KUALA LUMPUR: Tan & Tan Developments Bhd has launched the 7.88 acre (3.2ha) Park Manor in its Sierramas residential enclave in Sungai Buloh, Selangor on Dec 15.
Park Manor, which has a gross development value (GDV) of RM180 million, comprises 41 3-storey villas with built-ups ranging from 5,000 sq ft to 7,000 sq ft. The villas are priced between RM4 million and RM5.2 million, and are expected to be completed by end-2015.
“We believe that there are significant opportunities for the Sungai Buloh area. With the development of Kwasa Damansara and the (proposed) mass rapid transit (MRT) station, we expect to see greater interest in the area as accessibility to it increases,” said Tan & Tan executive director Teh Boon Ghee.
Kwasa Damansara is developed by Kwasa Land Sdn Bhd, a wholly-owned subsidiary of the Employees Provident Fund.
The villas have five to six bedrooms and six to seven washrooms, with kitchen and dining areas at the ground floor and an internal lift. The internal lift fits four with a maximum capacity of 300kg. The bathrooms are designed with gentle slopes, allowing wheelchair access.
“We expect to see strong interest from local buyers and residents in the Sungai Buloh vicinity,” said Tan & Tan head of sales and marketing Fern Chong.
Among the nearby amenities are an international school, convenient stores, a 1km jogging path and a clubhouse. The clubhouse features a 25m lap pool, wading pool, a playground, and a function room that accommodates 40.
“Over the years, Sierramas has become a niche for luxury homes and continues to be one of the most sought after addresses in the vicinity. We believe that with it being the first stop along MRT Line 1, access to the community will be greatly enhanced, allowing residents even greater access to retail and commercial developments car free,” said Teh.
Tan & Tan has land bank of 1,550 acres worth RM5 billion GDV throughout Malaysia. Among its future launches are Damai Residence in Desa Pandan, Damai 15 in Jalan Damai and Stonor 3 in Lorong Stonor, Kuala Lumpur.
Damai Residence has a GDV of RM62 million and comprises one block of 30 condominium units and a penthouse. The prices range from RM1.9 million to RM4.35 million with built-ups between 1,938 sq ft and 3,961 sq ft. It’s expected to be launched in the first quarter of 2015 (1Q15) and scheduled for completion by December 2017.
Damai 15, which is located near the Damai light rapid transit station, comprises four semi-detached villas with built-ups of between 4,000 sq ft and 4,500 sq ft. It has an estimated GDV of RM20 million, and scheduled for completion by March 2015.
The Stonor 3 comprises one block of 400 serviced apartments with built-ups ranging from 688 sq ft to 1,313 sq ft. The indicative selling price is from RM1.1 million onwards. It is expected to be launched in 3Q15 and scheduled for completion in 2018.
With much uncertainty on the horizon in the property market, Teh said, “Two key factors will largely drive the direction of the property sector in 2015 — the introduction of the goods and services tax as well as lower oil prices. These factors will inevitably lead to greater caution among both developers and purchasers, impacting their evaluation of any future investments made.”
This article first appeared in The Edge Financial Daily, on December 19, 2014.
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