PUNCAK ALAM (June 16): Eco World Development Group Bhd (EcoWorld) will be launching Esplanad, the first commercial project to be introduced in Eco Grandeur, Puncak Alam, Selangor this Sunday, June 18.

Esplanad has a gross development value (GDV) of RM170 million. It comprises 96 units of 2- to 3-storey leasehold shopoffices with sizes of 22 ft x 75 ft and 22 ft x 80 ft.

Eco Grandeur divisional general manager Ho Kwee Hong said the two-phase Esplanad project is expected to be completed by end-2019 or early 2020, together with the first residential phase in the township.

“The first phase of Esplanad will offer 72 units for sale, while we plan to launch the remaining units one or two months later,” she told TheEdgeProperty.com.

The selling price of the first phase starts from RM1.29 million for the intermediate units that face a future commercial area and lake, to RM4.2 million for the corner 3-storey units facing Jalan Meru Tambahan and Persiaran Puncak Alam.

Divided into four rows, Esplanad is part of the 200-acre Eco Grandeur City commercial centre in the 1,400-acre township which carries a GDV of RM9 billion.

Eco Grandeur City comprises a hotel, medical centre, office towers, international schools, serviced apartments, and a mall with a convention centre and art centre.

The Eco Grandeur township is accessible via five major highways — the Guthrie Corridor Expressway (GCE), KL-Kuala Selangor Expressway (LATAR), North-South Expressway and two upcoming highways, which are under construction, namely the proposed Damansara-Shah Alam Expressway (DASH) and the West Coast Expressway (WCE), which will be completed by 2019.

“Esplanad sits on a tract located between Jalan Meru Tambahan and Persiaran Puncak Alam. The strategic location is close to LATAR, GCE and WCE, and has the potential to grow as a standalone commercial hub,” Ho said.

“Since Eco Grandeur unveiled phase 1 of its residential component in September last year, the township has attracted buyers from Puncak Alam, Kota Damansara, Sungai Buloh, Kepong, Rawang, Setia Alam and Klang.

“Most of them are buying for future own-stay, while others foresee the township’s growth potential once the commercial projects in the township kick off. Others are eyeing the student accommodation market as Universiti Teknologi Mara is only about 1km away from Eco Grandeur,” she added.

Ho said the 14,000-acre Puncak Alam has a population of 250,000 today.

“As population grows, there will be a rising need for conveniences and amenities. Eco Grandeur City will be filling the gaps for the local community’s needs and bring vibrancy to Puncak Alam,” she offered.

Meanwhile, the Eco Grandeur Labs project located next to the Eco Grandeur sales gallery will see its first tenant INK Library Café opening its doors in July. The project offers 15 retail lots for rental. Each lot has a built-up size of 1,000 sq ft.

This story first appeared in TheEdgeProperty.com pullout on June 16, 2017. Download TheEdgeProperty.com pullout here for free.