PETALING JAYA: Following a week-long preview, Bandar Utama Development Sdn Bhd, one of the country’s most established build-then-sell developers, officially launched the first phase of its only zero-lot bungalow development in Bandar Utama last Saturday.
The Effingham comprises a series of exclusive three-storey zero-lot bungalows on a freehold site. With a gross development value (GDV) of RM458 million, the first phase of the project covers an area of 32.28 acres.
During the preview, potential buyers had the opportunity to view and pick the units they were interested in.
To ensure fairness and transparency in the selection of units, sales were carried out via balloting last Saturday. By the end of the day, 70% of the first phase’s 90 available units were taken up.
The majority of the crowd which turned up on the day of the balloting was buying the bungalows for their own use. “We are currently living in a double-storey corner house in Taman Tun Dr Ismail, and are seeking to upgrade to a bungalow for our growing family,” said a buyer, who only wanted to be known as Sabrina.
Sabrina and her husband are professionals in their mid-30s who have also invested in other properties in Petaling Jaya. According to the couple, they were attracted to the location, accessibility and the amenities available in Bandar Utama.
Tan Sri Teo Soo Cheng, chairman of See Hoy Chan Holdings Group kicked off the balloting by drawing the first ballot form. See Hoy Chan, the developer of Bandar Utama, bought the 1,000-acre parcel of land on which the township now sits in the 1970s.
In an earlier interview with The Edge, Datuk Teo Chiang Hong, managing director of Bandar Utama Development Sdn Bhd (whose parent company is See Hoy Chan), said The Effingham is Bandar Utama’s only bungalow development, consisting of 212 exclusive units.
The entire development encompasses three phases, with the bungalows in the two remaining phases to be launched in batches of 50 or 60, he said, adding that the project was named after a former rubber and palm oil estate which was situated on the land Bandar Utama now occupies.
Chiang Hong said the project is targeted at high-income professionals and entrepreneurs who would be buying the property for residential purposes.
|Chiang Hong sorting out
the ballot forms during the
launch while Soo Cheng
The first phase is already completed and ready for moving in. There are nine unit types, with average built-up starting from 6,000 sq ft while prices are tagged at approximately RM800 psf. The maintenance cost is RM600 per month, regardless of the unit size.
The semi furnished units come with landscaping, water features and a barbeque pit. The developer has also included built-in wardrobes, kitchen cabinets and kitchen appliances such as washing machine, dryer, fridge, oven, cooker hood and gas hob.
Located along Persiaran Bukit Utama, on the border of Bandar Utama and Mutiara Damansara, the development stands out as one of the group’s most exclusive projects. High brick walls surround the gated and guarded enclave that boasts its own clubhouse complete with a swimming pool as well as an indoor and outdoor gym.
The Effingham is also located directly opposite the township’s clubhouse and golf course. It is adjacent to the mature neighbourhoods of BU 4 and BU 6, which consist of mainly double-storey terraced links. It is also within walking distance to 1 Utama Shopping Centre and The Curve.
As for the remaining undeveloped 35% of Bandar Utama, the developer has plans to put up a mix of commercial, residential and institutional developments. Its future plans also include a high tech park, as well as a do-it-yourself concept mall.
With Bandar Utama’s track record coupled with the lack of new landed residential launches in the vicinity, the developer is confident that prices will continue to appreciate in the near future.
Bandar Utama’s very first phase of double-storey terraced houses, which were launched at RM178,000 each, are now transacting for more than a million ringgit on the secondary market.
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