CYBERJAYA is not only rapidly turning into a technology development hub but also attracting more people to live there, says Setia Haruman executive chairman Ahmad Khalif Mustapha Kamal.
Khalif is positive on the outlook of the commercial and residential market in Cyberjaya as more developments head south.
“We can see new developments between Kuala Lumpur International Airport and the KL city centre, and Cyberjaya is located between these two main hubs of growth. With that I see new opportunities in Cyberjaya in the short term,” said Khalif.
Khalif told NST Property that in the longer term, with the government investment in the mass rapid transit development, the tram system, schools, a hospital and mosque, Cyberjaya will become the first choice for work, study, live and play.
He added that Cyberjaya will also benefit from the planned Kuala Lumpur to Singapore high-speed rail project that is coming up.
“I see it as a masterplan synergising each other. The HSR is in Putrajaya but on the east side. We are on the west side of Putrajaya but we are going to be connected by the tram system that will link entire Putrajaya to Cyberjaya. So invest now,” he said.
Khalif brushed off talks that properties in Cyberjaya are becoming too expensive.
He said, in the last four years, Setia Haruman launched almost 4,000 units of affordable housing, selling between the price range of RM200,000 to RM500,000.
The units range in sizes from 800 to 1000 sq ft, have three bedrooms and two baths, and are partly furnished.
“In the next 20 years we want to deliver another 16,000 units in this category. Cyberjaya will also have over 40 million sq ft of space, collectively that will support demand for houses,” he said.
Meanwhile, Khalif is unfazed by rumours of a property glut.
“In fact I do not see it as a problem, if at all there was a glut. We are in a country that is growing. Our population is growing at a rate of eight per cent to 10 per cent per annum and there is high concentration in the urban area.
“While in the short term there might be new projects with low occupancy but over time, looking at how Malaysia is growing I don’t see that as an issue,” he said.