• Structural completion of Serasi Residences marks major milestone, setting the stage for final construction phase

ARA DAMANSARA, 20 SEPTEMBER 2024 - Sime Darby Property Berhad ("Sime Darby Property" or “Company”) celebrated the topping-out ceremony of Serasi Residences, a Transit- Oriented Development (“TOD”) at Putra Heights Sentral. This ceremony marks a critical milestone, celebrating the completion of the building's structural phase, symbolising that the project has reached its maximum height and setting the pace for the final stages of construction, anticipated for completion in February 2027.

Sime Darby Property’s Chief Operating Officer - Integrated Development, Datuk Ir. Mohd Idris Abdullah said that the topping out of Serasi Residences marks a milestone in their commitment to providing affordable, high-quality living spaces that promote vibrant communities.

In total, the development comprises 1,428 freehold serviced apartment units across three blocks. This is complemented by 10 strata retail lots, all of which are sold out. With a gross development value of RM455,877,320, Serasi Residences offers a range of unit types, from 1+1 one-bedroom to three-bedroom apartments, catering to a diverse demographic from first-time home buyers to small families and young professionals.

Sime Darby Property’s Chief Operating Officer - Integrated Development, Datuk Ir. Mohd Idris Abdullah said, "The topping out of Serasi Residences marks a key moment in our commitment to delivering affordable, high-quality living spaces that foster vibrant communities. Our focus is on creating spaces that offer convenience, community engagement, and a sustainable lifestyle, which are all integral to the Serasi experience."

The development is within walking distance to various recreational amenities, including a linear park with a walking trail along Bukit Cermin and the new 7-acre Putra Heights Community Park. It is also connected by a 15km cycling path that runs throughout the township, ensuring that residents enjoy both connectivity and a healthy lifestyle.

Serasi Residences provides over 30 lifestyle facilities spread across a two-acre Facilities Podium, including a 50 metre Olympic-length swimming pool, a multipurpose hall, and retail shops directly below the residences, enhancing the convenience and quality of life for its residents.

Serasi Residences comprises of 1,428 freehold serviced apartment units across three blocks. This is complemented by 10 strata retail lots, all of which are sold out.

Located just 400 metres from the Putra Heights LRT Station and near major expressways, Serasi Residences offers unmatched accessibility. Launched in phases commencing February 2023, the demand for Serasi Residences has been strong, reflecting the deep market appetite for well-located, affordable housing in Malaysia. The initial phase of 507 units in Block 1 achieved a 100% sales take-up within just an hour, underscoring the compelling value proposition it offers. Subsequent phases continued to mirror this success, with nearly 300 units in Block 2 reserved in a single day, culminating in a 98% sales take-up for the non-restricted units in Block 2 by mid-2024.

While the project has been well-received, Serasi Residences continues to offer valuable opportunities for ownership through its Servis Apartmen Mampu Milik (“SAMM”) units, which are part of an affordable housing scheme managed in collaboration with Lembaga Perumahan dan Hartanah Selangor (“LPHS”). As of 18 August 2024, the overall take-up rate for Serasi Residences stands at 72%.

The 1+1 Bedroom SAMM units, priced attractively at only RM250,000, feature a modern, spacious, and flexible layout. Eligibility extends to Malaysians aged 18 and above with an individual monthly income of up to RM15,000, or a household income of up to RM20,000. Notably, the purchase is not restricted to first-time homebuyers, it is available to any eligible buyer who has not previously purchased a SAMM unit.

To streamline the purchase process, Sime Darby Property is actively facilitating applications to the LPHS, ensuring that more Malaysians can access these affordable units easily. Additionally, in a move to further facilitate homeownership, Sime Darby Property is absorbing SPA legal fees, loan legal fees, and loan stamp duties, in addition to offering up to 100% financing for eligible customers, ensuring a hassle-free purchase process.

For more information on Serasi Residences and to make an appointment to view the 550sqft SAMM show unit at Putra Heights Sales Gallery, call 03-5198 0888 or visit https://www.simedarbyproperty.com/putra-heights/

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About Sime Darby Property Berhad
With over 50 years of experience, Sime Darby Property leads in creating master-planned communities, setting the benchmark for quality, innovation, and sustainability in residential, integrated and high-rise projects within its 25 townships and developments across Malaysia.

As it transitions into a real estate company by 2025, the company drives the industrial and logistics segment in Elmina Business Park, Bandar Bukit Raja, Hamilton Nilai City, and the Pagoh Special Economic Zone. Propelling its recurring income portfolio, Sime Darby Property is also the first public-listed property developer in Malaysia to venture into the creation of development funds in the industrial and logistics sector.

The company has pledged to achieve Net Zero carbon emissions by 2050, referencing the science-based target of limiting global temperature rise to 1.5°C. A consistent champion for biodiversity, Sime Darby Property is a constituent of the MSCI ACWI Small Cap Index with MSCI ESG Rating of BBB and is rated by the Carbon Disclosure Project.

A part of the respectable Malaysian consortium which successfully regenerated the iconic Battersea Power Station in the United Kingdom, Sime Darby Property also owns the multi-award-winning Kuala Lumpur Golf & Country Club, host to the prestigious LPGA- sanctioned Maybank Championship.

Driven by its Purpose to be a Value Multiplier for People, Businesses, Economies, and the Planet, Sime Darby Property through its philanthropic arm, Yayasan Sime Darby, continuously creates positive social impacts for the communities it serves.

Sime Darby Property is recognised as the World’s Best with Gold and Silver wins at the FIABCI World Prix d'Excellence Awards 2023, with other notable achievements, including All-Stars at the StarProperty Awards 2023, a Platinum ranking in the Property Development category at the Putra Brand Awards 2023, a Top 10 Developers (Malaysia) Award at the BCI Asia Awards 2023, a People’s Choice Award at the PropertyGuru Asia Awards Malaysia 2023, as well as named one of the nation’s top three property developers at ‘The Edge Malaysia’s Top Property Developers Awards 2023’.
 

For more information log on to www.simedarbyproperty.com
Media Contact: Alia Mior Azhar | +6010-433 4268 | alia.miorazhar@simedarbyproperty.com
For General Enquiries please e-mail: group.communications@simedarbyproperty.com

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