KUALA LUMPUR: Glomac Bhd has launched the first phase of its Loop City 3-in-1 integrated project with a total estimated gross development value (GDV) of RM1.6 billion in Puchong.
The low density project features three serviced residence plots featuring lakeside terraced homes, semi-detached units and apartments, as well as one commercial plot slated for a private school or hospital.
Loop City is the continuation of Glomac's Lakeside Residences, a township development with a GDV of RM4 billion spanning 188 acres which started in 2012.It will be developed over four phases.
The first phase of Loop City, which has a GDV of about RM350 million, consists of 980 units of serviced apartments.
The units are sized at 450 sq ft, 550 sq ft, and 750 sq ft, suitable for starter families, young working couples, empty nesters or singletons looking for homes that require minimal maintenance yet can fetch good capital appreciation in the futures.
The selling price per unit for the apartments starts from RM230,000 to RM660,000.Glomac group managing director and chief executive officer Datuk Seri FD Iskandar Mansor said with the rising cost of living, many individuals working in Tier 2 locations like Bangsar, Petaling Jaya and Puchong have resorted to living in Tier 3 areas such as Rawang, Sungai Buloh and Cyberjaya to alleviate financial burdens.
"What we seek to establish, especially with young Puchong dwellers, is a choice to live and work in the area, to be closer to their family instead of living away from the Puchong city centre," he said at the unveiling of Loop City today.
