This article first appeared in The Edge Financial Daily on April 8, 2019

KUALA LUMPUR: Sime Darby Property Bhd’s first affordable product priced under RM500,000, the Elsa in Bandar Bukit Raja, has been fully sold out on the day it was launched, with all 165 units snapped up.

Elsa comprises 20ft by 65ft freehold double-storey link homes that are located in the award-winning township of Bandar Bukit Raja in Klang, the group said in a statement yesterday.

The Bandar Bukit Raja township is well-connected via major highways like the North Klang Valley Expressway, the Federal Highway, the Shapadu Highway and the soon-to-be-completed West Coast Expressway. It also houses a 100-acre (40.47ha) town park, the largest in Klang, aimed at integrating wellness into residents’ lifestyle, the group said.

“Elsa marks the launch of the Sime Darby Property Affordable Collection, which includes high-rise and landed properties priced below RM500,000, located within the Klang Valley. The company is expected to launch over 5,000 affordable homes from 2019 to 2021 under the Affordable Collection, which includes statutory and open-market products,” it added.

The overwhelming response to Elsa marks an “excellent start” to the group’s Affordable Collection, said Sime Darby Property chief marketing and sales officer Gerard Yuen. “The strong demand for Elsa proves the market’s need for quality products in great locations and at the right price points. The launch of the collection is timely and well-aligned with the Malaysian government’s aspiration to ensure homes are more affordable for the middle- and lower-income group,” he added.

Elsa is also the fifth product under Sime Darby Property’s Primetime 8 campaign. Primetime 8 began in March and will carry eight new product launches over eight consecutive weeks, ending in April 2019, the statement read.

The campaign saw multiple successful launches, including the Elmina Valley Five, which was 98% sold during its first phase launch on March 24. “Primetime 8 gives customers the opportunity to purchase newly launched properties which are strategically located in Klang Valley and Johor,” the group said.