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
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.
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!
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.
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