S P Setia to officially launch ViiA Residences by end September

KUALA LUMPUR (Sept 22): S P Setia Bhd is targeting to launch its second serviced residence in KL Eco City, ViiA Residences, at the end of this month, pending approval from the authorities. 

"ViiA Residences has a gross development value (GDV) of RM450 million, the construction will start in 4Q2016 and is expected to be completed by 2020," KL Eco City divisional general manager Tony Ling said during an exclusive preview of ViiA Residences today.

The leasehold serviced apartment development will offer 326 1-, 2- and 3-bedroom units with built-up sizes ranging between 636 sq ft and 1,252 sq ft.

"These units are carefully designed to appeal to discerning individuals or families wanting a home in the midst of a vibrant community," he added.

ViiA Residences’ selling price starts from RM980,000 or an average of RM1,600 psf. 

This will be a new benchmark pricing for such properties in the Mid Valley and Bangsar areas.

The 40-storey ViiA Residences is part of the 25-acre KL Eco City transport-oriented development (TOD), which features pedestrian link bridges that connect the residential towers to the light rapid transit station, Mid Valley City as well as The Gardens shopping mall.

Launched in 2011, KL Eco City has a GDV of RM7 billion — the development components include grade A office buildings, a 252-room four-star business hotel, three million sq ft of prime office space and a lifestyle retail mall.

KL Eco City is the first integrated development by S P Setia Bhd.

Meanwhile, Ling noted that the construction of the 300,000 sq ft lifestyle retail mall of KL Eco City is underway and is slated to start operations next year.

Apart from ViiA Residences, S P Setia has launched the first residence in KL Eco City back in 2012. The 708-unit Vogue Suites was sold at an average price of RM1,300 psf. It has since been fully taken up and will be handed over in 1Q2017.

“We are targeting high-income young professionals aged between 30 and 45 years old who want a vibrant city lifestyle and are looking for a home in an integrated development which offers various facilities and amenities within walking distance,” Ling added.

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