The swift take-up defies the trend in the current soft market and is a repeat of the Group’s earlier success in June 2017 where all 505 units of service apartments in its Edusentral@Setia Alam project sold out hours after the launch.
The company attributes the popularity of these mixed development projects to the market’s growing confidence in the HCK Group as an emerging developer and the viability of its properties plus education model as a long-term investment.
Both “edusphere” and “edusentral” are part of the Group’s “edu-series” projects which contain residential, commercial and education components designed as a self-contained community. The Group’s other edu-series project is eduenclave in Ipoh.
HCK Capital Group Bhd’s Executive Chairman, Tan Sri Clement Hii who officiated the launching at the project’s sales gallery on site here said the market has been very receptive to the Group’s projects.
“Buyers know that having an education component will enhance demand for accommodation, as well as retail traffic. This is why we went ahead and build the education component first,” said Hii. The Group expects the project to chalk up a capital appreciation of four to five per cent a year.
Edusphere includes the Cyberjaya University College of Medical Sciences (CUCMS), which will have a capacity of 12,000 students and will commence classes in the first quarter of 2018. The Group will lease the campus on a long-term basis to the university. The Multimedia University is also next to edusphere@Cyberjaya.
The project is on a 24-acre freehold land comprising six towers of service suites, an office tower and 66 units of retail shoplots, besides CUCMS. Today’s launch involves the first two of its six residential towers – Covington Suites and Foster Suites.
The units sell between RM272,000 and RM538,000, making the project one of the most competitively-priced in Cyberjaya. The project is easily accessible via the ELITE, LDP and MEX highways. It also comes with energy-saving features such as rainwater-harvesting system. Some of the units also have dual-key access to allow for multi-generational living.
Cyberjaya, envisioned as Malaysia’s Silicon Valley, received a boost when the government recently announced 11 multi-billion ringgit initiatives there, such as the Asian Big Data Centre; Regional Fintech Hub and the Blue Ocean Entrepreneur Township. Edusphere will also enjoy Internet speed of 1GBps.
The edusentral@Setia Alam, another one of HCK Group’s education city projects, includes the Peninsula International School Australia, which will start classes in early 2018. The school is the first in the country to offer Victorian curriculum and is a collaboration between the Group and the Peninsula Grammar from Melbourne, Australia. Edusentral is built on a 12-acre freehold plot and has 1,783 units of service residences and 44 units of four-and-five storey shoplots.
The eduenclave@Ipoh is built on a 60-acre plot and will house an international school, residential and commercial properties.
The HCK Group is no stranger to the education industry as Tan Sri Clement Hii is also the Group Managing Director of SEGi University and Colleges, one of the largest tertiary education providers, and is listed on Bursa Malaysia.