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Sunway Velocity TWO, the second phase of Sunway Bhd’s RM4 bil Sunway Velocity integrated development, leverages on continuing developer and investor interest in Cheras, comprising four residential and two commercial towers as well as complementary retail units.
The Sunway Velocity TWO site, encompassing over eight acres opposite Sunway Velocity on Jalan Peel in Kuala Lumpur, was acquired by the master community developer in Q1 2017. Like its sister development, Sunway Velocity TWO is envisioned as a transit-oriented development, boasting proximity to no less than five MRT and LRT stations.
In total, the project is reported to encompass some 1,500 residential units into its design, including 436 units in Tower A with built-ups from 635 sq ft to 1,281 sq ft. Layouts include 1-bedroom studio arrangements to 4-bedroom configurations at the higher end.
As a nod to contemporary trends, a selection of these units are dual-key, allowing for flexible accommodations or rental income for purchasers.
As of December 2018, 90% of the units in Tower A were sold. Tower B was subsequently opened for registration, offering built-ups from 635 sq ft to 1,119 sq ft and priced from RM558,000.
In terms of facilities, the developer has placed more emphasis on Sunway Velocity TWO's proximity to Sunway Velocity’s pull factors, as well as amenities in the surrounding area and the project’s own integrated commercial and retail components.
There’s no denying that the project’s strategic location in Kuala Lumpur – just 3.8km from the city centre – is a major draw. Even for those wary of Cheras’ reputation for traffic congestion, easy access to the Cochrane MRT, Maluri MRT and LRT interchange, and Chan Sow Lin MRT and LRT stations offer convenient alternatives.
Three bridges are planned to connect Sunway Velocity TWO to Sunway Velocity across Jalan Peel, allowing the project to benefit from the latter’s connectivity to the Maluri rail stations. With direct connectivity to Cochrane MRT and a covered bridge across Jalan Cheras planned to link to Chan Sow Lin MRT, residents will be assured seamless connections to surrounding transport options.
And of course, the site’s connectivity in terms of roads is also top-notch, with nearby routes ranging from Jalan Cheras and Jalan Cochrane to major thoroughfares such as the Maju Expressway (MEX), Jalan Loke Yew, Middle Ring Road 2 and the Besraya Expressway (SBE) - though again, inner-city traffic conditions should be kept in mind.
Plans for Sunway Velocity TWO itself include a two-acre Central Park, infinity swimming pool, karaoke rooms and panoramic rooftop facilities, as well as a treehouse element.
Meanwhile, Sunway Velocity features retail attractions such as Sunway Velocity Mall, which is currently fully occupied with an annual footfall of 18 million visitors, along with a catchment population of 1.72 million.
Other upcoming pull factors in the integrated development include the 351-key Sunway Velocity Hotel, catering for the mid-market range, as well as the 240-bed Sunway Medical Centre, which is projected to launch by Q3 2019.
Finally, Sunway College, set to start operations in Q2 2019, is set to bring the Sunway Group’s educational brand to Cheras, in the hopes of duplicating the success of its university and college in Bandar Sunway, Subang Jaya.
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Did you know?
Check out the value of surrounding recently completed properties to make the best buying decision.
Property Name | Year of Completion | Ad Selling Price | Ad Rental Price | Avg Transacted Price | Avg Rental Yield (%) |
---|---|---|---|---|---|
Sunway Velocity TWO | 0 |
RM459,000
-
RM1,290,000
RM 382 psf - RM 1,135 psf |
RM1,750 - RM1,750 | NIL | 4.97 % |
Sunway Velocity | 2017 |
RM300,000
-
RM1,550,000
RM 306 psf - RM 1,199 psf |
RM1,100 - RM1,100 | NIL | 2.98 % |
Amaya Maluri | Dec 2013 |
RM342,000
-
RM1,012,000
RM 415 psf - RM 737 psf |
RM1,500 - RM1,500 | NIL | 3.63 % |
Wisma IAV | 2013 | From RM130,000,000 | From RM6,000 | NIL | NIL |
Warisan Cityview | July 2005 |
RM230,000
-
RM512,800
RM 298 psf - RM 537 psf |
RM1,100 - RM1,100 | NIL | 4.99 % |
Queen's Avenue | 2005 | RM200,000 - RM500,000 | RM750 - RM1,200 | NIL | 3.06 % |
Plaza 393 | 2002 |
RM335,000
-
RM729,888
RM 371 psf - RM 491 psf |
RM600 - RM600 | NIL | 3.38 % |
Did you know?
Check out the past transacted prices of this neighbourhood to make the best buying decision.
Non-Landed | Landed | Commercial | |
---|---|---|---|
0 - 500 SQ. FT | - | - | - |
500 - 1,000 SQ. FT | RM 700 psf | - | RM 745 psf |
1,000 - 1,500 SQ. FT | RM 427 psf | - | RM 245 psf |
1,500 - 2,500 SQ. FT | RM 602 psf | - | RM 1,338,844 psf |
2,500 - 4,000 SQ. FT | - | RM 1,810,000 psf | - |
4,000 SQ. FT and above | - | RM 1,430,000 psf | - |
Note:
Down Payment (10%) | RM 50,000 |
Loan Amount ( 90 %) | RM 450,000 |
Tenure Years | 35 Years |
Interest Rate | 4.85% |
Others (Estimation) | RM 10,000 |
Disclaimer
The information shown is indicative and for illustration only. It does not guarantee the accuracy of the calculation and accepts no liability for any inaccuracies or omissions. The above does not constitute an offer of credit nor does it guarantee that the credit facility applied for will be approved. All applications for financing are subject to credit evaluation and approval and it reserves the right to approve or reject such applications without assigning any reason therefore.
All interest rates shown are indicative according to criteria provided by financial service providers and this is an estimated figure only do not constitute a guaranteed figure. Please consult your respective financial provider for the exact interest rate.
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