Sterling Prima eyes March launch for Cyberjaya project:
http://www.nst.com.my/business/nation/ster...roject-1.486691RM1.2B GDV: Developer hopes to be the first to unveil affordable homes in the area with Block 19 and Block 18 apartments
Sterling Prima is the developer of Block 18 and Block 19 of the affordable housing project, with a collective gross development value (GDV) of RM1.2 billion.
"We hope to be the first developer to launch affordable homes in Cyberjaya with our Block 19, which offers 960 units of fully furnished, affordable apartments next month," Emkay general manager Wan Rashdi Wan Ibrahim said during Emkay's Chinese New Year celebration, here, last week.
"We have been informed that other developers will be launching their affordable housing projects during the second half of the year and we're hoping to beat them to the punch," he added.
STERLING Prima Sdn Bhd, the joint venture of property giant Emkay Group Bhd and Areca Properties Sdn Bhd, wants to be the first developer to launch its affordable housing project in Cyberjaya.
The housing project is divided by two parcels with Block 19, slated for launch next month, will be made available to Selangor people.
Those interested will need to register at the Lembaga Perumahan dan Hartanah Selangor (LPHS), a state government agency that aims, among others, to provide affordable houses for the rakyat.
As of now, 600 units out of the 960 have already been registered for at LPHS.
Block 18, however, is operating under an open pricing concept and will be available to the public from April.
"With this project, we are looking at 960 apartments divided by three towers. The pricing for the apartments will begin at RM270,000 for the 850-per-sq-ft unit and upwards," he said, noting that there will be no Bumiputera discount for the units as the pricing is already low.
"We are targeting young families and government workers with this new development.
"Right now, the daytime population of Cyberjaya is 50,000 while the nighttime population is around 8,000. By having a few housing projects, we hope the nighttime population to balance out the daytime population," he said.
The project is expected to contribute between 10 and 15 per cent of profit to the Emkay group's revenue.
Wan Rashdi also said Sterling Prima will consider more affordable housing projects within the medium to long term
RM270K for 850sqft apartment in Cyber under PRIMA is quite affrodable...normal rate for this size in Cyber 350k- close to 400k onwards already...