MARQ Bizpark comprises 10 semi-detached retail office units and 18 cluster retail office units sitting on an 8-acre freehold site. The 3-storey retail offices have built-ups ranging from 7,300 sq ft to 11,100 sq ft and have a total estimated gross development value (GDV) of RM75 million. Prices start from RM300 psf.
“MARQ is a bit different [from conventional shopoffices] due to its flexible usage. Not only is it suitable for commercial use but it could also be suitable for light industrial use. Our previous project, called PRIME @ Axis Industrial Park, located in Shah Alam and completed in July, has a similar concept except that PRIME comes with an industrial title while MARQ is commercial-titled,” Eric told TheEdgeProperty.com.
The project caters to those who want large shopoffices. “Instead of buying three or four conventional shopoffice units in a row, you can buy just one unit at MARQ,” he said.
Meanwhile, Peridot managing director Ng Keong Wee noted that the development will be a new landmark in the area.
“We are targeting light industry factory owners in the area who want their office and showroom to front Jalan Kapar,” said Ng.
Also present at the interview was Peridot’s project director Ethan Lai who said owners can also rent out the floors that they are not using.
“The ground floor has a very high ceiling suitable to be used as a showroom. There are also separate lifts and a lift lobby on the upper floors to allow direct access to individual floors for better rental opportunities,” said Ethan.
The developer also plans to launch phase 1 of NUSA Series of residences at Taman Manggis Jaya, Banting, by the end of the year. Phase 1 comprises 28 units of double-storey semi-detached homes and two double-storey bungalows. The 4.8-acre project is the second project the group is developing in Banting. Their first was Taman Nilam Residenz comprising 106 units of double-storey terraced houses and 20 units of 2-storey shopoffices, which were all handed over last year.
“After we completed our first project, a lot of customers asked for higher-end products. So we decided to build semi-dees and bungalows this time. The project has good accessibility to major highways such as the South Klang Valley Expressway, North-South Expressway Central Link and the Shah Alam Expressway,” said Eric. Built-ups are from 2,800 sq ft to 4,300 sq ft with an indicative selling price from RM250 psf. NUSA phase 1 has a GDV of RM25 million.
“We also felt it was important to have a lot of greenery and to create value for our buyers, so we will be creating a central park of about 20,000 sq ft in the middle of the project,” he added.
Eric noted that the project will have only one exit and entry point while the main entrance will be wide to make it easier for residents to form their own gated and guarded community if they decide to do so in future.
The group has also recently acquired a 5.3-acre plot next to NUSA phase 1 to build phase 2. Plans are for another 20 units of double-storey semi-detached homes, 24 units of double-storey cluster homes and one double-storey bungalow. Phase 2 has an estimated GDV of RM35 million and is targeted for launch in mid-2018.
Other planned launches next year is a 24-acre mixed development of landed residential and commercial properties called Trilliant at Kundang, Selangor with a GDV of RM150 million, and strata linked bungalows called Kemensahill on a 6-acre site in Ampang, Selangor with a GDV of RM75 million.
The group also has 30 acres of landbank in Semenyih with a GDV of RM250 million and 4.5 acres in Alam Impian with a GDV of RM40 million.
On the current property market, Eric described it as a “selective” market rather than a slow market as residential properties are still in demand.
“It is all about getting the correct pricing and location. The issue of bank loan rejections is more on a personal level because everyone’s credit rating differs. For our projects, we have considered feedback and spent time understanding the market,” he said.