This article first appeared in City & Country, The Edge Malaysia Weekly on June 14, 2021 - June 20, 2021
Suntrack Development Sdn Bhd’s residential development, Tuai Residence in Setia Alam, has been 60% taken up since its soft opening in July last year.
“Tuai Residence is 60% sold [to date]. We are quite pleased. The Home Ownership Campaign has helped us,” says Suntrack Development CEO James Tan in an email.
“Our buyers are looking forward to our multigenerational homes for their families and ageing parents. They like the location, its low density and spacious layouts [whereby] they can imagine [being part of] the space for a long time to come. Moving forward, we are working on our aged care facility [for the development].”
Suntrack Development is positioning Tuai Residence as a development that promotes multigenerational living with plenty of suitable facilities. Located on a 6.6-acre site and facing Eco World Development Bhd’s township, Eco Ardence, Tuai Residence has a gross development value (GDV) of RM190 million.
It is freehold and has a total of 330 units. According to Tan, Tuai Residence is low density, with only 50 units per acre, and is set to be completed in 2023. Construction works commenced in March last year.
The units in the 29-storey residential tower have a 3-bedroom 2-bathroom layout, with built-ups of 1,100 to 1,200 sq ft (Types A and B). Prices range from RM495,000 to RM550,000 (about RM450 psf). The developer hopes to deliver units that are large enough for families.
Tuai Residence is part of a RM750 million, 23.3-acre development in Setia Alam, Shah Alam, Selangor. The tract was acquired four years ago. There will be four phases altogether — Tuai Residence (Phase 1), Tuai Timur (Phase 2), affordable housing (Phase 3) and a commercial development (Phase 4).
Tan says the target market for this project “is seniors and also the sandwich generation, adults with ageing parents — for example, they could be in their 40s and their parents could be in their 70s — as well as downsizers. They are mostly owner-occupiers and some investors who find our tenant base unique.”
Tuai Residence is located about 30 minutes’ drive from KL city centre. Setia City Mall and Tesco Setia Alam are just a short drive away. The development is also connected via the New Klang Valley Expressway, Shapadu Highway and Guthrie Corridor, says Tan.
Nearby schools and educational institutions include SK Setia Alam, SJK (C) Pin Hwa, SMK Setia Alam, Tenby Schools Setia Eco Park, Universiti Teknologi Mara (UiTM) and Universiti Selangor (Unisel). Hospitals and medical institutions such as Shah Alam Hospital, Columbia Asia Hospital Klang and TGDD Medical and Dental Clinic are located close to the development.
Established in 2002, Suntrack Development has delivered several residential and commercial projects in Cheras, Kajang, Serdang, Bangi and Cyberjaya. It launched a strata-titled development, Kanvas Soho, in Cyberjaya in 2014. The 30-storey twin-tower project has 646 SoHo (small office/home office) and 18 retail units with built-ups that start at 485 sq ft and prices from RM260,000. Kanvas Soho has a GDV of RM230 million.
The company also launched The Riyang at Happy Garden, Kuala Lumpur, in 2017. Located on a 2.03-acre plot, the project has a GDV of RM251 million. The 35-storey residential tower has 212 spacious units, with eight units on each level serviced by five lifts to reduce waiting time. Both Kanvas Soho and The Riyang are fully sold.
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