SunCity's V Residence apartments 60% sold

KUALA LUMPUR: Sunway City Bhd's (SunCity) V Residence has seen a take-up rate of 60% since its launch last Saturday, July 16.

With a gross development value (GDV) of RM300 million, V Residence is the residential segment of Sunway Velocity featuring 18 storeys of 264 serviced apartments slated for completion in2014.

The RM3 billion Sunway Velocity is a joint-venture mixed development between landowner Fawanis Sdn Bhd and SunCity, on 22 acres of commercial freehold land. It will comprise shops, office suites, serviced apartments, a shopping mall, office towers, hotels and shop offices, to be developed over three phases.

Sizes for its typical units ranges from 915 sq ft to 1,728 sq ft and its duplex units ranges from 1,884 sq ft to 2,368 sq ft. Its typical units will offer 11 designs, while its duplex units will have 10 designs. Its prices range from RM800,000 to RM2,653,000 with an average selling price of RM850 psf and a maintenance fee of about 40 sen psf.

According to SunCity managing director of property development (Malaysia) Ho Hon Sang, V Residence is targeted at local and international property investors, upper middle income groups that pursue modern lifestyle living, upgraders inside and outside the vicinities, and parents buying for children

Ho said Sunway Velocity was designed to allow residents to experience a contemporary lifestyle where they can live, work, shop and relax in one destination.

"This is made possible as retail and commercial spaces have been designed to integrate harmoniously together. More importantly, Sunway with its good track record and management expertise will be managing the shopping mall and the entire project," said Ho.

Phase 3 comprising retail shops and office suites will be launched next.