PETALING JAYA (Feb 1): Sunway Property has acquired land in Cheras for RM42 million for a future residential development.

In a media statement today, the property arm of Sunway Bhd said it has signed a sale and purchase agreement with CTM Development Sdn Bhd to acquire a 3.34-acre freehold land in Taman Mutiara, Cheras.

Located 400m away from EkoCheras Mall that offers direct connectivity to the Taman Mutiara MRT station, Sunway Property plans to build exclusive homes with consideration for new-norm lifestyles comprising townhouses and condominiums.

Sunway Property managing director Sarena Cheah said that the proposed freehold, close-to-transit development will cater to the pent-up demand for larger living spaces to cater for more activities, including work done at home as part of the new normal.

“In addition, we are planning for spacious and functional outdoor areas within the development, with health and wellbeing a top priority in the minds of everyone. We plan to develop an exclusive residential development comprising just 255 units of townhouses and condominiums with slightly larger built-up areas to accommodate new normal lifestyles.

"First-time homebuyers, young families, upgraders and seniors who have long called Cheras their home and want to move to a more secure community with lifestyle facilities will find the development attractive as it will be designed with elements of connectivity, healthy lifestyle, convenience, community and security in place,” said Cheah, adding that prices are expected to start from RM650 psf.

The land is surrounded by a host of amenities within a 5km radius including Sunway Velocity, Taman Tasik Permaisuri Park, Pantai Hospital Cheras, UKM Medical Centre and UCSI University, with easy access to multiple highways such as the Cheras Kajang Expressway, the Kuala Lumpur Middle Ring Road 2 and the Salak Expressway.

As the land comes with an approved development order secured, the group targets to launch the project by the first half of 2022. It is expected to be completed in 2026.

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