KUALA LUMPUR (June 22): After some delay, Esquire Corner Sdn Bhd is set to officially launch Hijauan Saujana, a freehold serviced apartment project nestled within Saujana Resort near Ara Damansara, Selangor, this weekend. The development has a gross development value (GDV) of RM326 million and spans 4.82 acres (1.95ha).
The developer had initially held a preview for Hijauan Saujana back in 2007 at the height of the global financial crisis but following a less than favourable response, it decided to go back to the drawing board to replan the project and wait for market conditions to improve.
"We believe this is the right time to launch Hijauan Saujana. Previously, we had a totally different concept and target market. The previous development plan was for a rather upscale project, the units were huge, with sizes starting at 1,700 sq ft," said Shawn Yee Chun Syan, executive director of Esquire Corner.
He added that the replanning process for the development has been very market driven. "We now offer a good mix of unit sizes. Since introducing smaller units, the project has seen good response. About 70% of the studio units have been taken up prior to the official launch while 36% of the larger units have been sold."
Yee attributed the encouraging sales of the studio units to their lower entry level, which makes them affordable to single urbanites or young couples.
The development comprises three towers housing 539 units. There are 11 layouts with 209 units of one-bedroom apartments and 300 units of three-bedroom apartments with sizes from 621 sq ft to 1,879 sq ft. Prices start from RM311,260 to RM803,850. Maintenance is set at 18 sen per sq ft while the sinking fund is 10% of the maintenance fee.
Facilities at Hijauan Saujana include a clubhouse, kindergarten, multipurpose hall, an 80m infinity pool, playgrounds, laundry room, gym and a tennis court. The development is located next to Glenmarie Court and is in close proximity to various amenities including a mall, medical centre, three golf courses as well as the Japanese School of Kuala Lumpur.
Esquire Corner was founded in 2004. Other developments under its belt include the gated and guarded Maplewoods at Saujana also within Saujana Resort. It spans 11 acres and houses semi-detached homes. Prices for the homes have more than doubled to RM2.7 million from the initial launch price of RM1.2 million.
The company has also built a 115-acre mixed township in Johor called Taman Pulai Emas which currently enjoys a 90% occupancy. It currently has a four-acre plot located within the Iskandar Malaysia region, Johor, which it hopes to develop into a serviced apartment in the near future.
This story appeared in The Edge Financial Daily on June 22, 2012.