Sunway to launch RM226 mil project in Bangi in 1Q2016

Sunway Property Bhd will be launching its newest integrated development, Sunway Gandaria, in Bandar Baru Bangi in the first quarter of 2016. The project comprises retail shops and a block of serviced apartments, and will stand as the tallest landmark within the vicinity upon its completion.

“Sunway Gandaria will be the choice development for first-time owners, upgraders and business owners who demand value while capitalising on the growing expansion of the Southern Klang Valley development corridor as an optimal business and residential hub,” said Sunway property development division executive director Ang Kee Ping (pictured).

Sunway previewed the development for the media in its sales gallery in Bandar Baru Bangi today.

Slated for completion by 1Q2020, the 2.04-acre mixed-development has an estimated gross development value of RM226 million, with RM51 million coming from the 34 units of retail outlets and RM175 million from the 259-unit residence tower. Built-ups for the retail units range from 984 sq ft to 6,231 sq ft while the residences range from 951 sq ft to 1,410 sq ft. Retail units are priced from RM1 million to RM3 million and the residences from RM550,000 to RM750,000.

Sunway Gandaria retail outlets are expected to benefit from 1,000 residents within the development itself as well as more than 500,000 from the surrounding areas of Bangi, Kajang and Nilai, which include students, residents as well as employees of multinational corporations.

“We are aiming for a demographic more skewed towards owner-occupiers, but we’re open to investors as well,” Ang stated. “The property market is definitely soft, but we’re remaining optimistic in regards to sales.”

The residences will have a number of facilities including a 50m lap pool, a gym overlooking the pool, and round-the-clock three-tier security. There is also a range of amenities nearby such as schools and universities, financial institutions, shopping malls, the Cempaka Lake Gardens and the Bangi Golf course.

“To make it even easier for potential homeowners, investors and businesses to gain value from the development and be a part of this exciting community, we will provide Easy Ownership Packages during its launch,” Ang said, adding that packages would entail low down payments and deferred payments for investors.

The development will be accessible via major highways such as the KL-Seremban Highway, the Silk Highway, the New Klang Valley Expressway (NKVE), the South Klang Valley Expressway (SKVE), and Cheras-Kajang Expressway. Its proximity to the Mass Rapid Transit (MRT) Line 1’s Kajang station (expected to be operational by 2017) and the proposed MRT Line 2’s Putrajaya station will also assist in connectivity.

Sunway Property is the property division of Sunway Group and has a portfolio that extends to China, India, Cambodia, Vietnam and Singapore. - By Ewe Shufei / theedgeproperty.com