EDGEPROP. 8TH JUNE: 121 Residences has a gross development value of RM367 million. Spanning a three-acre leasehold tract, the project comprises two 34-storey towers. It has a total of 834 units of serviced apartments and small office home office units with, built-ups of 450 sq ft and 750 sq ft. They are priced from RM325,000.
Some 95% of Glomac Bhd’s 121 Residences at Kayu Ara in Petaling Jaya, Selangor has been taken since its launch in August 2019, according to its chief operating officer Zulkifly Garib in a topping out ceremony on Thursday (June 8).
He noted that the development is currently 60% completed and it is expected to be completed by January 2024.
“We still have another 40% of construction ongoing. We are certain that all units will be taken up before the completion,” he said, adding that the contractors will now be focusing on architecture and internal works.”
121 Residences has a gross development value of RM367 million. Spanning a three-acre leasehold tract, the project comprises two 34-storey towers. It has a total of 834 units of serviced apartments and small office home office units with, built-ups of 450 sq ft and 750 sq ft. They are priced from RM325,000.
The buyer’s profile for the 450 sq ft units are young and first time homebuyers aged between 24 and 35 years old. For the 750 sq ft units, the buyers are upgraders and small families between the age of 30 and 35 years. Predominantly, the buyers are the people from Petaling Jaya and the surrounding market, said Glomac head of group sales and marketing Veejaeswaran Beraya.
Located in Kayu Ara, the project has easy accessibility via Lebuhraya Damansara-Puchong (LDP), New Klang Valley Expressway (NKVE) and Sprint highways. It is also nearby public transportations, such as the Bandar Utama MRT station and the upcoming LRT3 line.
Additionally, the developer is also looking into collaborating with Petaling Jaya City Council to build a covered walkway from the residence to the nearest LRT3 station.
“[Prasarana] will partly build a covered walkway. We have the intention [to build] but we need to talk to the local authority to extend the walkway to our development,” said Zulkifly.
Moving forward, Zulkifly shared that Glomac will be targeting to launch landed and affordable housing in FY24, which will be announced in due course. For the mid to high-end product, Glomac has plans to launch landed properties within Lakeside Puchong in 1Q2.