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KUALA LUMPUR: Putrajaya Holdings Sdn Bhd (PJH)’s Venice-inspired commercial development, the Promenade@8 in Putrajaya, has seen 80% of its 106 units taken up.
The freehold development is the first waterfront development in Putrajaya. It comprises shopping lots, outdoor dining and leisure areas.
“One of the main factors for the good take-up is the site itself, the waterfront has attracted a lot of interest. Another factor is the high demand for small and medium shopoffices (3-to 4 storeys) in Putrajaya,” PJH’s CEO Datuk Azlan Abdul Karim told www.theedgeproperty.com in an email interview recently.
Boasting a nett saleable area of 240,000 sq ft and with a GDV of RM126 million, Azlan said the newly-launched project is located on a 4.82-acre site and is visible from the Seri Wawasan Bridge. The latter is a favourite spot for photography enthusiasts, located approximately 3.5km from the Alamanda Putrajaya Shopping Complex.
Completion is expected within three years or by 2013. The units have sizes ranging from 495 to 17,139 sq ft.
The design of the project would include a trendy façade with “nautical look” and have tropical elements. With its proximity to a lake, Promenade@8 would probably host plenty of leisure activities such as jogging, lake cruising and cycling.
The project is easily accessible via most major highways such as Maju Expressway, South Klang Valley Expressway (SKVE), North Klang Valley Expressway (NKVE), Lebuhraya Damansara-Puchong (LDP), and other highways.
Azlan also explained that the federal administrative city of Putrajaya is not confined to only government offices. “More commercial developments such as shopoffices will be located in the periphery areas of Putrajaya and launched based on market demand,” he said.
He stressed that Putrajaya is a self-sustaining city with different types of development ranging from retail and private office developments to public amenities.
He added that PJH has a total undeveloped landbank of 801 acres, with 385 acres allocated for commercial development, while the remaining 416 acres have been earmarked for residential development.
Based on the Putrajaya Masterplan, the federal administrative city will take more than 20 years to be fully developed. “We still have 38,160 residential units to be developed and there is no pre-set time frame for them to be developed. The launching of these units depends on market demand,” Azlan added.
