Despite the soft property market conditions in Johor, UEM Sunrise Bhd’s Melia Residences saw rapid sales within the first two days of its launch, surpassing the original target of three to six months.
The group’s chief operating officer of commercial, Raymond Cheah said to date, it has achieved a total of approximately RM206 million in sales, exceeding its target of RM196 million for 2016 for Melia Residences.
“The alignment of price, location and design is the reason why Melia Residences has done so well,” he said.
Melia Residences Phase 1 and Phase 2 offers 107 terraced units from RM656,888 and 99 terraced homes priced from RM700,000 respectively.
Given the overwhelming response from homebuyers, the launch of the third phase has been brought forward to this year from 2017.
“In order to satisfy homebuyers’ demand, we have opened up Phase 3 with limited units currently on sale starting from RM872,888,” Cheah said.
He added that Phase 3 of the Melia Residences, which comprises 160 terrace houses with built-ups of between 2,006sq ft and 2,349sq ft, has recorded a 51 per cent take-up rate.
Potential buyers interested in buying a property there can benefit from waiver of the legal, sale and purchase agreement and memorandum of transfer fees, as these will be borne by the developer, provided that buyers use the group’s panel lawyers and banks.
Cheah highlighted that UEM Sunrise is targeting Malaysians and Singaporeans for this project.
“We have been receiving good response from the local and Singapore market with a high value of sales recorded, hence we will still retain our group’s target for property sales of RM1.5 billion this year,” he added.
Cheah also refuted claims that there is oversupply of residential properties in Johor, adding that there is still much demand for landed properties even in the Singaporean market.
Meanwhile, slated for completion in 2020, the five-phase housing project records a total gross development value of RM573 million, with the final two phases targeted to be launched next year.
This gated-and-guarded freehold stratified development sits on 73.64 acres and will house 625 terraced homes once it is completed, with a low density of eight units per acre.
Residents here can enjoy a clubhouse with facilities such as a tennis court, swimming pool and gym, as well as children playgrounds. The landscape of the development is undertaken by Germany-based landscape architectural firm Ramboll Studio Dreiseitl and is designed to encourage families to enjoy the outdoors and nature such as the 1.3km jogging trail.
Melia Residences is one of the residential components within Gerbang Nusajaya, the second phase of Iskandar Puteri.