The property developer will launch the 1st phase by the 2nd half of November this year
by S BIRRUNTHA
UEM Sunrise Bhd is eyeing a 60% take-up rate for the first phase of its latest mixed development project, Kiara Bay in Kepong.
Its MD and CEO Anwar Syahrin Abdul Ajib said the property developer will launch the first phase by the second half of November this year.
The entire project, which has a total gross development value of RM15 billion, is divided into 15 phases, with the first phase comprising 870 units.
The company, which developed the Mont Kiara township, will ramp up the roll-outs if traction is good, Anwar Syahrin added.
“At this point in time, we are very conservative given the market situation. I hope everything goes according to our plan and we will be getting the advertising permit and developer’s licence for the first phase of Kiara Bay very soon,” Anwar Syahrin told reporters after the unveiling of the Kiara Bay master plan in Kepong yesterday.
The company is planning to launch an average of 1,000 units every two years for the area.
“We will do one (launch) this year and next year we will clear the stocks. We will launch another phase in 2021 with another 1,000 units.
“That’s the planning we have at the moment. Our timeline for this project for full completion is 2039, which is about 20 years from now,” Anwar Syahrin added.
The first phase of Kiara Bay has been competitively priced as the group is “not going to be too aggressive on trying to maximise the price”.
The integrated township comprises a 73-acre (29.54ha) mixed development that houses residential units and commercial spaces.
The first phase consists of 870 residential units with built-up areas ranging from 800 to 1,250 sq ft priced between RM600,000 and RM900,000.
Other amenities and facilities such as swimming pools, gym, sky deck are also included in the initial launch.
The full completion of the phase is targeted for the fourth quarter of 2023. UEM Sunrise will undertake the building process together with its joint-venture partner, Melati Ehsan Holdings Bhd.
According to the master plan, Kiara Bay will comprise residential units, retail malls, office spaces, hotels, healthcare centres and education hubs.
The township is connected to several highways and main roads such as the Kuala Lumpur Middle Ring Road 2 (MRR2), Damansara-Puchong Expressway, Duta-Ulu Kelang Expressway, Jalan Kuching and Jalan Kepong.
There will also be two new interchanges providing direct access from MRR2 into Kiara Bay.
Two Mass Rapid Transit Line 2 (MRT2) stations, namely Kepong Baru and Jinjang — scheduled to be operational by 2021 — will be the closest MRT points to Kiara Bay.