Affordable Cyberjaya homes in the pipeline

CYBERJAYA: Affordable housing could yet make its way to Cyberjaya but this would be dictated by the needs of the market, said its master developer.

“We have a provision for affordable homes, but whether we develop high or low-end property, it will depend on the market. At the moment there is strong demand for properties above RM2mil, especially from recent launches,” Setia Haruman Sdn Bhd chief operating officer CK Lao said.

“Some of the properties here were sold at close to RM1mil a few years ago and even then the take-up was 100%,” he said at a briefing on the Cyberjaya Premier Property Showcase.

The showcase, to be held on Sept 22-23, will feature seven developers, namely Setia Haruman, Cyberview, UEM Land, Mah Sing, Glomac, MCT, and Emkay.

Asked to elaborate, Cyberview Sdn Bhd assistant general manager (business, corporate communication and planning) Nazri Tumin said affordable residences were in the pipeline and would be announced “in due time”, possibly in the next few months.

Setia Haruman, which oversees the overall development of the MSC-status zone, is a 75:25 joint-venture between the Emkay Group and UEM Land Bhd, while Cyberview is the city manager.

Lao said a study carried out by the firm a few years ago revealed that a majority of those who lived in Cyberjaya were graduates, meaning average incomes were higher than that of other cities.

“Our market is no longer restricted to people working in Cyberjaya,” he noted, adding that the main factor for this was the 30-minute drive time between KL and Cyberjaya via the Maju Expressway.

By The Star