KUALA LUMPUR: Mitraland Group has sold some 70% of its recently launched Lake 6 Entrepreneurs Park, its first industrial project in Puchong. About 60% were sold prior to the launch.
"About 70% of the units have been sold so far and of the remainder, only a few units remain for non-bumiputera customers. The buyers were a mix of investors and companies who bought for their own use," said Eddie Wong, deputy general manager of Mitraland.
"The market last year was more investor-orientated while the current market favours the end user," he added when asked about the current property market environment.
The development is Phase 1 of the 63-acre Lake 6 mixed development, and consists of corporate style 3-storey factories with a 4-in-1 concept, in that the factories can be utilised as a warehouse, factory, showroom or office. There are two types of factories on offer — semi-detached and detached. The semi-detached unit has a built-up area of 5,465 sq ft, while the detached unit has a built-up area of 9,600 sq ft. The factories are leasehold, with a tenure of 99 years.
Situated in Puchong, Lake 6 Entrepreneurs Park spans 20 acres, and is linked to Subang Airport, Kuala Lumpur International Airport and Port Klang via major highways such as the Federal Highway, Lebuhraya Damansara Puchong and North-South Highway. Due to its location, the park hopes to tap into the Puchong population of 420,000 to provide a skilled workforce to businesses here.
The gross development value of the park stands at RM200 million. The units retail at RM470 psf, with the semi-detached units selling for RM2.598 million and the detached units selling for between RM4 million to RM4.56 milion. Maintenance is estimated at RM400 per month, which covers the 24-hour security patrolling services and real time CCTV surveillance.
"The factors that mainly interest buyers were the concept and the value for money that the development provides," said Wong adding that Lake 6 Entrepreneurs Park's units offer larger built-ups compared to other similar developments in the area. Furthermore, a lake borders the project site providing a lush landscape.
Mitraland's future plans for the area include residential and commercial developments.