Gema Padu to develop RM1.5b worth of properties in 4 years

KUALA LUMPUR: Gema Padu Sdn Bhd — the developer of Kota Warisan in Sepang, Selangor — is targeting to launch a new development in the township with a gross development value of RM1.5 billion in the next four years.

The new development spanning 138 acres would be an "exciting" development consisting of both residential and commercial properties, said Gema Padu director Lee Kuan Yong.

He believes the development would see good demand due to its strategic location adjacent to the Salak Tinggi Express Rail Link (ERL) station five minutes walk away and its accessibility via major road networks such as the Maju Expressway, North-South Highway, ELITE, LDP and South Klang Valley Expressway.

"It (the development) sits along the important KL-Putrajaya-Cyberjaya-KLIA Corridor. It is a seven-minute train ride to and from the fast growing Kuala Lumpur International Airport (KLIA) area," he said, adding that KLIA is rapidly expanding along with the upcoming KLIA2 to cater for 70 million passengers per year.

Gema Padu is the developer of the 600-acre Kota Warisan township. About 350 acres of the township have been developed since 1997, with over 4,000 residential and commercial units delivered so far.

Lee says another remaining 112 acres would be developed after the 138-acre project has been completed, and that would take an additional four years.

"The remaining land would be developed into high-value commercial development, as it is located next to the highway connecting Putrajaya and Kuala Lumpur. By that time, the population would have increased," he added. Kota Warisan would be fully developed in eight years time.

The developers are targeting airport and airline staff as well as retailers at KLIA and at the low cost carrier terminal, the working population from Cyberjaya and government officers from Putrajaya, as its buyers. "Buyers from Kuala Lumpur should also consider properties here as accessibility and public transportation is not a problem," he added.

Meanwhile, on Gema Padu's latest offering of serviced apartment project Warisan Heights, Lee said it has been conceptualised to facilitate the lifestyle of busy professionals and civil servants who seek affordable yet conveniently accessible home ownership.

Warisan Heights has a GDV of RM180 million comprising four blocks namely Paris, Boston, Sydney and Shanghai offering 1,000 units with built-ups ranging from 765 sq ft for a 1-bedroom studio to 1,022 sq ft for a 3-bedroom unit. Prices range from RM180,000 to RM300,000. The development is also equipped with 24 hours security and individual access card

During the preview on Jan 15 and 16, one block was open for registration. The official launch date for the remaining tower has yet to be determined.

The development sits on eight acres of leasehold land and is scheduled for completion by 2014.

Warisan Heights also offers 200,000 sq ft of retail space for shopping, eateries, hair salon and ample parking lots. Other facilities include a swimming pool and wading pool, tennis and squash courts, a kindergarten, a playground, a gymnasium, a spa, a multi-purpose hall and a fitness centre.