2014-10-11

Affordable housing for Cyberjaya, developer unveils first phase

Affordable housing for Cyberjaya, developer unveils first phase



CYBERJAYA, OCT 11:
AN AFFORDABLE housing development project called MasReca n19eteen (MasReca-19) has been launched in Cyberjaya to cater to the needs of low- and middle-incomebuyers.

The project being developed by Sterling Prima Sdn Bhd, a joint venture between the Emkay Group and Areca Properties.

MasReca-19 features 960 apartments with a gross development value (GDV) of RM347mil.

The apartments serve as the first phase of a development project which, upon completion, will have a total of 3,680 residential units on a 54-acre) site with a gross development value of RM1.3bil.

The MasReca-19 apartments each have three bedrooms and two bathrooms, with built-up areas of 850sq ft.

"The project introduces a compact, community-living concept, which focuses on public spaces within the development, where residents can meet for various communal activities," said Sterling Prima executive chairman Tan Sri Mustapha Kamal Abu Bakar.

"These facilities include courts for basketball, futsal, badminton and sepak takraw, a bicycle track, a children's playground with exercise equipment, and a multipurpose hall.

"In line with Cyberjaya's position as the heart of the Malaysia Multimedia Super Corridor, MasReca-19 will also have free WiFi service for two years."

Mustapha Kamal added that MasReca-19 has 43 units for the disabled.

The price of one apartment ranges between RM200,000 and RM250,000, with an addition of RM30,000 for selected units to include furnishing like kitchen cabinet, cooker hood and hob, refrigerator, built-in microwave oven, washing machine, two units of fans and air conditioners, and wardrobes for all bedrooms.

"In order to enhance the area's livability, the apartments will be surrounded by 19 units of affordable two-storey shops and 48 units of two-storey shop offices, which are priced at RM250,000 and RM1.7mil per unit respectively.

"Stirling Prima is also providing a mosque for a 2,000-strong congregation, dialysis centre and wet market within the vicinity.

"MasReca-19's market segment targets first-time house buyers and young families who will form the support staff and knowledge workers of companies in Cyberjaya," said Mustapha Kamal.

According to him, construction of MasReca-19 is expected to be completed by the third quarter of 2017, while the entire development is expected to be completed by 2019.

"This development is a social project by Emkay, or, as the Muslims would call it - amal jariah - public welfare initiative," he said.

"By providing affordable housing, we hope that more young people will take the opportunity to own a home and work in Cyberjaya, which presently includes 600 technology companies and 486 MSC-status entities."

Mustapha Kamal was speaking at the launch at Sterling Prima's sales office, where a balloting process was also held for qualified buyers.

MasReca-19 is one of the projects under the Rumah Selangorku affordable housing scheme that is administered by the Selangor Housing and Property Board (LPHS).

To qualify for the scheme, applicants had to fulfil a list of criteria including: being a Selangor resident above 18 years old, have a gross household income between RM3,000 and RM8,000 per month, not own any properties in Selangor (for first-time buyers) or own a low-cost house in Selangor for more than five years (for second-time buyers).CYBERJAYA, OCT 11:
AN AFFORDABLE housing development project called MasReca n19eteen (MasReca-19) has been launched in Cyberjaya to cater to the needs of low- and middle-incomebuyers.

The project being developed by Sterling Prima Sdn Bhd, a joint venture between the Emkay Group and Areca Properties.

MasReca-19 features 960 apartments with a gross development value (GDV) of RM347mil.

The apartments serve as the first phase of a development project which, upon completion, will have a total of 3,680 residential units on a 54-acre) site with a gross development value of RM1.3bil.

The MasReca-19 apartments each have three bedrooms and two bathrooms, with built-up areas of 850sq ft.

"The project introduces a compact, community-living concept, which focuses on public spaces within the development, where residents can meet for various communal activities," said Sterling Prima executive chairman Tan Sri Mustapha Kamal Abu Bakar.

"These facilities include courts for basketball, futsal, badminton and sepak takraw, a bicycle track, a children's playground with exercise equipment, and a multipurpose hall.

"In line with Cyberjaya's position as the heart of the Malaysia Multimedia Super Corridor, MasReca-19 will also have free WiFi service for two years."

Mustapha Kamal added that MasReca-19 has 43 units for the disabled.

The price of one apartment ranges between RM200,000 and RM250,000, with an addition of RM30,000 for selected units to include furnishing like kitchen cabinet, cooker hood and hob, refrigerator, built-in microwave oven, washing machine, two units of fans and air conditioners, and wardrobes for all bedrooms.

"In order to enhance the area's livability, the apartments will be surrounded by 19 units of affordable two-storey shops and 48 units of two-storey shop offices, which are priced at RM250,000 and RM1.7mil per unit respectively.

"Stirling Prima is also providing a mosque for a 2,000-strong congregation, dialysis centre and wet market within the vicinity.

"MasReca-19's market segment targets first-time house buyers and young families who will form the support staff and knowledge workers of companies in Cyberjaya," said Mustapha Kamal.

According to him, construction of MasReca-19 is expected to be completed by the third quarter of 2017, while the entire development is expected to be completed by 2019.

"This development is a social project by Emkay, or, as the Muslims would call it - amal jariah - public welfare initiative," he said.

"By providing affordable housing, we hope that more young people will take the opportunity to own a home and work in Cyberjaya, which presently includes 600 technology companies and 486 MSC-status entities."

Mustapha Kamal was speaking at the launch at Sterling Prima's sales office, where a balloting process was also held for qualified buyers.

MasReca-19 is one of the projects under the Rumah Selangorku affordable housing scheme that is administered by the Selangor Housing and Property Board (LPHS).

To qualify for the scheme, applicants had to fulfil a list of criteria including: being a Selangor resident above 18 years old, have a gross household income between RM3,000 and RM8,000 per month, not own any properties in Selangor (for first-time buyers) or own a low-cost house in Selangor for more than five years (for second-time buyers).



Source: The Star Online


 Housing development, Gross Development Value (GDV)

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