KUALA LUMPUR: OSK Property Holdings Bhd is holding a preview of the first phase of its Solstice serviced apartments at its Pan’gaea mixed development in Cyberjaya today. “We have garnered an overwhelming 9,000 registrants [for the whole of Pan’gaea],” OSK public relations and communications assistant manager Emily Cheng said. Phase 1 of Solstice comprises two serviced apartment towers that are 36 and 40 storeys high with a total of 946 fully-furnished units. The gross development value (GDV) of this phase is RM340 million and it will come up on a 2.45-acre tract. The serviced apartments come in three built-ups — 450 sq ft, 880 sq ft and 900 sq ft — with the smallest being one-bedroom suites, the medium ones 2+1 bedroom suite duplexes and the largest, three-bedroom suites.
Each of the smallest units comes with one car-parking bay while the rest come with two car-parking bays each. Indicative prices of the units range from RM302,800 to RM610,800, said Cheng.
Meanwhile, phase 2 comprises the final two towers of serviced apartments that will stand at 33 and 30 storeys, with a total of 600 units planned.
Pan’gaea has a GDV of RM1.2 billion and will sprawl over a 16-acre tract along Persiaran Bestari, near Cyberjaya Lake Garden, Universiti Multimedia Malaysia and the Cyberjaya Smart School Complex.
Besides serviced apartments, the project’s other components are retail offices, small office-flexible offices (SoFo), a hotel, street mall and a four-storey shopping centre surrounding a park.
In April, OSK Property launched the Paragon at Pan’gaea, selling all of its 49 retail office lots and 90% of its 196 units of SoFos. Meanwhile, the developer plans to launch Almira @ Sutera Damansara, featuring 26 units of three-storey superlink houses at end-November. It has not firmed up other details on the houses yet, said Cheng. The launch of Almira will be followed by Gravitas Biz Park in Shah Alam comprising 50 units of three-storey factories priced at RM600 to RM650 psf, translating into an estimated GDV of RM150 million. The built-ups are 4,988 sq ft and 5,870 sq ft while the lot sizes are 33ft by 82 ft and 66ft by 132ft. The buildings will come up on two adjoining parcels of freehold and leasehold land measuring a total 13.7 acres in Taman Perindustrian Subang Utama, Shah Alam.
Next up will be its Opus commercial project to be developed on a 1.06-acre freehold commercial parcel of land in Bandar Sri Damansara. This project will feature around 167 units of SoFos and three levels of retail space with six levels of car park, bringing the estimated GDV to RM75 million.
This article first appeared in The Edge Financial Daily, on Oct 19, 2012.
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