This article first appeared in The Edge Financial Daily on April 26, 2019

KUALA LUMPUR: IOI Properties Group Bhd has opened the media preview for a new small office versatile office (SOVO) tower in Puchong.

Named “Stellar Suites”, it is the first transit-oriented development in Puchong, and is located 50m away from the Bandar Puteri Light Rail Transit Station.

The SOVO units, ranging in size from 860 sq ft to 1,550 sq ft, are designed with versatile, business-friendly layouts and open-plan interior spaces to suit the needs of various types of businesses, it said in a statement yesterday. The tower will also have retail spaces.

“This collection of freehold offices is also the first SOVO tower in Bandar Puteri Puchong to feature a turnstile guest access security system for an enhanced sense of security, as well as six lifts for added convenience,” it said.

Communal amenities include meeting and mingling areas such as outdoor terraces, two meeting rooms, and a boardroom. Recreational facilities provided include a gym for tenants and an open area that it has named “Launch Pad” for tenants to relax between office hours.

Separately, the group said it has recently unveiled property ownership incentives such as its “IOI F.R.E.E Ownership” campaign, which offers flexible financing options rebates, extra rebates, and exemptions.

“In addition to the government’s waiver of stamp duties for both memorandum of transfer and loan documents, IOI Properties is covering all sale and purchase agreement and loan legal fees.

“Collectively, flexible financing with extra cash in hand, rebates, and free legal fees add up to hefty and neat savings for property buyers. Stamp duty exemptions are applicable to all purchasers and not just first-time homebuyers,” the group said.

IOI Properties shares closed one sen or 0.74% higher at RM1.36 yesterday, with a market capitalisation of RM7.49 billion.