ISKANDAR PUTERI (Feb 24): UEM Sunrise Bhd is set to see the handover of its serviced apartments and offices at its mixed development Teega @ Puteri Harbour (Teega) in Iskandar Malaysia, Johor by the end of this month.
Teega was launched in 2012. It comprises Teega Residences, a 35-storey tower that offers 736 serviced apartment units with sizes ranging between 886 sq ft and 4,457 sq ft; Teega Suites, a 35-storey tower that offers 556 serviced apartment units with sizes ranging from 485 sq ft to 1,621 sq ft; Teega Tower, a 26-storey tower with 51 office suites with sizes ranging from 2,103 sq ft to 2,363 sq ft as well as a 4,888 sq ft Sky Café; and Teega Walk, a 2-storey retail component with 28 units ranging from 515 sq ft to 3,341 sq ft.
“Our residences and offices are more than 95% sold. The remaining apartment units left for sale have built-ups ranging from 485 sq ft to 4,457 sq ft with prices from RM500,000 to RM5.37 million. Meanwhile, Teega Walk is currently open for lease. [The focus will be] on food and beverage and convenience shops,” UEM Sunrise CEO and managing director Anwar Syahrin Abdul Ajib told TheEdgeProperty.com.
He noted that although they are not able to disclose the list of tenants yet, residents can look forward to a strong mix of quality operators.
According to Anwar, early buyers of Teega would have seen a capital appreciation of about 40% from the launch price back in 2012 (RM700 psf) to about RM1,000 psf currently.
“Teega has its own distinctive appeal as it offers a unique waterfront living, coupled with its strategic location and close proximity to leisure and recreational attractions, education hub and ferry terminal. It is highly accessible by road and sea as it lies adjacent to the Puteri Harbour International Ferry Terminal, the Indoor Theme Park, Marina Satellite Clubhouse as well as the Johor state’s administrative centre — Kota Iskandar,” Anwar explained.
It is within a 5 to 10 minute drive from the Coastal Highway, the North-South Highway and the Malaysia-Singapore Second Link. It is also located 3km from the Raffles American School and Marlborough College Malaysia and 5km from EduCity.
Common facilities include the outdoor lap and spa pool, yoga terrace and tai chi zone, floating gym, wellness path, tennis court, herbs garden, children’s playground, multi-purpose function hall, car-washing bay as well as CCTVs. “The units have spacious balconies for views of the public and private marina,” said Anwar.
Also at Puteri Harbour, phase 1 of the developer’s 394-acre Estuari township, the Estuari Gardens, which comprises terraced homes, is expected to be completed in the second half of 2017.
This story first appeared in TheEdgeProperty.com pullout on Feb 24, 2017, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.