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Friday, January 7, 2011

Bungalow project to launch this month with only 21 units left

Spacious: The front of a Type A bungalow.

A DOUBLE-storey bungalow project known as Ukay Seraya in Ukay Heights will be launched this month when the show houses are ready.

Comprising 30 units, the project has obtained the relevant approvals and sits on freehold flatland.

The lot sizes average about 9,200 sq ft and the project is located less than 10 minutes from KLCC.

This bungalow development with perimeter security fencing comes in four designs with built up area ranging from 5,813 sq ft to 7,336 sq ft.

Type A has the biggest built up area of 7,336 sq ft. It has a covered car porch that can accommodate five to seven cars. The master bedroom suite is 1,056 sq ft in size and demarcated into a sitting area, bed area, walk-in-wardrobe and a bathroom.

The layout of the master bedroom also provides a working area.

Type A has eight rooms, seven baths and a powder room, two living areas, a dining area, dry and wet kitchens, three store rooms and an external garden toilet.

Type B generally has bigger land area ranging from 9,300 sq ft to 12,215 sq ft per lot. It has seven rooms, seven baths, a powder room, three store rooms and a garden toilet.

The project is developed by Long Island Properties Sdn Bhd, a member of the Long Island Group (LIG). The Long Island Group is a developer who has forayed in Australia, China and Malaysia.

“In the Ukay Seraya project, we have installed concealed piping and wiring for all essential items including air-cond ducting, phone and TV cables to all rooms, security alarm cabling to all windows and external doors and CCTV cabling. This will eliminate the need to hack the walls later. As a standard feature, we also install external sensor detector lights and solar heater delivering hot and cold water to all baths and the kitchen,” said LIG head Cheah Min Loong.

Another unique feature is the pre-approved swimming pool for Type A and Type B.

This meant that the purchaser has the option to build a private swimming pool immediately without having to seek the authorities’ approval.

The large land sizes allow the construction of pools up to 60 ft long. The swimming pool is an optional item.

Out of the 30 units of bungalow in the Ukay Seraya development, 18 units are Type A, six units are Type B and three units each for Type C and D.

The pre-launch sale prices range from RM3,601,000 to RM4,798,000 depending on the type and land size.

“The pre-launch prices were formulated more than one year ago. The sales price will be increased by about 8% after launching to defray a portion of the escalating material and labour costs which are beyond our control,” said Cheah.

Nine units have been snapped up so far.

“We believe the other units will be taken up in a short time due to factors of address, easy access, safe flatland, freehold and functional designs, attractive prices if you compare apple to apple with other similar developments in the vicinity,” he said.

By The Star

Sunway City launches RM500mil development

KUALA LUMPUR: Sunway City Bhd has launched its latest integrated mixed development – Sunway Nexis at Dataran Sunway, Petaling Jaya.

In a statement yesterday, the company said the development covered 5.83 acres with a gross development value of RM500mil. The development is being undertaken by Sunway Damansara Sdn Bhd.

Ho Hon Sang ... ‘Sunway Nexis is a complete lifestyle centre.’

Sunway City managing director of property development Ho Hon Sang said: “Sunway Nexis is a complete lifestyle centre encompassing leisure, entertainment, recreation and work facilities. Following the success of Sunway Giza, this development offers modern retail shops, office suites and SoHo with a promising potential for growth.”

The commercial development at Sunway Nexis comprises three-storey retail shops with sizes ranging from 4,133 sq ft to 8,718 sq ft and priced at RM4mil and above.

The 13-storey office suites range from 925 sq ft to 1,722 sq ft and are priced at more than RM700,000, while the 20-storey flexi office block range from 850 sq ft to 1,980 sq ft.

By Bernama

SP Setia stock to top RM6.58: OSK

SP Setia's share price is set to surpass OSK Research's current target price of RM6.58 and test its post-Asian crisis high, it said today.

In a previous report, the research house said there will be a coming super cycle with 1970s subtle baby boomers quest to buy trade-up homes, coinciding with the 1950s baby boomers eager search for real estate investment opportunities.

"Fuelled by the twin demand from these two groups of baby boomers, the upcoming boom in mid to high-end residential properties, particularly landed ones, promises to be more than just an ordinary upcycle," it said.

It said banks have been eager to fund and fuel the boom by encouraging the society and the financial system to leverage further and switch from traditional financing to more speculative financing.

"This has in turn created a sense of euphoria, which is fuelling the country's biggest residential real estate boom since the Asian financial crisis between 2009/2010 and 2012/2013," it said.

OSK Research had also revised its target price of RM6.58 to RM7.23 on the premise of an impending boom bigger than the 2007 upcycle, and has maintained its "Buy" call on the company.

Meanwhile, it said there may be inflows of foreign hot money to ride on the super cycle.

"While the stock's current valuation is nearing our target and is about to test the post-Asian crisis high of 3.1 times Price/Net Tangible Assets.

"Its latest foreign shareholding is a mere 25 per cent, which is a far cry from more than 40 per cent during the 2007 boom.

"Hence, there is a high possibility that the next wave of foreign hot money pouring into Malaysia to ride on the residential property "super cycle" may shove SP Setia's valuation to surpass even the peak level it attained in 2007," it added.

By Bernama