BY Pavither Sidhu
IOI Properties Group is no stranger to catalytic developments, having etched a name for itself as a builder of sustainable and close-knit communities that offer contemporary residences, a host of amenities and facilities as well as convenient infrastructure.
Exemplifying this is the ongoing IOI Resort City development, taking shape on 320 acres at the northern hub of Putrajaya, which appeals with its scenic green backdrop, ideal connectivity and a location that offers tremendous promise in terms of growth.
Shaped to be an ultimate resort lifestyle development, this mixed-use township comprises upmarket landed and high-rise residences, several office towers, a number of international-class hotels, an 18-hole Palm Garden Golf Course and Clubhouse, and the flagship IOI City Mall regional shopping centre.
IOI Resort City has already tasted success with positive take-ups for residential components such Puteri Palma Condominiums, The Clio Residences and bungalow lots within the Beverly Row enclaves. Boosting values here are the IOI Square office towers and IOI City Towers 1 and 2.
Added lustre is provided by the presence of renowned hotel brands such as the Putrajaya Marriott (5-star), Le Méridien Putrajaya (5-star) and the Palm Garden Hotel.
However, the main driver of growth in the area has been the mammoth IOI City Mall. Built on 36.5 acres, the integrated shopping centre offers 1.5 million square feet of nett lettable retail space and acts as a key focal point for the township, attracting businesses, leisure activities and living vitality.
Overall, these components combine to provide tremendous value benefits to each other, cross leveraging to boost property values within IOI Resort City, which bodes well for would-be investors.
One such new opportunity presents itself in the form of Conezion, a RM1.4 billion mixed integrated project taking shape on 16.49 acres within the greater IOI Resort City development. It will comprise four residential towers as well as 14 blocks of retail and shop offices overlooking the Palm Garden Golf Course designed by Australian architect Ted Parslow.
Conezion is a modern commercial focal point that is poised to emulate the success of Publika and Solaris in Mont’ Kiara. It will also have the added advantage of being the first of its kind in the booming Putrajaya-Cyberjaya-KLIA vicinity.
Located off Persiaran Utara (Highway 5) and off Lebuh IRC, Conezion is well-served by a wide variety of amenities and infrastructure that are easily accessible from its location. For instance, IOI City Mall is only 700m away, while major hotels can be reached within minutes via a short drive.
The residential component of the project is Conezion Residences, which boasts 1,326 units of serviced residences housed in four towers. The units feature flexible layouts of two or three bedrooms, with built-ups that range between 780sq ft and 1,278sq ft. These are priced from RM463,500 onwards (or RM532psf).
Each unit will boast wide glass façades that offer panoramic exterior views from all rooms, while the living area is centrally located between bedrooms so that there is maximum use of space – removing the need for corridors or walkways.
A host of lifestyle facilities are located at two Level 6 podiums decks, each shared between a pair of towers. Residents will have access to a 25m swimming pool, wading pool, chill-out deck, gym, mini theatrette, games room, children’s art studio, learning lab and a multi-purpose hall, among others. The maintenance fee is set at RM0.33psf.
Security is a top priority at Conezion Residences, and peace of mind is provided by 24-hour CCTV surveillances, card access verifications at the lift and lift lobby and separate guarded ingress and egress points with intercom.
In addition to the provision of ample parking spaces for visitors, each unit will also be allocated two dedicated parking bays.
Making up the commercial component of the mixed development are 445 units of two-, four- and five-storey retail and office blocks, with unit sizes ranging from 1,583sq ft to 5,890sq ft. These will be owned and managed by IOI Properties and are now open for lease.
According to the developer, the commercial units at Conezion are designed to attract F&B outlets, product showrooms, boutique outlets, convenience stores, service oriented businesses, learning centres and specialty stores.
Overall, the retail lifestyle offered at the project will appeal to working professionals, potential clients from the office towers, hotel guests and those from the surrounding residences.
For residents, instant access to a host of retail, services and F&B options means they will be pampered with convenience and indulgences at their doorstep. The vibrancy of the commercial component is also expected to be rapidly enhanced given the continuous population growth within IOI Resort City.
Expected to be launched over the March 26-27 weekend this year, IOI Properties Group foresees that investors can probably expect to see rental yields of about 4-5 per cent per annum (based on the current market scenario). This is possible given the strong demand from local and expatriate working professionals from Cyberjaya, Bangi and Sepang.
This has been driven by the presence of multi-national companies in the oil and gas industry as well as the ICT sector. There is also a sizeable population of airline employees provided by the township’s proximity to KLIA.
Additionally, there is demand from lecturers and international students contributed by a multitude of international schools and universities located nearby. In fact, there is an immediate catchment of more than 50,000 students from five major universities situated within short driving distance.
For those keen on a purchase at Conezion, there is more good news as IOI Properties is currently promoting its “Buy Now Pay Later” deferred payment scheme of up to 24 months (for the differential sum). In addition to this, it is offering a low down payment scheme as well as early bird rebates.
IOI Resort City is easily accessible via major highways such as the North-South Expressway, MEX, ELITE, SILK, SKVE and LDP.
For more information on Conezion, log on to http://Conezion.ioiproperties.com.my or call +603 8947 8899.