IOI to launch Enigma Square in Bangi

IOI Properties Group Bhd will launch its next commercial offering Enigma Square in its new 370-acre township Bandar Puteri Bangi in January next year, said IOI Properties chief operations officer Teh Chin Guan (pictured) at the groundbreaking ceremony of Tesco Bandar Puteri Bangi today.

“Enigma Square has gross development value of about RM200 million and will comprise 93 units of 3-storey and 4-storey shop-offices. It is the second commercial development in the township after Kubica Square, which also comprises 3-storey and 4-storey shop-offices and are 90% taken up,” Teh said.

Enigma Square’s 3-storey shop-offices have a built-up area of 5,280 sq ft and are priced at RM1,558,000 each, and the 4-storey shops are RM2,198,000 each and have a built-up area of 7,040 sq ft.

To be located 500m from Tesco Bandar Puteri Bangi, Enigma Square is expected to be completed by end-2017. Teh is hopeful the units will be fully taken up when Tesco store opens its doors in the first quarter of 2017 (1Q2017).

Sitting on 7.53 acres, Tesco Bandar Puteri Bangi will be the 56th store in Malaysia, and has a built-up area of 101,182 sq ft. It will offer Tesco Value, Choice, and Finest product ranges, as well as 4,000 house brand products, 90% of which are locally sourced.

In a press statement, IOI Properties says, “The presence of Tesco and Enigma Square will serve as the catalyst in transforming Bandar Puteri Bangi into the new commercial pulse of Southern KL Corridor.”

Bandar Puteri Bangi is a master planned freehold development that is intended as a major business and economic centre in the southern corridor of Klang Valley, which includes Kajang, Bangi, Semenyih and Nilai.

Located next to the North-South Expressway, the township has a current GDV of RM1 billion and was launched in January this year. To date, the other projects that have been launched in Bandar Puteri Bangi are Phase 1 and 2 of The Terresse superlink houses and Almyra Residence high-rise serviced apartments.

According to Teh, Phase 1 of The Terresse is fully sold, and Phase 2 which was launched recently is 60% taken up, while Almyra Residence is 68% sold.

Teh said IOI Properties will be launching some 600 townhouses in Bandar Puteri Bangi in 3Q2016 with GDV of about RM300 million. The entire township is expected to be completed in 10 years.

The groundbreaking ceremony of Tesco Bandar Puteri Bangi was officiated by Tesco Malaysia operations director Ian Kent, Tesco Malaysia property and mall director Jason Chong, IOI Properties CEO Lee Yeow Seng and Teh. - By Chai Yee Hoong / theedgeproperty.com