We just fell in love with the location. The lake view and surroundings impressed us so much that we decided to buy the land even though we weren’t considering Cyberjaya when we started looking for land at the time,” Tim Development & Construction Sdn Bhd manager Yap Lai Yee tells City & Country.
The parcel in Cyberjaya was acquired last year and the developer is building its first high-end project — Trillium — on it.
The 9.2-acre boutique development with three unique parks is situated within the 100-acre freehold Perdana Lakeside East enclave and is offering 55 link homes. The homes will have views of the Putrajaya Lake, one of the things that caught the developer’s eye and helped sealed the deal.
Phase 1 of Trillium was soft-launched on July 2 and 3. Of the 22 homes available for sale, 11 had been booked at press time. Yap says the remaining homes will be released depending on the sales in Phase 1.
Trillium’s target market is homebuyers looking to upgrade to a more spacious home and an enhanced lifestyle. “Trillium offers a resort lifestyle, away from the hustle and bustle of the city, where people can live close to nature,” says Lai Yee.
A small developer of medium-cost housing, Tim Development & Construction is looking to create a niche for itself by building unique high-end products, starting with Trillium.
“It will be a place where people can relax,” says project manager Yong Kee Woon of Trillium.
“The houses and parks are designed to cater for three generations of a family. We also want to ensure a low-density environment with plenty of greenery. In fact, 35% of the land has been set aside for green spaces.”
The 32ft by 90ft Trillium homes will have built-ups that start at 3,645 sq ft. With selling prices starting at RM1.6 million, the project’s gross development value (GDV) is about RM96 million.
Yong describes the houses as semi-detached link homes. “The exterior is designed to look like a semi-detached house, but the units are joined together at the back.”
Standard features include green elements like a rainwater harvesting system. Rainwater is collected in a 320-gallon tank on the roof and can be used to water the garden and wash cars.
Air-conditioning piping ideal for inverter systems is also included. The exterior windows will feature louvres and solar film to tap natural light and heat. Yet other features include individual hot water storage tanks in most bathrooms, security alarm points with sensor points and CCTV points.
The three parks within the project — Wood Land (0.9 acre), Water Wonder (0.6 acre) and Earth Park (0.5 acre) — have distinct features. Each has a different theme and landscape, with amenities like a jogging track, outdoor gym and space for different generations to enjoy.
The parks are located between the rows of homes and will be maintained by the developer for two to three years until a residents’ association is formed and is able to decide on maintenance issues, says Yong.
Tim Development & Construction was founded by Lai Yee’s parents Tim Yap and Sharon Chin in 1981. Initially involved in the timber industry, the company moved into property development in 1989. Lai Yee, joined the company in 2004.
She helped oversee the completion of the developer’s most recent project — Taman Suria in Sungai Long. Phase 1, which was launched in 2005 with a GDV of RM28 million, comprised 104 two-storey terraced homes. Phase 2, offering 124 two-storey houses, was launched in 2009. All the houses have built-ups of 2,000 sq ft and above and selling prices starting at RM320,000.
To date, Tim Development & Construction has built homes with an estimated GDV of RM125 million. Its first development was Taman Bukit Mentakab in Mentakab, Pahang, comprising 167 two-storey homes with a GDV of RM15 million.
That was followed by Taman Semantan Indah (GDV: RM3 million) in Temerloh, made up of 30 two-storey terraced houses.
Taman Kajang Mulia in Kajang, Selangor, was completed in 1996. With a GDV of RM22 million, it offered 266 two-storey terraced houses and a block of 78 apartments.
In 2001, the developer embarked on its fourth project in Batu Caves in Gombak, Selangor — 170 apartments in five blocks with a GDV of RM18 million.
Once Trillium gets underway, the developer will look for new land for similar niche projects. It owns six acres in Sungai Long but there are no plans for the land yet.
Trillium’s development is timely as demand for housing in Cyberjaya has increased of late, says Jerome Hong, managing director of agency and corporate services at PA International Property Consultants (KL) Sdn Bhd.
“The rapid rise of Cyberjaya as the preferred location for ICT, multimedia and services for innovation and operations resulted in an influx of knowledge and multilingual workers. That led to increasing demand for housing over the last few years.”
Prominent public-listed developers such as Mah Sing, UEM Land, S P Setia, OSK and Glomac have acquired sizeable tracts for development opportunities in Cyberjaya, Hong adds.
“Products by reputable developers are well received because their gated and guarded concept incorporates innovative designs and layout. In addition, some products offer green features, including rainwaiter harvesting systems, solar-powered water heater systems, lush landscaping with water features and so on.”
The mix of properties — condominiums and serviced apartments, townhouses, terraced homes, semi-detached houses and bungalows — meets the needs of different target groups.
While Hong is optimistic about the general outlook for the landed residential market in Cyberjaya, he offers developers a word of caution.
“The recent interest rate hike, loan-to-value ratio of 70% for financing a buyer’s third property and slowdown in the domestic and global economies may dampen the property market. Thus, developers may have to introduce further incentives such as attractive loan financing packages, rebate, additional fixtures and fittings and so on to drive sales.”
With the presence of larger and more prominent developers in Cyberjaya, what is the outlook for Trillium?
Lai Yee says the project has differentiated itself through its product and concept, plus it is a low-density development.
“We believe the larger developers in Cyberjaya cannot meet all the demands or needs of the current market. They are offering mainly gated and guarded schemes with clubhouse facilities. This generally translates into higher maintenance cost and additional fees required for the clubhouse. The density is also higher,” she observes.
“There is competition in every industry and in our case, we consider it healthy.”
This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 871, Aug 15-21, 2011
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