PETALING JAYA (June 5): SMD Development Sdn Bhd is planning property launches worth some RM880 million starting mid-2017 to 2019, said its CEO Datuk Jeffery Tan.
First up will be phase two of SMD Kundang Industrial Park in Rawang, Selangor once phase one is fully sold, he told TheEdgeProperty.com.
“We are seeing light at the end of the tunnel for the property market, especially after Chinese New Year as our projects have received strong interest from buyers.
“Many interested buyers have been taking the wait-and-see approach for the past two to three years due to uncertainties in our economic outlook, but they have started to come back after Chinese New Year to look for factories to expand their businesses,” Tan added.
He is confident of the industrial property market in Kundang as the area is poised to attract small and medium industries from Rawang, Sungai Buloh, Kepong, Jinjang and Batu Caves. Kundang has become an area with good accessibility and connectivity, with highways such as the Kuala Lumpur-Kuala Selangor Expressway, Guthrie Corridor Expressway and North-South Expressway,
“In addition, many big players are launching their property developments in Kundang, namely Gamuda Land, Tan & Tan Developments, Mah Sing Group Bhd and Glomac Bhd, hence I believe Kundang will become a much sought-after area when it is fully developed in 15 to 20 years.”
Officially launched early this year, phase 1 of SMD Kundang Industrial Park consists of 14 semi-detached factory units with a gross development value (GDV) of RM52 million. The freehold development has been 50% sold so far and SMD is targeting to sell the remaining units by end-2017.
The built-ups for the factories range from 7,519 sq ft to 9,849 sq ft, while the land area sizes are between 12,007 sq ft and 17,001 sq ft.
“Prices start from RM3.39 million per unit. They are located within a guarded area and offer 24-hour security service, heat reflective rooftops and water reserve tanks,” said SMD sales and marketing manager Gary Yeung. He added that phase 2 will comprise six semi-detached factories and one detached factory with a GDV of RM30 million. Subsequently, SMD plans to launch Serai Murni, a mixed development with an estimated GDV of RM250 million, in 2H2018.
The 10.35-acre project in Kundang will be a low-density guarded community with an estimated GDV of RM100 million. To be developed over two phases, phase 1 will consist of 40 three- and four-storey shoplots and 46 double-storey terraced houses as well as 12 townhouses under the Rumah Selangorku housing scheme.
The built-ups for the shoplots will be between 4,200 sq ft and 8,400 sq ft, while the terraced houses will range from 2,300 sq ft to 2,500 sq ft. The townhouses will have a built-up of 1,000 sq ft.
“The indicative prices for the shoplots and terraced houses are RM1.5 million and RM500,000, respectively, whereas the townhouses under the affordable housing scheme will be tagged at RM250,000,” Yeung added.
Meanwhile, phase 2, which has an estimated GDV of RM150 million, will see the construction of 400 apartments that are planned for launch in 2019.
Further down the road, SMD will be launching its flagship development in Bandar Baru Kundang with a tentative GDV of RM600 million. The 36-acre project was formerly an abandoned project before SMD took over. “We have bought over the land and are revising the plan for the project to fulfil current market expectations,” Tan said.
“The integrated development will comprise lifestyle, entertainment, education and office components because we want to ensure the project is self-sustainable. We will roll out the project in 2019 or 2020,” he added.
This story first appeared in TheEdgeProperty.com pullout on June 2, 2017. Download TheEdgeProperty.com pullout here for free.
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