PETALING JAYA: Sunway Bhd’s development Sunway Geo Residences 2 recorded an 80% take-up rate during its soft launch at Menara Sunway on July 19 and 20.

The project is part of the RM2 billion gross development value (GDV) integrated Sunway Geo development spanning 23.4 acres (9.5ha) within Sunway Resort City. Previous launches consisted of retail shops, flexi suites, serviced apartments and residences.

Sunway Geo Residences 2 comprises 318 residential units spread over 36 storeys, including studio units and two- to three-bedroom units. Units range from 654 sq ft to 1,055 sq ft in built-ups and are priced at RM1,000 per sq ft (psf). Some units offer a view of the Sunway South Quay lake while others overlook the 800-acre Sunway Resort City.

Ong Ghee Bin, executive director, property development division for the central region, said in a press statement that the strong take-up rate demonstrates the market’s confidence in the Sunway brand as well as a strong belief in potential capital appreciation of the development.

“Many of our purchasers see Sunway Geo as a blue-chip investment,” said Ong. “Sunway’s proven build, own and manage model ensures them that their investment is backed by Sunway’s commitment to continuously evolve Sunway Resort City. It’s an investment that cannot go wrong — strategic location in a top-notch healthcare and education precinct, great infrastructure, all within an ever-growing city,” he said.

Residents in the future development will benefit from Malaysia’s first elevated Bus Rapid Transit (BRT)-Sunway Line to be completed in 2015, along with the Sunway University’s new campus and the expansion of the elevated canopy walk that connects the development to components of Sunway Resort City.

Sunway Geo Retail, once completed in 2016, will have 200 retail outlets and over 600 units of office suites to support the lifestyles of the residents.

Sunway Geo will be secured by Sunway’s own security team and CCTV under its Safe City Initiative which adds to its value as a liveable community.

Construction on Sunway Geo Residences 2 has begun and is slated for completion in 2018.

Meanwhile, Sunway’s launch of Sunway Velocity, an integrated development in KL South, one month ago celebrated a 90% take-up rate. Its RM382 million GDV residential component V Residence 2 consists of 334 units while its commercial developments, Signature Shop and Office consists of 50 units and 30 units respectively, with a GDV of RM250 million. According to Sunway, the success of both launches are a testament to the success of Sunway’s integrated development model with homebuyers.

Buyers present at the soft launch at Menara Sunway on July 19 and 20.

 

This article first appeared in The Edge Financial Daily, on August 1, 2014.

 

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