PROPCAFE Peek : LakeFront Residence @ Cyberjaya By MCT

Yet another new launch in Malaysia’s own Silicone Valley – Cyberjaya.  This is perhaps the mass market that everyone’s hoping to cater for, total units from the whole development to number over 2000; bringing in potentially 10,000 new population to the area.

 

This is a development totals 23 acres, and is located opposite SP Setia’s Ecoglades development – out of which only 2.67 acres will be used for development purpose, and balance to be the greens and common facilities. It’s made up of :

Lake Front Homes  (affordable housing ? , pr1ma ?)

Lake Front Residence (condo 8 towers of about 300 units per tower)

Lake Front Villa – bungalows and zero lots

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Lake Front residence is the condo project on the top right, Lake Front homes, the affordable apartments on the left side of the lake. Left most of the picture show the 2 schools to be built.

 

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The initial launches will be the 2 dark towers above

 

 

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MCT will be launching the Tower 1 of its Lake Front Residences anytime now.

This is a freehold development, comprises 8 towers, and all sharing common facilities such as : jogging track, swimming pool, wading pool, club house, fitness center multi purpose hall, full length basketball court, bistro, laundrettem water playground, aze garden, roof top garden and 300m long linear park.

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For the initial launch, the units are sized from 1390sf, and all coming with 2 car parks , maintenance is kept at RM0.20psf.  Cheap ? Bear in mind there are over 2000 units, hence a need to keep the maintenance cheap to pacify everyone.

For tower 1, the price is expected to start form around RM420psf upwards (after discount).

Launching price is from RM690k upwards, before discount.  There will be 15% discount for buyers (but the discount will be set off from the 4th billing onwards), and balance of 10% to be settled upfront upon signing of the SPA.  Booking fee is RM20,000  10% upfront is hefty ? Then you can opt for the second plan, which is only putting in upfront of 5%, but at a reduced discount of only 13% instead of 15%  Buyers who get the 15% discount, will also enjoy 3 years of free maintenance, whilst buyers who opt for the 13% discount, will get 1 year free maintenance.  Price is Rm500 each incremental floor, which means the lowest and highest floors have only a difference of RM20,000 = quite unheard of these days, as some projects have incremental price difference of RM5000 per floor!

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Nice layout, with 2 of the rooms having views, and an airy wet kitchen.

 

Estimated completion date of the project (Tower 1) is June 2017

 

The units come with :

–       kitchen cabinets in the dry and wet kitchen

–       wardrobe in the master bedroom

–       5 air cond units

–       shoe rack

–       plaster ceiling and downlights

 

This is the first of 8 towers to be launched,  so there could be potential for appreciation in price.  The development opposite the lake, the Lakefront Homes, will most likely be part of the government’s PR1MA project.  In the master plan, there is already an SRJK Union in place, and land catered to a sekolah kebangsaan nearby.

The lake in between will be maintained by the Majslis Perbandaran Sepang.

 

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What’s our take ?

Well everyone’s been talking about Cyberjaya lacking of mass market developments, most of the projects being studios, student accomodations, etc  This seems to be the most ‘livable’ type of project, together with Verdi and Cristal. Looks like ‘mass market’ standard is RM400psf upwards, for the intelligent city.  Lakefront’s not a bad project, it has the schools working for its benefit – as it is within its vicinity.  If you are those that can qualify for LTV90%, there’s even a possibility of cash back – at a later on stage.  Crunch the number guys, you are looking at loans of easily RM 2500+ per month, manageable for a dual income family.  Perhaps manageable for an expat family who works in the intelligent city.  Entry is key, this particular MCT’s project surprisingly, isn’t as easy entry as Cristal or Verdi. But that depends, some people prefer projects which doesn not cater to speculators, some just do not care, and go for whichever easiest entry project.  Which are you ? Own stay or investor ? With the winds of change from BNM blowing, there seems to be dark clouds in the horizon, what’s your take on all these ?

 

Other Cyberjaya launches in the works :

UEM Land’s Verdi eco condominium

– 800 units from RM570psf upwards before 8% + 2% discount , from 700sf upwards

Villamas’ Cristal condominium

– 350 units from RM480psf upwards before 10% + 55 discount, buildup from 1300fsf upwards

 

21 Replies to “PROPCAFE Peek : LakeFront Residence @ Cyberjaya By MCT”

  1. For a rather high densed condo n lannded project w pr1ma on opposite, the lake is a bit small for the entirity of these development.
    And the high selling price doesnt gel well w this project.

  2. my god…. 300 units per tower and 8 tower = 2400 units in this small piece of land……

  3. Caffe Corretto says: Reply

    I think it ll b very difficult to sell. Pricing n density…moon n star not aligned.

  4. There’s just so many development in Cyber now that we are spoilt for choices. I’ll rather choose developments which are less dense and more quality of life. That’s why we get away from the city. Why choose something exactly like those found in the crowded areas. For me, with this kind of pricing… go look at GR, SG, Mirage, or even dan lain lain before deciding.

    Condo is over supply in Cyber. How many of these are true occupancy? Look at those completed properties in the past 2 years to asses. You will see whether really we got that much people to fill up the condos.

    I really start to worry now. With Shaftbury Square’s 3-4 high-rise completed and D’pulze’s development set to complete soon, Symphony Hill’s high-rise as well. How many of these will be filled with actual tenants? The council seriously need to look before approving anymore high-rise at risk of the high-rise property crashing.

  5. Hi good day. MCT now is open register for Lakefront@Cyberjaya.

    It is a perfect condominium. A cozy environment complemented by lush landscaping and a contemporary style clubhouse.

    Any enquiry, please do not hesitate to contact me.

    Best regards,
    Adam Hiew
    MCT Consortium Berhad
    adam@mct.com.my
    +6016-9349328

    1. Caffe Corretto says: Reply

      Instead of merely advertise here, we would appreciate if you can share more info like the package n pricing etc here. If not, we ll treat it as spam in future. Hope you understand. I m sure everyone like to know more info abt ur proj. Cheers.

  6. Any take or info/pricing on LakeFront Villa? Hoping the get a reasonable landed property in cyber.

  7. High density with high selling price, the sales strategy is not correct.
    It’s just another greedy developer who wants to grind max $$$ from buyers.

  8. very true.. it’s just another greedy developer want to grind max @@@ from buyers..if I am paying this high price, wouldn’t it makes more sense for me to get a lower density area, in other part of Cyberjaya, example Garden Residence or Mirage by the lake?
    Because of this high density development, it makes the adjacent residential Setia Eco Glades and Symphony Hill less exclusive.

    1. Caffe Corretto says: Reply

      Ashley, sorry i have deleted your same comments that repeated in other threads. Yes lakefront looks densed but to say the whole area nearby is highly densed then we need to add up whole area land size. SH n SEG r not near to each other. SEG has much bigger land. You r abs right on the population here especially to consider the mmu student n future osk projs…it ll be the most populated area in cyberjaya or other may view it as the most “wong” area as all amenities like chinese school, malls, healthcare center, parks, etc ll be here. It is a matter of choice. Some dont like ghost town i.e. go out all no human traffic but other dont like too crowded too. Btw, cyberjaya mana ada crowds so far…all lands there. Ppls worries ghost town more than too crowded.

  9. According to MCT,the demand is more than supply using the forecast of working population in 5 years time

  10. so the Lake front area and OSK project at Persiaran Bestari will make the place more populate with activities. Paramount project is also nearby.

  11. There are selling tower 2 now they still have some leftover for tower 1 as being told. Am thinking it is a good buy looking at its completion date by 2018. 4 years down the road. If not “wong” then really no luck lo. The concept is nice with lots of green. Just my 2 cents

  12. How may units is there for tower 1?

    1. tower 1 : 304units

      1. I just confirm a unit at tower 2…for future own stay or rent out

  13. […] 2 blocks just launched in 2014) , as covered by Propcafe 1 ½ years ago – Lakefront Residence (http://propcafe.net/lakefront-residence-cyberjaya-mct/).  These Lakefront Residences are marketed as higher end units, although starting from around […]

  14. hello everyone! greetings! am newbie in investing in properties and was hoping for some advice. ald have a prop in cyber (for own stay), wondering if good idea to get another? Interested in lake front residence. thank you so much in advance!

  15. […] LakeFront Residence @ Cyberjaya – PropCafe.Net – Yet another new launch in Malaysia’s own Silicone Valley – Cyberjaya. This is perhaps the mass market that everyone’s hoping to cater for, total units from the … […]

  16. Tower 1, 2, 3 in total 95% sold out. i just only bought a unit in tower 4(facing lake). 950s.f. floor below penthouse. RM 573k. High dense condo comes with lots of facilities and the maintenance fees also so cheap Rm 0.20. Low dense condo, yes less crowded but you paying high maintenance fee for limited facilities.

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