This article first appeared in City & Country, The Edge Malaysia Weekly on November 4, 2024 - November 10, 2024

Since its soft launch in March 2023, CDB Arcadia Residences has achieved a 65% take-up rate. The serviced apartment with a gross development value (GDV) of RM245 million is developed by CDB Group Holdings Sdn Bhd through its wholly-owned subsidiary Saujana Permai Development Sdn Bhd.

CDB Group general manager Tan Siew Leng says sales of the units have been challenging in the past year, but notes that the situation began to improve this year after the company increased its sales and marketing efforts.

Located in Bandar Saujana Putra, Kuala Langat, Selangor, the development is a leasehold serviced apartment with 630 units spread across two towers.  The units have built-ups of between 595 and 972 sq ft and two parking bays each. Prices start at RM268,000.

“We are targeting first-time homebuyers, young couples, investors and those [who work nearby]. Our serviced apartments have built-ups that are suitable for this group of buyers. The [price points] at CDB Arcadia Residences are also affordable, with condominium facilities and retailers that offer convenience,” says Tan.

The development will have 36 retail units located on the ground and first floors. The units range in size from 1,000 sq ft to 2,200 sq ft. CDB will retain 10 of the units to ensure there will be quality tenants in the development, says Tan.

The remaining retail units will be sold starting from RM638 psf, while leased units will have a rental rate of RM4.50 psf. She adds that the company is targeting investors due to the development’s location.

“CDB Arcadia Residences is strategically located next to IJM Rimbayu and Kota Kemuning, and surrounded by various amenities,” Tan says, adding that Mahsa facilities (Mahsa University, Mahsa Hospital and Mahsa International School) are only 250m away from the development.

“This provides a great opportunity for investors to obtain a good return on their investment, as they can rent to students, working professionals in the area and medical staff at Mahsa Hospital.”

According to Tan, the developer is targeting food and beverage outlets, grocery stores, convenience shops, pharmacies and launderettes for the retail component and they have been in discussions with potential buyers. She adds that the company has secured The Coffee Bean & Tea Leaf as a tenant.

“The retail component will provide conveniences to the residents of CDB Arcadia as well as to the surrounding residents and visitors, especially those working in the vicinity,” Tan says.

Facilities include barbecue pits, a viewing deck, a swimming pool, Jacuzzi, a children’s playground, a gymnasium, a wading pool, a cabana, a picnic area, a half basketball court, an outdoor fitness area and a jogging track.

Currently, the development is undergoing piling works and is scheduled to be completed by 4Q2027.

It is accessible via the North-South Expressway Central Link (Elite), Shah Alam Expressway (Kesas), Maju Expressway (MEX), Lebuhraya Damansara-Puchong (LDP) and South Klang Valley Expressway (SKVE).

The development is within walking distance of Saujana Avenue Commercial Centre and is close to key commercial destinations such as Eco Sanctuary Mall, Quayside Mall and IOI City Mall.

CDB plans to launch an affordable housing development worth RM650 million in GDV in the City of Elmina, Selangor, next year.

“[We have] two plots of land in Elmina West, which we estimate to launch next year. They are affordable housing (Rumah Harapan Jenis E-Khas, under Rumah SelangorKu) with 2,230 units and built-ups of 1,030 sq ft each. Each unit will come with two parking bays, water heaters, air-conditioning units, a basic built-in TV cabinet, a kitchen cabinet and a wardrobe.”

CDB also plans to jointly develop 380 units of semi-detached home on 26 acres of land in Puncak Jalil, Seri Kembangan, Selangor. The development is currently in the planning stages.

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