KUALA LUMPUR: S P Setia Bhd plans to launch ViiA Residences in KL Eco City, Kuala Lumpur, by end-August at prices starting from RM1 million.

According to KL Eco City divisional general manager Tony Ling, the leasehold serviced apartment development, which carries an estimated gross development value  of RM450 million, will offer 326 one-, two- and three-bedroom units with built-up sizes ranging between 650 sq ft and 1,300 sq ft.

“The selling price averages RM1,600 psf, which is a new benchmark pricing for such properties in the Mid Valley and Bangsar areas,” he told TheEdgeProperty.com.

ViiA Residences is S P Setia’s second serviced residence in KL Eco City. S P Setia launched the first residence in KL Eco City back in 2012. The 708-unit Vogue Suites was sold at an average selling price of RM1,300 psf. It has since been fully taken up.

The 40-storey ViiA Residences is part of the 25-acre (10ha) KL Eco City transport-oriented development which features pedestrian link bridges that connect the residential towers to the Light Rapid Transit (LRT) station, Mid Valley City as well as The Gardens shopping Mall.

The project is surrounded by grade-A office buildings, a 252-room four-star business hotel, three million square feet of prime office space, a 200,000 sq ft retail mall and a unique two-tier road system.

Ling noted that in future, those who stay or work in KL Eco City could have access to the LRT as well as KTM stations and malls within just a 10- to 15-minute walk.

“We are targeting high-income young professionals aged between 30 and 45 years old who want a vibrant city lifestyle and are looking for a home in an integrated development, which offers various facilities and amenities within walking distance,” he added.

Construction will begin end of this year with expected completion by 2020.

Meanwhile, S P Setia has offered the public a sneak peek into ViiA Residences through a mobile gallery,  which has been making its rounds in the Klang Valley since June 17 and is expected to continue until Aug 23.

Ling said via the mobile gallery, the project has received overwhelming response from the public with 3,000 buyers having registered their interest.

On future developments within KL Eco City, he noted that there will be two more residential phases and a 42-storey office block — the highest tower in the integrated development — which are all slated to be unveiled next year. 

This article was first published in TheEdgeProperty.com. Check out the website for the latest property news and listings