Berjaya Land Bhd's general manager of property division Mah Siew Wan is excited about Seputeh Heights, a gated and guarded enclave of some 108 bungalow lots developed by Selat Makmur, a subsidiary of Berjaya Land, in Taman Seputeh area.
Located between Petaling Jaya and Kuala Lumpur in a quiet neighbourhood of Taman Seputeh, with amenities close at hand, Mah says there is little reason to doubt the future potential of the place.
The location is fantastic and it is in a very quiet neighbourhood. Added to that is the maturity of Taman Seputeh. These are the overall attractions. As for Seputeh Heights itself, the terrain is beautiful. There will be a lot of greens, all beautifully landscaped, across the 41 acres.
There will not be a clubhouse because the people who opt for a place like this would belong to one or more clubs already. But to create that community, we have a little playground and pool for residents to meet. There will also be a man-made waterfall that will be lit at night.
In terms of aesthetics, we will not be short-changing buyers. In terms of recreation, the entire project will be a garden or park for joggers and exercise buffs.
As for security, we are ready for that too because we believe the people who opt for this place will have security as their main priority. So we have put in 24-hour electronic surveillance and mobile patrols by both security and dog units, says Mah.
As part of its security package, there will be two access roads a main entrance and a back entrance that will be closed except for certain times of the day.
Prices range from RM138 per square feet (psf) to RM198 psf, and lot sizes range from 8,000 sq ft to over 60,000 sq ft. Since its launch in 1998, 35 per cent of the lots has been sold.
Mah says the minimum land cost is RM1.5 million. With construction cost of about RM2 million, the entry level will be at least RM3.5 million.
So our marketing strategy is slightly different. Not many know about this place. In terms of marketing, we are contacting people on the quiet, those whom we think would like to live in such an upmarket surrounding. At the same time, we are doing the necessary awareness campaign. We are talking about millions, after all, says Mah.
In spite of the price tag, Mah says there are purchasers who bought two adjoining lots because they want to built a bigger house. So the density at the end of it all is really low. Although there are 108 bungalow lots, after the place has been developed there will be less, she says.
At an entry level of RM3.5 million, Seputeh Heights would be about on par with Bukit Sri Persekutuan, an upmarket residential hub developed by the IGB group.
A research head who declined to be named says with an entry level of RM3.5 million, house buyers will have a choice in other newer developments like Mutiara Damansara and Mont' Kiara.
You can see the future in these two areas where else Taman Seputeh is a mature area.
I would reckon that the people who buy into Seputeh Heights, with that high entry level, would be aged 40 and above and more mature as opposed to the trendier buyer who may opt for new residential suburbs, she says.