KUALA LUMPUR: Boutique developer Ancubic Capital Sdn Bhd plans to launch an apartment project worth RM700 million in Pantai Dalam, tentatively end of next year.

“We foresee the local property market to pickup between end of next year and early-2018, and we are confident that it will be a good time to introduce this development,” said executive chairman Datuk B A Low. “However, details such as prices and built-ups are still being finalised.”

He added: “For this development, we are targeting young professionals who live in the area. The two-acre (0.81ha) site is situated in the heart of Pantai Dalam.”

Meanwhile, for the remaining part of 2016, the group plans to launch its ongoing project, Kazen @ Saujana Puchong, on Oct 8. This project consists of 30 units of landed residential homes with a gross development value (GDV) of RM30 million.

“In terms of our projects, we are rather diversified, and we would like to explore different pockets of land around Klang Valley to offer quality and affordable products,” said Low at the signing ceremony between the group and Mydin Mart.

Mydin Mart, operated by Tri Shaas Sdn Bhd, is the latest franchise to enter into a lease agreement with Ancubic Capital. The franchise is set to be the anchor tenant at the Suria Jaya mixed-development project in Section 16, Shah Alam by end of this year.

“We are truly honoured to partner with a local brand that will add value to Suria Jaya and its catchment,” said Low.

Launched in June 2014, Suria Jaya is a freehold, 22-storey building comprising 479 units of small office flexible office and 152 retail units. The offices have built-ups ranging from 430.56 to 839.9 sq ft, with prices starting from RM267,000 to RM560,000. Set to be fully completed in 2017, Suria Jaya has a GDV of about RM143 million and is currently 95% taken up.