EcoHill Walk to cater to community in Setia EcoHill 1 and 2


  • Business
  • Monday, 17 Oct 2016

Koh: ‘We have several buyers who are interested to purchase these units, even before our official launch.’

SEMENYIH: As part of SP Setia Bhd’s plans to further develop the Setia EcoHill township, EcoHill Walk in Semenyih will cater to the community in Setia EcoHill 1 and 2, as well as neighbouring townships.

The mix-use development will span across 17.5 acres of freehold land, comprising three developments, namely 80 units of commercial retail shops, EcoHill Walk Mall, and serviced apartments.

Collectively, the entire build up area will yield a gross development value (GDV) of RM900mil.

The retail shops are to be built across eight blocks, at standard lots of three storeys as well as odd lots of two and four storeys.

SP Setia will launch the commercial retail shops in November, while the remaining two phases, the mall and serviced apartments, will be launched at a later date.

The four-storey mall is not for sale, but will instead be leased by SP Setia.

At an average price of RM500 per sq ft, the portion of the retail shops have a GDV of RM263mil.

“We do not foresee any problems with the take up rate.

“We have several buyers who are interested to purchase these units, even before our official launch. In fact, we expect about 30% to 50% of the shops to be taken up by year end,” said Setia EcoHill Sdn Bhd general manager Koh Sooi Meng.

The price range of an intermediate retail lot is from RM1.79mil to RM2.93mil.

According to Koh, construction of the 80 retail shops is targeted to be completed by the fourth quarter of 2020.

Koh said that EcoHill Walk will attract investors who see potential in developments with a unique concept.

In four years’ time when construction of EcoHill Walk is completed, the residential units in Setia EcoHill 1 and 2 would amount to 10,000 units and the population is projected to grow to an estimated 300,000 people.

Additionally, the student population from the nearby Nottingham University, combined with the population from neighbouring townships, will provide extra footfall in EcoHill Walk.

Apart from that, what sets EcoHill Walk apart from the neighbouring districts’ commercial developments is that it is a lifestyle commercial development, which embodies the SP Setia philosophy of LiveLearnWorkPlay.

Surrounding districts like Sg Long, Kajang and Cheras commonly have generic shoplots of double, triple or even quadruple storeys.

“We hope to make EcoHill Walk an iconic attraction with its prominent water sculptures and man-made stream as well as its design to simulate a structural canyon where activity is rife in its central walkway, lined by the commercial retail shops.

“The design team that brought forth Puchong Setiawalk has further improved EcoHill Walk in terms of value, functionality, security and convenience,” said Koh.

To name a few characteristics of the development, there will be 2,000 car park bays, interconnecting verandahs to activate upper level lots, dedicated service lifts and corridors for improved retail operations, as well as passive cooling design features.

Besides that, there will also be a 23,000 sq ft building designed with a unique diamond facade known as The Gem @ EcoHill Walk, set to be a premium entertainment centrepiece, which is the highlight of the development.

It is earmarked to host premium entertainment and fine dining as patrons can enjoy the view of the waterscapes that surround it.

The indicative selling price of the triple storey The Gem @ EcoHill Walk is RM13mil.

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Business , EcoHill Walk , property , commercial , SP Setia

   

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