Upcoming launches

An estimated RM1 billion worth of Selangor State Development Corporation (PKNS) homes will be offered for sale this year. A series of home ownership campaigns introduced since February has shown encouraging sales. The next campaign will begin this month in conjunction with the state development arm’s 45th anniversary, offering some RM400 million worth of properties, says PKNS general manager Othman Omar.

The overall success will only be known at the end of the year while to date, some RM162.2 million in sales have been achieved from these campaigns.

PKNS’ line-up of coming launches include some 300 units of SoHo and serviced apartments with a GDV of RM70 million at the Selangor Science Park 2 (SSP2) in Dengkil, adjacent to Cyberjaya. This is the fi rst of three 18-storey towers on a 10.65-acre site to be launched. Unit sizes range from 533 to 1,034 sq ft. Amenities include an infi nity pool, gym and playground.

“There is demand for such apartments among the estimated 10,000 student population in Cyberjaya. We have also received a lot of requests to build hostels and colleges,” says Othman.

SSP2 is a 1,200-acre fully integrated technology hub with industrial lots and commercial and residential components modelled after the Selangor Science Park 1 development in Kota Damansara.

With an expected GDV of RM3 billion, the development is broadband and infrastructureready, with RM500 million spent on infrastructure to date. About 600 acres are industrial infrastructure-ready. Some 20% of the project is dedicated to landscaping.

The residential enclave will offer affordable homes, condos and landed homes, including lakefront villas and bungalows. Amenities include a clubhouse, community centres, a transport hub-cum-logistics centre, proposed international school, landscape and water parks.

“We are now more market-driven so if there is more demand for commercial and residential areas, we may increase these two components based on demand,” says Othman. PKNS is currently working out a partnership with Ascendas of Singapore with regard to some of the industrial and commercial plots in SSP2.

Other interested investors — both local and foreign — include colleges, universities, hospitals and even a Korean water theme park. German solar panel manufacturer Q-Cells is the pioneer industrial tenant.



This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 766, Aug 3-9, 2009.