THE SPK Homes brand will soon make its way to higher profiled projects in the Klang Valley and other growth markets under the SPK group’s brand building exercise.
The first to showcase the SPK Homes brand in a big way will be Cahaya SPK, an exclusive resort residential-cum-commercial development in Section U9 Shah Alam. The 500 acres for the project, which were acquired from Danaharta two years ago, will be put to good use when the project takes off in March.
Cahaya SPK, comprising more than 4,000 residential and commercial properties, marks SPK Homes’ first foray into the higher-end property market segment.
It will generate a total gross development value (GDV) of more than RM1.2bil when completed in seven years.
A low-density development with an average eight units per acre, the project will comprise 791 super link double-storey houses, 196 link semi-detached and 146 semi-detached houses, 260 bungalows, 80 bungalow lots, 18 link bungalows and 2,443 apartments and condominiums.
The commercial component will feature service apartments, a clubhouse and shop lots.
Precinct one, to be launched next month, will offer 80 bungalow lots, ranging from 7,685 to 37,760 sq ft, which are going for RM32 to RM42 per sq ft or RM307,000 to RM1.2mil a lot. The second precinct will comprise 142 superlink houses with built-up area of 2,300 sq ft. The houses, which are tagged at RM335,000, are scheduled for launch in July.
Located within the established neighbourhoods of Bukit Jelutong, Sunway Kayangan and Kayangan Heights, Cahaya SPK is linked to major highways including the Federal Highway, North Klang Valley Expressway and the proposed Penchala Link Extension.
Head of SPK Homes Steven Lim said the company would make use of the lush tropical surroundings to encourage greater outdoor activities and promote healthy living among the residents.
“We will provide a wide range of amenities including jogging trails, playgrounds, basketball and badminton courts, as well as an equipped clubhouse with fitness facilities at Cahaya SPK to promote a healthy lifestyle for the residents,” he said.
Some 15% of the land will be reserved for landscaping and recreational facilities with over 75 acres of greenery and rich foliage throughout the development.
The clubhouse to be completed by 2008 will collaborate with a fitness centre to provide a range of wellness programmes such as yoga, tai-chi and other fitness facilities.
The next SPK Homes project to look out for is an 18-acre residential development in Gelugor, Penang.
Lim said the joint venture with Telekom would comprise 200 semi-detached houses and courtyard homes and 100 apartments worth a GDV of RM200mil. Located on the highest point of Gelugor, the project is scheduled for launch next year and will take three years to complete.
Those looking for semi-detached houses in the upmarket address of Damansara could consider Sunway SPK Damansara’s latest phase that will comprise 196 semi-detached bungalows with built-up of 4,200 sq ft. Priced at an average RM1.7mil, the houses will be launched by October.
The 55-acre Sunway SPK Damansara worth a GDV of RM414mil is a 50:50 joint venture with Sunway City Bhd. So far, 90% of the 190 double-storey houses and 418 2½-storey houses have been sold.
Another two parcels of about 18.5 acres in Sunway SPK Damansara are still under the planning stage.
Lim said SPK Homes, which is undertaking the 7,000-acre Bandar Amanjaya in Sungei Petani, was the largest landowner in the northern state of Kedah.
To-date close to 3,000 properties have been launched, of which 1,236 units have been handed to the purchasers with another 1,000 units to be handed over at the end of this year.
Lim said a strategic re-planning of the type of properties to be developed there was underway and would result in a bigger proportion of higher-end properties.
Most of the properties planned earlier were of the medium-price range. The semi-detached houses are priced from RM250,000, link houses from RM150,000 and single-storey houses from RM90,000.
“To expedite the development, we are also looking for buyers to buy the land for development purposes. So far, more than 1,000 acres have been sold to other developers,” he said.
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