By NST Property - Published July 19, 2022
MCT Bhd has launched Phase 2 of Alira @ Tropicana Metropark, a freehold residential project located at Persiaran Teknologi Subang in Subang Jaya, due to the overwhelming response to Phase 1,
According to the developer, more than 200 buyers visited the Alira sales gallery during the launch last weekend, and 30 per cent of the Phase 2 units have already been sold.
MCT launched Phase 1 of Alira in November 2021, against the backdrop of the pandemic and the global and Malaysian economies' uncertainties. However, within seven months, it had a take-up rate of more than 85 per cent.
Phase 2 of Alira has 340 units with a gross development value (GDV) of RM257 million. Prices start at RM655,800, with sizes ranging from 850 to 1,048 square feet.
Alira is expected to be completed by 2026 and comes with a host of facilities such as a co-working space, a movie and chill-out deck, function pavilion, rooftop sky music lounge, and rooftop sky gourmet kitchen, said MCT's director of sales and marketing, Chee Kok Keong.
Chee said that Alira offers resort-style living with beautiful scenery, as well as recreational activities like swimming, indoor sports, and games, all nestled within a 9.2-acre central park.
Tropicana Metropark is expanding
Tropicana Metropark, a 35.2-hectare mixed-use integrated project with a gross development value (GDV) of RM7.2 billion, is developed and owned by Tropicana Corp Bhd.
In 2012, Tropicana paid RM385.5 million to Taiwan's Chunghwa Picture Tubes (Malaysia) Sdn Bhd for the land.
Tropicana said during the project's unveiling in 2012 that it would be developed in ten phases and would be completed in 2027.
The developer reportedly said that Tropicana Metropark will include residential towers, office space, retail lots, a shopping mall, hotel, entertainment hubs, an education hub, and a medical centre.
This attracted a large number of first-time home buyers and investors to the development.
The first phase, Pandora Serviced Residences, was launched in May 2013 with a GDV of RM365 million.
Pandora consists of two 627-unit residential towers with three design options: studio, 2-, and 3-bedroom apartments. The built-up area ranges from 599 to 1,288 square feet, and the prices (at the time of launch) began at RM780 per square foot (psf).
The second phase, Paloma Serviced Residences, was launched in December 2013 and has a total GDV of RM465 million with 16 duplex units of Courtyard Villas.
Paloma consists of two serviced residential towers totaling 587 units. The units range in size from 609 to 1,309 square feet, priced at RM850 psf, or more than RM650,000.
Paisley Serviced Residences, the third phase, was unveiled in April 2017. Paisley has two towers with a combined GDV of RM479 million. The 28-story Tower A has 329 units, while the 27-story Tower B has 258 units.
The units range in size from 601 to 1,491 square feet and are situated on a 4.29-acre freehold plot. Tropicana reportedly began selling units starting at RM534,000 (or RM840 psf).
In 2018, Tropicana sold a 3.67ha plot in Tropicana Metropark to MCT for RM143 million (RM360 psf).
Ayala Land Inc, a Philippine property developer, is the sole shareholder in MCT, owning 72.31 per cent of the company as of February 20, 2018.
The newest project in Tropicana Metropark is SouthPlace Shoppes, a community retail hub that is set to refresh and reinvigorate the lifestyles of an estimated 15,000 residents within the development, as well as about 1.3 million people in Subang Jaya and Shah Alam.
Alira @ Tropicana Metropark
Alira is MCT's second project outside of the Cyberjaya-Dengkil corridor, following the launch of Aetas Damansara.
MCT chief executive officer Teh Heng Chong attributed Alira's success to the company's ability to design homes that meet the current needs and demands of its customers.
"When determining the layout and amenities at Alira, we analysed the changes in the market trend due to the pandemic and reviewed the entire facilities offering. As the market prefers more spacious homes with facilities that would accommodate a work-life balance, we also added a co-working space for those who need a more conducive setting for their work needs," he said in a statement.
Teh said that with the government's recent announcement of stamp duty exemption for first-time home buyers until the end of 2023, MCT is optimistic about Phase 2 of Alira.
He claims that the company has seen an increase in buyer confidence in the MCT brand name over the last few years.
He said that this has increased the take-up rate of its properties, apart from other factors such as location, accessibility, and amenities.
Allira offers a diverse range of modern resort-style facilities as well as excellent access to a wide range of business, dining, education, medical, recreation, and shopping amenities.
"At MCT, we always strive to exceed our customers' expectations by providing innovative products in the right locations at marketable prices," he said.
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