridge connecting Equine Residence to Aeon Equine Park Shopping Centre.
Equine Residence will adopt a classic yet contemporary English Garden concept, with picnic lawns, fountains, pavilions, maze garden, swings, covered walkways and detailed facade, which Tang viewed as the biggest selling point of this project.
“When we purchased this piece of land back in 2015, we were charmed by the open spaces in Equine Park, the neat roads and nice houses. Coupled with amenities like the Alice Smith School, this quiet estate gives an English country garden feel,” she explained.
Tang noted that Equine Park is surrounded by mature neighbourhoods such as Puchong, Seri Kembangan and Bukit Jalil; as the population grows in these areas, she expected a spillover effect on Equine Park.
In addition, the new interchange to the Maju Expressway and easy accessibility via the Damansara-Puchong Expressway have shortened travel time from Equine Park to Kuala Lumpur city centre, Putrajaya and Cyberjaya.
The Mass Rapid Transit Line 2, which will have a station in Equine Park, will also enhance the connectivity.
Notably, Equine Residence is Beverly Group’s first development outside KL, developed in collaboration with Mapletree Investments Pte Ltd from Singapore and Lai Sun Group from Hong Kong.
Beverly Group is the developer of Marc Service Residence in KL city centre. Its current projects include Quartz WM in Wangsa Maju and 28 Boulevard (28 BLVD) in Pandan Perdana.
Meanwhile, Tang noted that the company will be unveiling plot two of Quartz WM known as Fera Residence in July or August this year.
“Plot one – Lexa residence, which was launched in October 2016 – has been fully sold (438 serviced apartment units). Fera’s design will be similar to Lexa,” she said.
Fera will offer 386 serviced apartment units with built-up sizes ranging from 662 sq ft to 1,589 sq ft. Quartz WM is a 16.5-acre freehold mixed development that carries a GDV of RM1.5 billion.
This story first appeared in TheEdgeProperty.com pullout on May 12, 2017. Download TheEdgeProperty.com pullout here for free.