SCP Group to launch RM1.65 bil KL Traders Square
Date：2015/05/01
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PETALING JAYA (April 30): SCP Group’s wholly-owned subsidiary, Radical Range Sdn Bhd is expected to launch the first two blocks of KL Traders Square serviced apartments next weekend. It is located along Jalan Gombak, Kuala Lumpur and is approximately 7km from the city centre.
“Post-goods and services tax, there is uncertainty, not just in the property sector but across the board," said group property division director Calvin Low. "But we believe that if you know how to position the development, it can still garner interest. Take for example our KL Traders Square, which had reached 50% sales even before the official launch that’s taking place on May 9 and 10.”
The project spans 17 acres of freehold land. It comprises 2,550 units of serviced apartments in five blocks (30-storeys) and 97 shop offices in three-storeys.
The project has a total gross development value (GDV) of RM1.645 billion, with serviced apartments’ GDV at RM1.25 billion, while the shop offices’ GDV is RM395 million.
The first two blocks of serviced apartments (1,170 units) were soft launched in end-February and saw more than 50% take up rate to date.
The serviced apartment units will have built-ups ranging from 842 sq ft to 940 sq ft. It offers 3- and 3+1 bedroom layouts with 10ft ceiling height. The selling price starts from RM405,000 or RM480 psf. The maintenance fee is approximately RM0.20 psf, which includes the sinking fund. The units will have no furnishing.
Facilities will be located on the eighth floor and include thematic gardens, a multipurpose hall with two indoor tennis courts and six badminton courts, a children’s playground, swimming pool and wading pool.
It is accessible via Middle Ring Road 2, Duta-Ulu Kelang Expressway, Ampang-Kuala Lumpur Elevated Highway and Mahameru Highway.
As for the shop offices, they will take up 3-storeys from the ground level. They will have built-ups ranging from 5,009 sq ft to 10,891 sq ft. They have selling prices from RM3.3 million. To date, there are only four units left to be sold.
KL Traders Square will be developed over four phases and is slated for completion in May 2019.
Low added that the group hopes to launch the last phase before end-2016.
KL Traders Square marks the eighth project since the company started in 2011. Its first six projects are fully sold. These projects comprise a mixture of shop offices, commercial units, terraced and bungalow houses, condominiums and serviced apartments.
SCP Group has another three projects in the pipeline in Cheras Selatan and Kota Kinabalu. It includes Cheras Traders Square, a 30 acre mixed development in Cheras with RM1.56 billion in GDV. In Kota Kinabalu, it has 96 units of 3-storey terraced houses (RM90 million GDV) and 200 proposed 2-storey terraced houses with RM100 million in GDV.