United Malayan Land Bhd (UMLand) will be unveiling The Apex bungalow project, which has a gross development value (GDV) of RM289 million, at Putra Hill Residency, Bangi, in June this year, according to UMLand chief managing director Dennis Ng.
Ng told TheEdgeProperty.com the freehold development comprises 81 units of 2 and 3-storey bungalows, with built-up sizes ranging between 4,188 sq ft and 6,413 sq ft.
The selling price of The Apex bungalows range from RM2.19 million or RM492 psf.
“Located within Putra Hill Residency in Bandar Seri Putra, in a development comprising 261 bungalow lots and 81 bungalow homes, The Apex is the latest edition of upscale homes added to the upmarket sanctuary,” he added.
The development of The Apex bungalow is divided into three phases. The first phase, The Apex East, consists of 17 bungalows; the second phase, The Apex North, has 22 bungalows while the third phase, The Apex South, will comprise 42 units.
In this guarded neighbourhood, there will be a central park with a children’s playground and two pocket parks offering the residents outdoor space for recreational activities to encourage a healthy lifestyle.
“There are quite a number of buyers showing their interest in this project, currently we have 160 registrants. The project is expected to be completed in June 2018,” Ng noted.
On the market outlook, he said many home buyers are moving to the fast-growing southern corridor for a more relaxed lifestyle.
Low-density landed developments will be their first choice especially for those who want to stay away from the hectic city life, he said.
“As development land is getting scarce in KL city, future development is heading towards the southern part of Kuala Lumpur such as Kajang, Semenyih, Bangi and Sepang. We also observed there are increasing developments in these areas,” he explained.
He noted that as Sepang is the transportation hub of Malaysia, and Xiamen University Malaysia Campus has started operations, both catalysts will spur the demand for properties in the Bangi area due to its proximity to Sepang.