Sime Darby Property upbeat on industrial projects in Serenia City
Situated in the heart of Sepang, Sime Darby Property Bhd’s (SDP) Serenia City takes up 2,370 acres and comprises residential (13,234 units), commercial (1,206 units) and industrial (161 units) components.
SDP started developing the township, sited on a former tea plantation known as Ampar Tenang, in 2013. Serenia City, with a total gross development value (GDV) of RM8.8 billion, is slated to be fully completed by 2035.
Despite the challenges faced by the local real estate market, it appears that demand for the industrial segment will remain firm in the coming quarters. Recognising its potential, SDP plans to capitalise on the industrial portion of Serenia City, namely the XME Business Park Nilai Impian industrial factories and the Serenia Cipta 3 industrial plots.
“The outlook for Malaysian industrial property is bright, with more than four million sq ft of warehousing space coming on stream from 2020, according to Knight Frank,” says SDP managing director Datuk Azmir Merican.
“To date, 13% of the existing supply of Klang Valley’s warehouse space is in Sepang, which shows a demand in the southern Klang Valley location. Serenia City’s central location in the Sepang district, boosted by its excellent connectivity, will add to XME Business Park Nilai Impian’s and Serenia Cipta 3’s positive outlook,” opines Azmir.
“The growth of the industrial segment in Serenia City will provide job opportunities to the surrounding population of Sepang and Dengkil. The residential component of Serenia City will provide accommodation for industrial workers. Lastly, the commercial development can support the lifestyle of the surrounding population,” he adds.
Previous launches in Serenia City, such as the Serenia Cipta 1 detached factories (launched in 2016 and priced from RM8.1 million), were 100% sold. Meanwhile, the residential launches of Serenia Ariya (comprising 202 units of Serenia Ariya Phase 1 and Phase 2 homes), were also fully sold during their launch period from Aug 29 to 31 last year.
According to Azmir, the group will continue to focus on launching products with the right price range and location in Serenia City. It will also ensure that its products meet current market needs.
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