Sime Darby aims 50% take-up rate for newly launched SJCC apartment by June

This property aims to attract single professionals from the age group of 40 and below

By IZZAT RATNA /Pic By TMR

Sime Darby Property Bhd targets about 50% take-up rate for its RM269.2 million newly launched Lot 15 Subang Jaya City Centre (SJCC) serviced apartment by June next year.

Chief operation and transformation officer Datuk Wan Hashimi Albakri Wan Ahmad Amin Jaffri said the construction works for the project is slated for completion by 2021, with expected construction works to begin in February 2018.

“Based on our studies, we are aiming to capture young single professionals from the age group of 40 and below, as well as investors within the urban affluent segment.

“We also believe that single female professionals are among the prospective buyers for Lot 15, supported by their strong earnings and purchasing power,” he told reporters at the launching ceremony in Subang Jaya yesterday.

Wan Hashimi said 40% of the buyers profile would be investors, while the remaining 60% would be owner occupier, with a mix profile of locals and foreigners.

“In addition, the average monthly rental yield of between RM3,000 and RM3,500 within the region is also one of the driving factors to attract more investors to come in, supported by Subang Jaya’s strategic location,” he explained.

In the future, Wan Hashimi said the company would remain focus on landed residential developments, coupled with affordable housing that is below the RM1 million brackets following an intense demand from the market for this segment.

He believes property players that focus on integrated transit-oriented or high-rise developments will have the hard time to sustain healthy turnover in the future, as the excess stocks in the market currently are premium condominiums and apartments.

“The excess stocks in the market right now are valued between RM12 billion and RM13 billion,” he said.

At present, Sime Darby Property’s landbank stands at 8,093ha, predominantly located within the central region with an estimated gross development value of RM118 billion.

Lot 15 is a serviced apartment comprising two 20-storey residential towers with a total of 361 residential units and three level of retail units, which covers an approximately 0.91ha of land.

The development is part of the RM1.5 billion SJCC integrated development, spanning across 6.88ha of land.

Lot 15 residential units are priced between RM593,888 and RM1.01 million before Bumiputera discount and 5% sales rebate, with built-up areas from 57.91 sq m to 92.99 sq m and unit types ranging from 1+1 to 2+1 bedrooms.