Tall & Urban News

Cicet Asia Development Sdn Bhd, a subsidiary of China-based Chongqing International Trade Group Co Ltd, has developed Greenfield Residence — a high-rise mixed-development in Bandar Sunway, Petaling Jaya, consisting of 816 residential units and 23 retail shops with a total gross development value (GDV) of MYR580 million (US$140 million).

“In the pipeline, we are looking for one or two pieces of land around the Klang Valley area,” Cicet Asia director Tan Swee Ee told reporters.

Tan said Cicet Asia expects the property market to pick up in demand over the year.

“One of the short-term challenges we face is the slow market sentiment, but we are encouraged by the continuation of the country’s infrastructure plans announced by the government.

“This will generate economic activity, and when people start making money, they will want to spend or use it to invest, and property is a good means of investment,” Tan said.

Tan said the project is expected to flourish due to its strategic location.

Its first two towers, Towers A and B, were launched in May 2017, while all three towers are slated for completion in March 2021.

“We are so pleased that Tower A has been fully sold, while Tower B has a 75 percent residency rate. Based on previous launches, we are confident that Tower C will receive a positive response from aspiring homeowners,” he said.

Cicet Asia Associate Director Mak Meng Fie said the project is targeting young families, as the designs of the houses cater to practicality and convenience.

For more on this story visit The Malaysian Reserve.