One Equine
Jointly developed by Beverly Group and Singapore-based Surbana Jurong Private Ltd, the 11.22-acre leasehold One Equine is adjacent to Equine Residence and has a GDV of RM1.02 billion. It will comprise four towers — two with 35 storeys and another two with 33 storeys — with a total of 2,819 serviced apartments and SoHo (small office/home office) units. It will also have eight shops and 4,598 parking bays.
Ng says the shops are built to support the population of One Equine. “We are looking to bring in retailers such as convenience stores, childcare centres, pet shops and clinics. In the meantime, we will use this retail structure as our sales gallery and, when we finish selling the project, these shops will eventually be sold.”
One Equine will be launched in two phases: the first at end-April and the second at a later date. Phase 1 (1,391 units) has a GDV of RM500 million and Phase 2 (1,428 units), RM520 million.
Phase 1 consists of Tower A (35 storeys; 865 SoHos) and Tower B (33 storeys; 526 serviced apartments). Priced from RM268,000, the SoHos will have built-ups of 450 sq ft each and come in layouts of studio, 1+1 and 2-bedrooms. The serviced apartments will have built-ups ranging from 617 to 1,055 sq ft and come in 2, 2+1, 3- and 4-bedroom layouts with prices starting at RM370,000. They are due for completion in 2024.
“We are filling [a market gap] by offering products that are different and carefully pricing them at reasonable prices. These units will be suitable for first-time homebuyers, singletons, young working professionals, young couples with or without children, young and multigenerational families, as well as retirees and investors. Half the units are targeted at owner-occupiers while the rest will be marketed to investors. This is crucial to ensure the development is sustainable and that its appreciation value can be driven by healthy rental yield,” explains Ng.
“Often, if a project is too skewed towards a certain target segment — for instance, investors — things might be risky when the market takes a turn, just like the pandemic, which has affected most of the long- and short-term rental yields, as foreigners are not allowed to enter the country. We are also expecting a fully domestically driven market for the project, be it rental or owner-occupied.”
According to the developer, One Equine is planned to be singularly communal. “The project, which is designed based on the tagline ‘urban living rooted in nature’, has an urban yet natural feel and will offer a wide range of facilities that cater for residents from all walks of life, from the young to the elderly,” Ng says.
There will be a 6.08-acre central park offering facilities such as a 50m swimming pool, children’s pool, wet deck with Jacuzzi, herb/vegetable garden area, yoga area, children’s playground, an outdoor pavilion and a barbecue garden area, a 6,900 sq ft indoor gymnasium, an outdoor gymnasium, a nursery room, multipurpose hall, picnic and camping areas and pavilions.
“We will also utilise the rooftop of the carpark to build a 1.57-acre sports arena, which consists of three multipurpose courts and a jogging track. The maintenance fee is estimated at 30 sen psf per month,” says Ng.
Meanwhile, she notes that the development’s high density will be potential buyers’ main concern. “By incorporating proper facility design, there will be different pockets of areas that residents can enjoy without having to crowd in a particular space. We will also provide shields and privacy protected by lush greenery and tree canopies around the facilities.”
The developer is confident that there will be demand for One Equine, as it is priced reasonably and located strategically with good accessibility and amenities. “We will also market the product via digital platforms. However, some buyers will prefer the traditional way of viewing the show units in the sales gallery instead of virtually. Thus, we will explore different strategies to market the product and are hoping to achieve a take-up rate of 80% for Phase 1 before launching Phase 2,” says Ng.
The development is near AEON Equine Park, Giant Hypermarket Seri Kembangan, The Mines shopping mall, IOI City Mall, Alice Smith International School, SJK (C) Bukit Serdang, Universiti Putra Malaysia, Hospital Serdang and UniPutra Golf Club. It is also easily accessible via Jalan Equine, Jalan Putra Permai, Damansara-Puchong Expressway, Maju Expressway and South Klang Valley Expressway. The upcoming Taman Equine MRT Station, which is part of the Putrajaya Line, will further improve access and enhance property values in the area when completed in 2023.
Source: https://www.theedgemarkets.com/article/beverly-group-unveils-one-equine-and-altris-residence
