PETALING JAYA: Sunway Property, the property division of Sunway Bhd, will be targeting young entrepreneurs and new start-ups for the GRID Collection at Sunway Iskandar, Johor.
Its managing director of the property development division for Malaysia and Singapore, Sarena Cheah, told TheEdgeProperty.com that the mixed development planned for launch in June consists of 41 retail units, 74 office units and 501 apartment units with a total gross development value of RM376 million.
Sitting on a 5.11-acre plot, the GRID Collection is the first project at The Marketplace Precinct at the 1,800-acre Sunway Iskandar development in Johor, she added.
“We received numerous positive responses during our preview on Feb 18. However, the GRID Collection is not open for booking yet. We are looking at launching the project in June this year with a target completion date of 2020,” she said.
The retail units dubbed GRID Shoppe will have prices from RM890,000 while the office units called GRID Office will start at RM690,000 onwards.
The details and prices for the apartment units dubbed GRID Residence have not been finalised but the indicative price is less than RM400,000.
Cheah said the properties at the GRID Collection are aimed at young entrepreneurs and business start-ups who require smaller spaces for their commercial activities. The project is also expected to enjoy some spillover from the neighbouring Emerald Boulevard and other upcoming commercial areas.
“Given the target market and the concept of The Marketplace Precinct, we see it as the next vibrant and robust commercial area in Sunway Iskandar, providing a place for innovative ideas to grow and shine,” she added.
Notably, apartment units at the GRID Residence will allow owners to customise the layouts of their homes to suit their needs. Currently, the developer is working on the mechanics of this unique feature.
The GRID Collection is located next to the Coastal Highway Southern Link along with Sunway International School.
Besides the GRID Collection, more developments are coming up in Sunway Iskandar. Being the largest land owner in the economic zone, Sunway Property will be developing six precincts in Sunway Iskandar known as The Lakeview, The Capital, The Parkview, The Riverside, The Seafront and The Marketplace Precinct.
Envisioned to be a self-sustaining integrated township like Sunway City in Selangor, where every amenity is connected, key components such as educational institutions, leisure hotspots, healthcare and recreation will be incorporated in the precincts to cater to the needs of its residents.
“For instance, our Sunway Iskandar International School, which covers pre-school right up to grade 12, commenced on Jan 16 this year with about 180 students. We have also completed our first integrated development — the Citrine Collection in The Lakeview precinct,” said Cheah.
Citrine’s office units have been fully sold while the serviced apartments are 60% sold. The retail component in the development will open next month with Jaya Grocer as the anchor tenant.
This story first appeared in TheEdgeProperty.com pullout on March 10, 2017. Download TheEdgeProperty.com pullout here for free.