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IJM Land to launch Phase 2 of Savio at Riana Dutamas by year-end

TheEdge Sun, Sep 15, 2019 03:00pm - 1 year ago

IJM Land Bhd will be launching Phase 2 of Savio at Riana Dutamas in Segambut by the end of this year. The project is being undertaken by 368 Segambut Sdn Bhd, a joint-venture company between FCW Holdings Bhd and IJM Land.

Situated on a 5.06-acre freehold parcel, the mixed-use development has a gross development value (GDV) of RM585 million and will include 921 serviced apartments.

“Phase 2 will have two 34 and 35-storey towers comprising 2 to 4-bedroom units with built-ups of 720 to 1,210 sq ft. Prices start from RM575 psf. Two parking bays will be allocated to each unit,” said IJM Land managing director Edward Chong at a topping up ceremony on Aug 30.

Savio, which forms part of the RM1.5 billion Riana Dutamas that is being built on a 16.15-acre freehold parcel will be developed over three phases.

The facilities in Riana Dutamas include an infinity-edge pool, landscaped gardens with inviting cabanas, a gymnasium, lounge deck, Jacuzzi cove, futsal court, multipurpose hall and mini amphitheatre.

“We are planning to build a pedestrian walkway at the development, which will be within walking distance of the Segambut KTM Komuter Station connecting to KL Sentral,” said Chong.

Riana Dutamas is close to Publika, Solaris Dutamas, Hartamas Shopping Centre, Sunway Putra Mall, SRJK(C) Khai Chee and SMK Segambut. It is easily accessible via Duta Ulu-Kelang Expressway, SPRINT Expressway, North-South Expressway, New Klang Valley Expressway, Jalan Segambut and Jalan Kuching.

“[For Riana Dutamas], our target market is homebuyers of every generation, ranging from first-time homebuyers, mature buyers, young professionals, individuals to multi-generational [families]. We are also targeting seasoned investors and those who live in the area,” said Chong.

Meanwhile, Phase 1 of Savio has recorded a take-up rate of 90% since its official launch in November 2017. With a GDV of RM565 million, the phase comprises a 37-storey tower with 1,018 residential units and is due to be completed in 4Q2021. The 1 to 3-bedroom units have built-ups of 653 to 1,177 sq ft.

“We are thrilled to hit this milestone with the development of [Phase 1 of] Savio, which commenced in January last year. In keeping with our commitment to quality and keeping within the time frame, we have completed Savio Phase 1’s structural work up to the final floor within 19 months,” said Chong.

Also present at the topping up ceremony were IJM Land CEO and managing director Datuk Soam Heng Choon, FCW Holdings chairman Tan Sri Robert Tan, FCW Holdings executive director Datuk Anderson Thor Poh Seng and Setiakon Builders Sdn Bhd founder and managing director Datuk Kuan Ah Hock.

Related Stocks

FCW 0.870
IJM 1.590
SUNWAY 1.330


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