Last weekend was a busy weekend for many investors as there were so many launches in Klang Valley. One of the most HOT HOT HOT launches was EcoSky by newbie EcoWorld (not exactly new if you see their management team :P). We are glad to have PropCafe’s first GUEST EDITOR – Tengster to cover this exciting project.
This almost rectangular-ish integrated mixed-use development has been designed as a 360° lifestyle hub for the vibrant and mobile community. Retail, Office and Residence is EcoSky’s tagline whereby EcoWorld comes with a motto ‘Creating Tomorrow & Beyond’.
EcoSky’s retail promenade is made up of 35-nos 4-storey retail lots that could accommodate a wide range of shopping, dining and entertainment choices.
The F&B outlets are situated next to The Centre where the water features (including cascading water effects and shallow pool) to allow Al fresco dining.
EcoSky’s office pod offers like 40,000 sq.ft office space in a stand alone signature building fronting Jalan Kuching. (At present, very little information on office pod).
EcoSky’s high-rise residential offerings comprise well-designed units that range from 861 sq. ft. to 1227 sq. ft. Residents will enjoy three levels of exclusive facilities – The Club (at level 7 that shared by all three block residents) for sports and open-air activities including a 50m lap pool, fun island pool and children’s water play area; The Pavilion (located at 20+ floors), a garden lounge for creative endeavours; and The Peak (located at rooftop), a penthouse club for socialising and entertainment.
How does the site look like? Bird eye view from PPR Taman Wahyu (courtesy from a LYN member – permission obtained to publish this). Can see KL skylight at night and also the lake…..
Below are the vital information:
Developer : Eco Sky Development Sdn. Bhd. (1001417-M) (formerly known as Summer Nights Sdn. Bhd.)
Address: Lot 3972 & 4189, Batu 6 ½ , Jalan Ipoh, 68100 Kuala Lumpur, Malaysia.
Contact: T +603-6251 2255 F +603-6251 2552
Email: ecosky@ecoworld.my
GPS Coordinates: +3° 13′ 8.77″, +101° 40′ 15.32″
Landsize – 9.5 acres
Tenure: Freehold
Project components: 3 blocks service apartment (namely 39-storey Aurora, 39-storey Basalta & 40-storey Clarita), 35-nos 4-storey retail office building, signature building namely The Office Pod and 30+k sqft park with controlled accesses.
Location
This project is located at off Jalan Kuching (see below map). Technically, it is under Kuala Lumpur territory. However, the postcode maybe 68100 which is similar to Taman Wahyu And Kip Park. Actual site is located north of Taman Wahyu i.e. immediately south of Tesco Extra. The site is about 9 km from KLCC.
What are located adjacent?
1. Tesco Extra – next door
2. Kommuter Station is located about 450 meter away. Covered walkway will be constructed by developer. DBKL approval to be obtained soon. Walking time is about 5-6 meter. Kommuter reliability is improving from time to time. Typically, from Taman Wahyu station to KL Sentral is about 25 minutes. See below for timetable.
3. Brem Mall & Crystal Crown Hotel – about 3 km away
4. Giant Batu Caves – 2 km away
5. Batu Caves – 1 km away
6. Schools are SJKC Mun Choong, SMK Dato Ibrahim Yaacob, SK Seri Delima, SJKC Kheow Bin (at Batu Caves), SMJ Jinjang (this is one of the top school in KL), SMk Perempuan Jalan Ipoh, Chung Hwa Independent School (at Jalan Ipoh Batu 3), etc.
7. Parks – Kepong Metropolitan Park (3 km away), Mastiara Metropolitan Park (3km away)
Kommuter timetable is as below. If too small to see, goto their website
http://www.ktmkomuter.com.my/tickets/ticket_doc/Batu%20Caves%20-%20Pel%20Klang-14052012.xls
Immediately east side of EcoSky is where the PPR Taman Wahyu are located. PPR Taman Wahyu consists of 3 blocks in which each block is about 15 storey. There are several rows of link factory lots located at south side of EcoSky where they operate as spray painting workshop, car workshop., chop-chop shop, light manufacturing facilities, Proton and Perodua showroom, tiles warehouse, etc. Tesco is then location on the north side.
Land Tenure
Surprisingly, this plot of land is actually FREHOLD LAND. The land was purchased from DRB-Hicom Berhad for RM69.92 million. This Bursa announcement clearly shown that the land is indeed FREEHOLD.
I was initially very skeptical. I know for a fact that the adjacent areas such as Taman Wahyu, Taman Tasik Indah, Taman Mastiara, KiPark Sri Utara (all 4 phases), etc. Maybe it’s a situation I called it ‘seeing is believing’.
http://www.bursamalaysia.com/market/listed…cements/1249753
EcoSky’s Retail Promenade
EcoSky’s retail promenade is basically an improved and smaller version of SetiaWalk Puchong (SWP). I will explain on the improvement portion but I need to put up a disclaimer that the below improvements are by no means to discredit the features of SWP. There are purely lesson learnt from their experience in executing SWP.
1. The needs of reserved carpark lots for those frontal commercial lots to attract banks
2. Tenant selection criteria with good mix to complement each other
3. Tenant control via lease-back program
4. Separate access for commercial and residential. Commercial area carpark is located at LG floor while residential is located separately.
5. Much broader view of available shops if one standing at the cascading water feature areas as the layout is planned in such way. ‘One eye can see all’ is the description.
6. The need of having an iconic or signature building in commercial area. This is referring to EcoSky’s office Pod that offers as much as 40,000sq.ft office area.
7. Extended verandah at first floor commercial areas to facilitate of Al fresco concept. Adequate width enable setting up of tables. IMHO, this one is excellent. Certain part of Publika had this too.
8. Proper loading bays for retailers.
According to lil bird, the indicative price is RM4.5 million to RM6.0 million on enbloc basis. Some SA said all these have been sold and some SA seems to be unable to give firm answer at all. As of now, it should be taken as NONE available for sale.
EcoSky’s Residential
There are three blocks in EcoSky. Below are the details:
1. Aurora Tower – 39-storey with 10 units per floor.
2. Basalta Tower – 39-storey with 12 units per floor
3. Clarita Tower – To be announced with improved layout and price
All the three blocks are sitting on carpark podium. Basically Aurora means natural light display aka Block A to layman while Basalta is volcanic rock i.e. Block B. Block C is Clarita which mean clarity. Reminding you to see carefully and don’t drop spectacle again.
Sizes – ranging from 861sq.ft to 1227sqft
Layout – Type A1 – 1227 sq.ft, Type B2 – 1109 sq.ft, Type C2 – 1055 sq.ft, Type D1 & D3 – 901 sq.ft and 926 sq.ft respectively. Layout A, B and C are basically 3 rooms with 2 bathrooms and come with 2 carpark while type D
Concept – The roof is structured base on rain concept as EcoSky is uniquely located in between several lakes. Those roofs are luckily pointing up and not at anyone else. These buildings will have triple certifications i.e. GBI, BCA greenmark and Leed. Typically, such certification comes with higher construction of about 3-5% and renewing the license will require fees too. Details could be read from the link http://www.greenbuildingindex.org/why-green-buildings.html or google for more.
Facilities – The Club (at level 7 that shared by all three block residents) for sports and open-air activities including a 50m lap pool, fun island pool and children’s water play area, triple volum gymnasium (6000sq.ft), playground, etc; The Pavilion (at 20+ floors) – a garden lounge with double volume and The Peak (at rooftop) – a penthouse club. There are also two connecting and secured bridges to commercial area via Level 7. At The Club, there is also proper business lounge in which business could be conducted. They do have proper business function room to house quite small to mid size audience for power point presentation or training.
Maintenance cost – Expected to be 40cent PSF. I am curious and equally annoyed of such high maintenance cost. Some of the MK condos are charging like 30-35c PSF while reportedly this Flexus is charging 44c PSF. Still curious. One of the reasons could be attributed by the triple green certification i.e. GBI, BCA greenmark and Leed. Renewals of such licenses don’t come cheap. It may whack up to 5-6 cent PSF easily. To maintain the green will need extra cost as well. I tried to ask the SA, it seems the answer is that ‘they will be working on the cost again though they know 40c PSF is on the high side’.
Access & Security – There is 4-tier security for the residential. Access is pretty much separated from commercial.
Green – There is a 30,000 sq.ft park located at the north east side of EcoSky site. The park is fenced up with secured accesses (two only nearby commercial area).
Lift – There are 5 lifts plus one service lift.
Prices – I cant get to memorize the pricing. It is about 648K PSF after discount onward. This is good for the D3 unit facing west. Floor incremental is RM2K except Level17 18 is RM3k. Not sure about SkyGarden Floor. No premium pricing on number 8. PSF for type A (1227sqft) is marginally lower than others. Another example is #15-08 is a type B with 1109sq.ft. Price is 748K (i.e. 675PSF). Work backward to Level 8. Price is 734K (662PSF). These prices are before discount.
Current offering :
– 3% early bird special
– Free legal fees on Sales & Purchase Agreement (SPA) and loan agreement plus loan stamp duty
– Developer Interest Bearing scheme (DIBS)
– Booking/Reserved fee is RM10,000. The 10% balance minus early bird rebate and booking fee can be paid via credit card that comes with interest free instalments (limited to participating banks only)
– semi furnished package (covers kitchen cabinet, hob and hood, microwave, refrigerator, air condition units for rooms). Electrical appliances are Electrolux while AC are York. There is also hot water system (but not displayed in show units at present)
Bottom line
This integrated development heavily count on the deliverable of the concept by ex-SP Setia team. At RM650PSF onwards, it is not cheap neither it is too expensive considering Kiara East 2.0 prices their products at 700+ PSF, Flexus Signature Suite at 700PSF (with 10% early bird discount & 44c PSF for maintenance) while Lakeville by MahSing put indicative pricing of close to 700PSF. We should know by now, historically MahSing can price higher than indicative subject to responses.
Registration of number, selection of unit process and others went well without any unwanted incident. All units in Basalta SOLD OUT at press time (I mean project review writing time at 6pm 22nd September).
A little joke – If one can’t get this ECO-Sky or get balloted for ECO-Botanic, you may try wallop Empat ECOr. Their number is always 2255.
Who is Eco World?
Eco World was incorporated as a private limited company in Malaysia on 29 December 2011. Eco World has an authorised, issued and paid-up share capital of RM50,000,000 comprising 50,000,000 ordinary shares of RM1.00 each. The principal business activities of Eco World are development, construction and investment.
Additional information, please click below links:
http://ecoworld.my/
Recent news about Ecoworld and Focal Aims
http://www.theedgemalaysia.com/in-the-edge-financial-daily-today/254891-ecoworld-offers-rm140-for-focal-aims.html
http://www.theedgemalaysia.com/business-news/255066-investors-may-want-to-stay-in-focal-aims.html
Again, thanks to our Guest Editor – Mr. Tengster!