Glomac Bhd to launch Phase 1 of Loop City this weekend

• Loop City will be developed in four phases over three residential plots and one commercial plot.

PUCHONG (Nov 6): Glomac Bhd will be launching Loop Residences, the first phase of the 15.3-acre (6.19-hectare) Loop City with a gross development value (GDV) of RM1.6 billion, on Nov 11 to 12, said Glomac Bhd managing director and chief executive officer Datuk Seri Fateh Iskandar Mohamed Mansor (FD Iskandar) (pictured) during the unveiling ceremony of Loop City at Lakeside Residence Sales Gallery, Puchong on Monday.

Loop Residences will consist of 980 units of serviced apartments with built-ups ranging from 450 sq ft (one plus one bedroom, and one bathroom) to 750 sq ft (three bedrooms, and two bathrooms). With a GDV of RM345 million, the selling price is from RM230,000 to RM660,000. The target buyers are young professionals, first-time homebuyers, and retirees.

“With the rising cost of living, many individuals working in Tier 2 locations (Bangsar, Petaling Jaya and Puchong) have resorted to living in Tier 3 areas (Rawang, Sungai Buloh and Cyberjaya) to alleviate financial burdens. What we seek to establish, especially with young Puchong dwellers, is a choice to live and work in the area, and to be closer to their family instead of living away from the Puchong city centre,” said FD Iskandar.

Loop City will be developed in four phases over three residential plots and one commercial plot. However, there are no further details of the remaining three phases. The entire development is estimated to take about seven to eight years to develop.  

Upcoming launches in FY2024 and FY2025

In the same event, Glomac also announced the group’s upcoming launches within its Lakeside Residence township in Puchong. These projects are expected to launch in FY2024 and FY2025.

These launches are: Lakeside terraced houses (three acres; GDV: RM41 million), Lakeside semi-dees (23.9 acres; GDV: RM416 million), Lakeside Boulevard shop offices (six acres; GDV: RM90 million), and Rumah Selangorku affordable homes (four acres; GDV: RM69.5 million).

Lakeside Residences was launched in 2012, and occupies 188 acres of leasehold land. According to FD Iskandar, there are about 93 acres of undeveloped land within the township.

Additionally, he added that the developer hopes to work with the Selangor government to build a connecting bridge to Subang Jaya.

Accessible via the Damansara–Puchong Expressway (LDP) and the Shah Alam Expressway (Kesas), amenities nearby include the IOI Mall Puchong, Lotus’s Puchong, SetiaWalk Puchong, and the Pusat Bandar Puchong LRT Station.

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