KUALA LUMPUR: Hatten Group Sdn Bhd is venturing into Negeri Sembilan with the launch of a mixed-use development comprising student housing atop a campus-themed mall tomorrow.
Unicity, with a gross development value of RM250 million, will come up on a two-acre (0.8ha) freehold site next to the Universiti Teknologi Mara (UiTM) campus in Seremban 3, whose students Hatten plans to cater for with the project’s facilities and student housing, group managing director Colin Tan told The Edge Financial Daily.
“With over 5,000 new enrolments [at UiTM] each year, Unicity is strategically designed and thoughtfully equipped to cater to a dynamic youthful environment,” he said.
There will be 250 units of serviced apartments with two typical layouts,
with built-ups of 350 sq ft and 507 sq ft. Prices start from RM198,000. The apartments are sold on a compulsory leaseback basis where Hatten will undertake the leasing of the apartments to students and offer a return of 6% per annum over the next six years. The project is expected to be completed by mid-2017.
Some facilities include futsal and basketball courts, lap pools, a gymnasium and games room. Meanwhile, the 350,000 sq ft retail podium will feature retail lots that range from 150 sq ft to 1,200 sq ft and are priced from RM138,000.
The mall will basically provide conveniences and facilities to support the students such as laundry services, photocopy services, cyber cafes and reading lounges, says Tan.
|Unicity will feature serviced apartments, retailers and facilities that cater for students.|
This article first appeared in The Edge Financial Daily, on August 8, 2014.
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