The Academia offers 8 pct rental to investors

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PRIME INVESTMENT: Chu with a model of Arc at Cyberjaya at tHe Spring.

KUCHING: The Academia @ South City Plaza, strategically located above South City Plaza in Seri Kembangan, Kuala Lumpur, is designed to meet the accommodation demand of the growing student population.

Developed by Andaman Property Management Sdn Bhd, Academia comes with a rewarding guaranteed rental return (GRR) scheme, which is the first of its kind in Seri Kembangan.

Under the scheme, investors are guaranteed an eight per cent rental income per annum for the first three years, with an option to renew for the next seven years, said its sales and marketing executive Chloe Chu yesterday.

“The Academia has 416 apartment units leased to University Putra Malaysia (UPM). There are UPM buses to transport the students. Within South City Plaza, there are also educational institutions with about 3,000 students, and these include International College of Health Sciences, SEGi and Akademi Antarabangsa Clipso,” she said.

She said that units in Block A were all sold out, while less than 15 units were still available in the 133-unit Block B.

Units at Academia are sized from 500 to 1,300 square feet, with prices ranging from RM200,000 to RM500,000. The project is expected to be completed by end of next year.

Andaman is also offering DIBS (developer interest bearing scheme), whereby no interest is charged to the buyers during the construction period.

Chu said: “Andaman Property is confident of offering the GRR schemes with a minimum eight per cent per annum because it has leasing arrangements with colleges and universities before it started the product.

The fully furnished apartments are served by a network of highways. They enjoy unrivalled accessibility to the south and other parts of Klang Valley.

It is accessible via Sungai Besi Expressway, KL-Seremban Highway, Bukit Jalil Expressway and Silk Highway.

Chu said Andaman Property’s past projects included Casa Subang serviced apartments in Selangor and Cova residential and commercial developments in Kota Damansara.

Recent projects included Arc at Cyberjaya and Casa Residenza in Kota Damansara.

The company is also building a new university tower block for SEGi in Kota Damansara.

According to her, about 40 per cent of property investors recorded in the company’s database came from Sarawak and Sabah.

“Kuala Lumpur property inflation is fast — between 20 and 30 per cent. Furthermore, Kuala Lumpur is developing rapidly and population has increased rapidly. As such, there is very high demand in property.

“Property cost will continue to increase due to the increase of material and manpower cost. These are among reasons why we have active investors from East Malaysia.”

The company is having a property roadshow at tHe Spring (West Court) from 10am to 10pm daily until this Sunday.

For more information, please call Chu at 012-810 7277, and Terry at 013-2020 515.