Mar 13 2021, 04:36 PM, updated 2 months ago
Possible location:
Summary:
- Freehold
- Residential Title
- Land size: 3.69 acre
- Total unit: 468
- Size: 1109sqft (3+1 rooms) and 1303 (4 rooms)
- 500 meter to LRT Sri Rampai (via covered walkway)
- 6.5km to KLCC
- GDV: RM 300M
- Launching Q2 Y2021
Source: https://www.google.com/url?sa=t&rct=j&q=&es...C0Ao8Gv6eWNepzQ
Source: https://www.nst.com.my/business/2021/03/671...w-projects-2021
Source: https://www.nst.com.my/property/2021/03/671...-sunways-sarena
QUOTE
The second project to launch is Sunway Artessa, a sub-urban transit-oriented development (TOD). The serviced apartments in this RM300 million project are larger units and designed for bigger families.
Cheah said typical units have a size of more than 1,300 square feet.
"Sunway Artessa will have a community urban farm plot to provide residents with the opportunity to grow fresh vegetables besides having more than 20 other health and fitness facilities within the development," she said.
Cheah said typical units have a size of more than 1,300 square feet.
"Sunway Artessa will have a community urban farm plot to provide residents with the opportunity to grow fresh vegetables besides having more than 20 other health and fitness facilities within the development," she said.
Source: https://www.thestar.com.my/business/busines...ila039s-success
QUOTE
KUALA LUMPUR: RHB research is positive over Sunway's new acquisition of land in Wangsa Maju with sales from the new project expected to contribute positively to FY21-22 property sales.
"This land is very near Sunway Avila, which is currently under construction.
"Given the success of Avila (already 90%-sold) and the comparable land cost, we believe Sunway will be able to price its properties competitively for this project," it said in a note.
RHB said it was keeping its FY19-21 earnings forecasts as the project on the new land would only be launched in 2H21. It maintained its buy call on Sunway with a target price of RM1.95.
According to the research house, the 3.69-acre tract of freehold land came at a cheaper price than the land on which the existing Sunway Avila project sits, about 200m away.
"Given the consideration of MYR36.97m (payable over two years), the land cost of MYR230 psf is cheaper than the land upon which Sunway Avila sits, which cost MYR270 psf.
"However, this piece of land is for residential property titles, and has a plot ratio of 4x (vs 5x for Avila land).
"As the land is located at a slightly hilly area, the land owner will undertake the earthworks for the land," it said.
Sunway will jointly develop the land with the land owner, which has a 55% stake, into a 468-unit condominium project with a GDV of RM300mil. The site has an approved development order.
"This land is very near Sunway Avila, which is currently under construction.
"Given the success of Avila (already 90%-sold) and the comparable land cost, we believe Sunway will be able to price its properties competitively for this project," it said in a note.
RHB said it was keeping its FY19-21 earnings forecasts as the project on the new land would only be launched in 2H21. It maintained its buy call on Sunway with a target price of RM1.95.
According to the research house, the 3.69-acre tract of freehold land came at a cheaper price than the land on which the existing Sunway Avila project sits, about 200m away.
"Given the consideration of MYR36.97m (payable over two years), the land cost of MYR230 psf is cheaper than the land upon which Sunway Avila sits, which cost MYR270 psf.
"However, this piece of land is for residential property titles, and has a plot ratio of 4x (vs 5x for Avila land).
"As the land is located at a slightly hilly area, the land owner will undertake the earthworks for the land," it said.
Sunway will jointly develop the land with the land owner, which has a 55% stake, into a 468-unit condominium project with a GDV of RM300mil. The site has an approved development order.
This post has been edited by AskarPerang: Mar 27 2021, 08:08 PM
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