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Thursday, 7 December 2017 | MYT 12:00 AM

Edu-series projects add value to development

THE success of a development depends on its population and sustainability which contribute to a property’s value creation for both investors and homeowners.

This is what HCK Group envisages as it strives to be the “creator of education cities across Malaysia”. It wants to instil the concept of appreciation through its products by integrating education components into its edu-series projects along with residential and commercial properties.

Capitalising on the rich experience of the diversified group’s education arm, HCK believes such integration will add value to the entire development.

“The primary value most people see in a property is the value creation opportunities to generate returns from their investment, especially in terms of catchment.

“Based on our experience with our earlier projects, buyers like the idea of having an education component as this helps support demand for accommodation as well as office space and retail traffic,” explained HCK growth strategies and alliances group executive director Clifford Hii.

“Combining education with property development and commercial components allows us to generate population while retaining it at the same time, growing the area’s popularity which would bring more vibrant opportunities as well as bigger returns on investment.”

The 450sq ft Studio Unit (Type A) for integrated living.
The 450sq ft Studio Unit (Type A) for integrated living.

HCK will launch its edusphere @ Cyberjaya project this month, the third instalment of the edu-series projects by the group after eduenclave in Ipoh, Perak and edusentral in Setia Alam, Selangor.

Located in the heart of Cyberjaya, Selangor, the overall edusphere spans 9.3ha of freehold land which will be gradually rolled out in seven phases and slated for completion in 2023.

With a gross development value (GDV) of RM1.8bil, the mixed development consists of a tertiary education component, six residential towers, retail lots and office tower.

Hii described edusphere as a well-balanced development to provide a “Stay, Shop and Study” lifestyle under one roof.

“In keeping with Cyberjaya’s reputation as a smart city, edusphere incorporates four smart elements – smart living, smart energy, smart space and smart connectivity,” he said.

Smart energy features include rainwater-harvesting system, energy-saving bulbs and naturally ventilated washrooms while smart space indicates dual-key layout.

The development is easily accessible via the Damansara-Puchong Highway (LDP), Elite Highway and Maju Expressway (MEX) as well as the Express Rail Link (ERL), making it a smart connectivity project, enabling a smart living integrated hub.

Being the first phase, Cyberjaya University College of Medical Sciences (CUCMS) campus has a capacity of 10,000 students and will start operations in the first quarter of 2018.

Hii explained that commencing the 1.6ha university first will provide a sizeable catchment to the area by the time the commercial and residential components are completed.

“When the units are ready for vacant possession, the university would have been operating for about four years, and mature enough to provide rental returns from students and staff from the institution as well as traffic to the commercial lots,” he added.

The bedroom of the master unit in the 790sq ft Dual-Key layout (Type B).
The bedroom of the master unit in the 790sq ft Dual-Key layout (Type B).

Also to be launched this month is the second phase comprising three residential towers namely Covington, Foster and Northwood.

The residential towers are named after the Intel processor generations to reflect Cyberjaya as a smart city.

Covington and Foster are each 18-storey high, offering 176 service suites spanning 11 floors while the 32-storey Northwood features 448 suites across 25 floors.

The units come with two built-up area sizes – 450sq ft studio and 790sq ft dual-key layout.

“The young generation can take advantage of the dual-key studio unit to stay close to their parents while enjoying privacy.

“On the other hand, those who want to generate some income from rental can do so without compromising their privacy,” explained HCK Group deputy managing director Ong Chou Wen.

The units at Covington and Foster come with fully-fitted pantry, air-conditioners in living space and bedrooms as well as washer-cum-dryer appliances.

As for Northwood, selected units will be equipped with additional smart home system, smart lock and smart TV.

Residents of the three towers get to enjoy leisure facilities shared on the sixth level landscaped deck such as swimming pool, barbeque pit, gymnasium, spaces for movie room, library and games room, multipurpose hall, sports court and cafe.

There will also be walkways for pedestrian connectivity and safe accessibility to components within the development.

Ong pointed out that the development’s structure had omitted the basement carpark to cut cost so that unit purchasers are able to benefit from an affordable price.

“Thorough market research was done on the surrounding areas on property pricing compared with similar built-up areas in edusphere, and it showed that our pricing was on the lower side.

“With its concept and pricing, edusphere should appeal to young professionals, first-time homebuyers and those looking for an upgrade, as well as investors,” said Ong, adding that the second phase was expected for completion in 2021.

The upcoming phase of 21 units of commercial shoplots will be launched in the first quarter of 2018.

Hii added that the group was confident that edusphere would be able to replicate the success of edusentral, which saw the first phase of its residential towers completely snapped up within hours of the launch earlier in June.

“Even before the launch, we received numerous enquiries from potential buyers. This shows their confidence in HCK Group as an emerging developer.

“The confidence is further bolstered by Cyberjaya’s growing popularity, following the Government’s recent decision to carry out 11 multi-billion ringgit initiatives within the area including FinTech Regional Hub, the Asian Big Data Centre and the Blue Ocean Entrepreneurs Township,” concluded Hii.