SCP Property’s first build-then-sell SoHo project in Desa Sri Hartamas over 60% sold following official launch this month

• With a gross development value (GDV) of RM240 million, Societe is a 33-storey building comprising 280 small office home office (SoHo) units and 20 duplex SoHo units with built-ups ranging from 499 to 1,595 sq ft. Units are priced starting from RM537,300.

KUALA LUMPUR (July 26): SCP Property Services Sdn Bhd’s first build-then-sell project, Societe (pictured) in Desa Sri Hartamas, is more than 60% sold following its official launch on July 15. SCP Property is under the SCP Group, one of the largest car park operators in the country that ventured into property development in 2011.

With a gross development value (GDV) of RM240 million, Societe is a 33-storey building comprising 280 small office home office (SoHo) units and 20 duplex SoHo units with built-ups ranging from 499 to 1,595 sq ft. Units are priced starting from RM537,300.

According to SCP Property general manager Chuah Jin Teik in a press release on Tuesday (July 25), Societe is the tallest building in Desa Sri Hartamas and offers completed, fully furnished units. “The (build-then-sell, fully furnished concept) has received enthusiastic response from the market with more than 60% of the units sold, shortly after the project’s official launch. We anticipate the project will be completely sold out by the end of this year.”

Chuah added: “Of the [project’s GDV], the company only obtained 20% in bank financing, with the rest being self-financed. This showcases SCP’s robust financial resources and provides investors and buyers with absolute confidence in SCP.”

The property, which is equipped with a 24-hour multi-tier security system, will be managed by the developer in collaboration with Lyfehaus Hospitality Group Sdn Bhd to provide hospitality and management services to its landlords and residents including long-term and short-term leases.

“The advantage of building first then selling after completion is that buyers or investors can see and experience the units they have selected. After completing the purchase, they can immediately rent [the units] out and the rental income can [be used to] offset the [their] mortgage payment,” Chuah said.

Facilities at Societe are on the eighth and 30th floors of the building. The eight floor features the Indulgence Zone with an infinity pool, wading pool, children’s playland, “golfer’s paradise” and sky gazebo. The 30th floor comprises "Nurturing Spaces”, which offers fitness suites, a meditation area, co-working hub, digital creation room, content photography area and a sky lounge.

Societe also has five retail lots held by the developer on the ground floor, two of which will be home to Common Man Coffee Roasters, which will commence operation next month, according to the statement.

SCP Property senior project manager Lucas Wong said that the developer will ensure that the retail lots in the building are only leased to F&B tenants aimed at complementing the community at Societe.

“Societe is a carefully designed living experience for modern individuals. We take the responsibility to curate a specific combination of facilities to meet the modern demands...[and we] aim to make real estate investment effortless by offering professional property management services available at your doorstep,” Wong added.

Societe is located adjacent and within walking distance to the commercial centre of Desa Sri Hartamas, and enjoys connectivity via Penchala Link, Sprint Expressway, Duta-Ulu Kelang Expressway and the proposed Sri Hartamas MRT3 station.

Since 2011, SCP Group has completed and delivered more than 17 projects worth over RM5 billion in the Klang Valley and Sabah, with Societe, The Birch in Jalan Ipoh and Flora Residency in Setapak being its latest completions.

According to Chuah, SCP has strategically located development lands in mature areas in the Klang Valley and Kota Kinabalu. Its ongoing projects, including Societe, are Kensho Residence in Taman Desa Danau, Traders Park in Cheras Selatan, and Acacia Phase 2 in Menggatal, Kota Kinabalu, with a total combined GDV of over RM1.3 billion.

The company's upcoming property development projects are mainly high-rise residential in USJ 1 in Subang Jaya, Jalan Langkawi in Setapak, Jalan Gombak, as well as Acacia Phase 2 and M Capital in Menggatal, with a total combined GDV of more than RM2 billion.