Suntrack expects ‘The Riyang’ project to have GDV of RM251 mln

KUALA LUMPUR: Suntrack Development Sdn Bhd expects its latest project, ‘ The Riyang’, which is located in the last few remaining prime spots in the established neighbourhood of Happy Garden, Kuchai Lama here, to have a gross development value (GDV) of RM251 million.

Chief executive officer James Tan said the 0.82-hectare freehold project, featured a 35- storey tower and 212 residential units of between 1,447 and 2,789 square feet (sq ft).

“The Riyang, one of Happy Garden’s last remaining freehold condominiums, banks on accessibility, family- friendly designs and readily available conveniences.

“We will officially launch the project this weekend and we are cautiously confident of selling all the units by year- end,” he told reporters here today.

Tan said the project was compet it ively priced from RM830,000 to RM1.2 million, or RM550 per sq ft.

He said it has already attracted a great deal of interest since opening for private previews in June 2016 with 50 per cent of the bookings about to procced for signing of sales and purchase agreements and 15 per cent were rejected due to unsuccessful loans.

“We are aware of the current market sentiment.

“But with only 212 units being offered, a freehold project at a prime and mature location, as well as competitively-priced, we should be fine.

“The project is easily accessible via major highways and is only 1.1km away from the Kuchai Lama station on the Mass Rapid Transit-Two Sungai Buloh– Serdang– Putrajaya line,” he said.

The Riyang is scheduled for completion by June 2020.

He said the company’s another freehold development in Cyberjaya – The Kanvas Soho – would be completed this June.