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Investment SUNWAY VELOCITY TWO @ JALAN PEEL, Sunway JV CRSC Prop Former Lemon Tree

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TSaccetera
post Feb 12 2017, 12:37 AM

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Sunway City in Cheras JV 8.45-acre property project, GDV RM2.5 billion
The Star | Friday, 10 February 2017 | MYT 7:50 PM
http://www.thestar.com.my/business/busines...oject-gdv-rm2b/


KUALA LUMPUR: Sunway Property's unit has purchased an 8.45 acre leasehold land in Jalan Peel, Cheras where it will jointly undertake a property project with an estimate gross development value (GDV) of RM2.5 billion.

Sunway City Sdn Bhd (SunCity) had on Friday inked a joint venture agreement to develop the leasehold land, which is opposite its iconic Sunway Velocity development.

Under the agreement, SunCity will pay RM500,001 for a 50% + 1 share stake in Austral Meridian Property Sdn Bhd (AMP), the joint venture company.

“In addition, SunCity will also advance up to RM140 million to settle the existing liabilities of AMP,” it said.

SunCity said the project, with a GDV of >RM2 billion, would comprise service apartments, retail shops and offices and the development would be over 10 years.

“It is expected to be synergistic with Sunway Velocity that is located directly opposite the land,” it said.

Sunway Velocity is a RM4 billion development by Sunway and since the first launch in 2008, more than RM1 billion worth of residences and offices has bee sold far.

SunCity pointed out the recently opened Sunway Velocity Shopping Mall has become a new landmark in the Cheras area and achieved “footfall” of more than a million people in less than two months.

It also said the development site, ust 5km from the Kuala Lumpur City Center (KLCC), ensures easy connectivity via a short walking distance to the Cochrane MRT Station and underground Maluri MRT Station & LRT Interchange. The massive population of over 800,000 in the Cheras vicinity also contributed to the appeal of the development.

With this proposed new development, the group envisages Sunway Velocity to benefit from a larger catchment population and vice versa, residents and tenants of the new development will benefit from the amenities and conveniences at Sunway Velocity.

“In the near future, Sunway Velocity is expected to be further enhanced by the completion of a four-star hotel, a medical center and two corporate office towers, all of which are already under construction,” it said.
Hunakadoo
post Feb 12 2017, 02:06 PM

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Another rm1000 psf project
TSaccetera
post Feb 16 2017, 10:35 PM

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Sunway Velocity Two will have more serviced apartments, roughly 70% of its masterplan.
Babizz
post Feb 17 2017, 07:21 AM

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QUOTE(accetera @ Feb 16 2017, 08:35 AM)
Sunway Velocity Two will have more serviced apartments, roughly 70% of its masterplan.
*
Wah horrible news to the already struggling velo 1 apartment buyers. What happened to the mall expansion n everything?
surf-it
post Feb 17 2017, 08:09 AM

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super greedy, my velocity 1 apartment still cannot find ppl to rent, shxx now wan build another how many units to dilute the market....

Learnt the lesson hard way, no more Suxway
BEANCOUNTER
post Feb 17 2017, 08:49 AM

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QUOTE(surf-it @ Feb 17 2017, 08:09 AM)
super greedy, my velocity 1 apartment still cannot find ppl to rent, shxx now wan build another how many units to dilute the market....

Learnt the lesson hard way, no more Suxway
*
You cant control your competition.
If sunway doesnt buy the land..ot could be other developers that bought it and launch more apartments.

The important fact is where u buy your property make sure it fulfilled yr criteria.....other than this...u cant control other factors.
HarpArtist
post Feb 17 2017, 09:03 AM

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QUOTE(surf-it @ Feb 17 2017, 08:09 AM)
super greedy, my velocity 1 apartment still cannot find ppl to rent, shxx now wan build another how many units to dilute the market....

Learnt the lesson hard way, no more Suxway
*
but got many die hard fansi buy still wor.singing while buying too. not sure for what. trophy collection also dont buy here lah.

side note im told phase 1 velocity residence suffer maintenance problem. by owner.
HELLO HELLO
post Feb 17 2017, 10:23 AM

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Nowadays Mega size mall cannot do Liao lar. Lagi mau expension.. memang gorek jialat lobang Cari Mati.
Jagalat
post Feb 17 2017, 11:51 AM

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QUOTE(surf-it @ Feb 17 2017, 09:09 AM)
super greedy, my velocity 1 apartment still cannot find ppl to rent, shxx now wan build another how many units to dilute the market....

Learnt the lesson hard way, no more Suxway
*
Mind to reveal the psf and size of your velo 1 apartment?
PM also can. Curious to own survey and study.
Thanks
kochin
post Feb 17 2017, 11:53 AM

I just hope I do!
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QUOTE(HELLO HELLO @ Feb 17 2017, 10:23 AM)
Nowadays Mega size mall cannot do Liao lar. Lagi mau expension.. memang gorek jialat lobang Cari Mati.
*
probably the extension have specific biz in mind.
i.e. exhibition centre, tourist attraction hub (maybe an ice skating rink? or something), hotel, and of course complimentary retail lagi lah.
HarpArtist
post Feb 17 2017, 12:52 PM

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QUOTE(HELLO HELLO @ Feb 17 2017, 10:23 AM)
Nowadays Mega size mall cannot do Liao lar. Lagi mau expension.. memang gorek jialat lobang Cari Mati.
*
what to do. chinaman company only one direction one idea.
heavensea
post Feb 17 2017, 01:21 PM

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Sonwhere verosity 2? So fast? At 2017 aka gg year in term of financial aspects?
Same trick not always work twice amigo, GOOD LUCK.
MonGJiHyo
post Feb 17 2017, 01:30 PM

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QUOTE(kochin @ Feb 17 2017, 11:53 AM)
probably the extension have specific biz in mind.
i.e. exhibition centre, tourist attraction hub (maybe an ice skating rink? or something), hotel, and of course complimentary retail lagi lah.
*
the nearby Viva Home already have expo halls.. probably some new attractions would be great blush.gif
butthead76
post Feb 17 2017, 03:31 PM

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QUOTE(HarpArtist @ Feb 17 2017, 09:03 AM)
but got many die hard fansi buy still wor.singing while buying too. not sure for what. trophy collection also dont buy here lah.

side note im told phase 1 velocity residence suffer maintenance problem. by owner.
*
what do u mean suffer maintenance problem? as in rent received unable to cover the maintenance fees? hmm.gif
HarpArtist
post Feb 17 2017, 07:57 PM

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QUOTE(butthead76 @ Feb 17 2017, 03:31 PM)
what do u mean suffer maintenance problem? as in rent received unable to cover the maintenance fees? hmm.gif
*
rent unable to cover maintenance then better not rent lor laugh.gif i think he meant the maintenance is not up to standard. maybe cleanliness or something i guess due to nobody using so nobody maintaining.
nakedtruth
post Feb 19 2017, 05:36 PM

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is it launched?
any info at the sales office at velocity?

urb7
post Feb 8 2018, 06:02 PM

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QUOTE
Sunway Property to launch RM2b worth of
residential properties in 2018


KUALA LUMPUR (Feb 8): Sunway Bhd’s property arm, Sunway Property, plans to launch RM2 billion worth
of residential properties across eight locations this year. This is nearly double last year’s figure of RM1.1
billion.

The group also plans to launch about RM610 million worth of new investment properties, including healthcare,
commercial, hospitality, education and investment assets, in the developer’s townships and major integrated
developments.

Sunway Property managing director Sarena Cheah said homebuyers and investors will see many opportunities to
capitalise on the group’s integrated townships and developments this year.

“We will also look to help new homeowners capitalise on the many opportunities we are offering to be part of
our growing and vibrant communities,” she said at a media briefing.

The launches include Sunway Citrine Lakehomes, Sunway Onsen Suites, Sunway Geo, apartments in Sunway
Velocity TWO and Sunway Wangsa Maju, designer shops in Sunway Wellesley, condominiums in Sunway
Tianjin Eco City in China and Sunway Rivercove Residence in Singapore.

“We will continue to focus our efforts on our integrated development and townships, where we have seen good
take up rates for most of our launches,” Cheah said.

At the same time, Sunway Property has launched its new Under The SUN Certainty+ financing campaign to
offer purchasers and investors a convenient way of participating in the group’s growing communities.
The campaign features a low down payment, cash rewards during construction period, guaranteed loan by the
group, deferred payment, voluntary exit plan and differentiated sum installments by the developer.
Cheah said the group is also on the lookout for more landbanks, following the securing of 37.4 acres last year.
Currently, the group’s landbank stands at 3,305 acres, with a total gross development value of RM53 billion.
Some 56% of the landbank is located in Johor, 30% in Klang Valley and 6% in Penang.

poilam
post Jun 12 2018, 10:56 PM

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900 psf
reyna_ho
post Jun 12 2018, 11:07 PM

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Just curious. Anyone knows the tenant profile in velo residences? I notice a lot of Chinese tourists shopping in velo mall.
Pixtel
post Jun 13 2018, 07:07 PM

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Hearsay from Sunway SA, SV2 residences starting size from 600sf to 1200sf, tentative average price from RM950psf. Anyone can confirm?

This post has been edited by Pixtel: Jun 13 2018, 07:10 PM

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