Eco Grandeur’s Esplanad phase 1 achieves 75% take-up within 2 hours

Tan Ai Leng | TheEdgeProperty.com
Monday, 19 June 2017 15:28:40 PM

PETALING JAYA (June 19): Eco World Development Group Bhd’s newly launched Esplanad, the first commercial project in Eco Grandeur, Puncak Alam, Selangor, has achieved a 75% take-up rate for its phase 1 within two hours of its launch last Sunday, June 18.

Eco Grandeur divisional general manager Ho Kwee Hong told TheEdgeProperty.com that over 300 interested buyers had attended the balloting process. The sales gallery had seen the crowd building up at around 12pm waiting for the balloting process to start at 2pm.

Phase 1 of Esplanad offered 72 units of leasehold shopoffices. Some 54 units were sold before the balloting process ended at 4pm.

Esplanad has a gross development value (GDV) of RM170 million. It comprises 96 units of 2- to 3-storey leasehold shopoffices with sizes of 22 ft x 75 ft and 22 ft x 80 ft.

“Some are buying for own-use while others are looking for rental yield. In general, the ratio of own-use buyers and investors is around 50:50,” she added.

Ho noted that the remaining 18 units in phase 1 of Esplanad comprise both intermediate units (22 ft x 75 ft) and corner units (46 ft x 75 ft). Selling prices range between RM1.3 million and RM3.9 million.

Following the good response to phase 1, the developer plans to launch phase 2 three months later. The project is expected to be completed by end-2019 or early 2020, together with the first residential phase in the Eco Grandeur township.

Esplanad is part of the 200-acre Eco Grandeur City commercial centre in the 1,400-acre township, which carries a GDV of RM9 billion.

When completed, Eco Grandeur City will have a hotel, medical centre, office towers, international schools, serviced apartments, and a mall with a convention centre and art centre.