While investigating for the condominium investment opportunity in Cyberjaya, the intelligent city with the beautiful and well-maintained landscapes, I came across the NeoCyber project, a 21.2 acres freehold mixed development project that will span over a period of approximately 6 years in 4 phases.
(i) Phase 1 - consisting of 67 units of shop-offices (Biz Avenue 1) and 272 units of serviced apartments (The Domain) which are already completed
(ii)Phase 2 - consisting of 138 units of shop-offices (Biz Avenue II) and 1 commercial lot (6,555 nett land area)
(iii)Phase 3 - consisting of 2 blocks of office towers (262,000 sf of nett floor area)
(iv)Phase 4 - consisting of 4 blocks of 600 units of apartments.
There are only a few units left for the apartments in “Domain 2” launched last year. “Domain 3” is currently in registration stage and the project will be launched for sales by end of this month. According to the sales rep, there will be 4 blocks of apartments with the similar sizes as Domain 2.
“Domain 3” Apartment with the size of about 800 sq feet will be selling at the cost of RM250 – RM270K tentatively. The price is on the higher end with more than RM300 per square feet. The main attraction for the investors is of course the rental income, eyeing on the limited apartments in Cyberjaya and therefore the good demand from the students or ex-students from MMU and Lim Kok Weng University and probably the IT professionals who works in Cyberjaya. The apartments are popular among the middle-east students. Given the potential monthly rental of RM1500 for unfurnished unit, the rental yield is about 6-7%.
My concern is the shop-offices within the same project are still not fully occupied yet and therefore the commercial zone is actually not that busy yet. We only see tenants such as pharmacy, mamak restaurant and of course the developer which occupies a few units of the shop-houses. A check on the Friday evening revealed that there are not many people hanging around and therefore it is not a happening area at night. The fact that franchise restaurants such as Old Town, Papa Rich do not choose this part of Cyberjaya to operate their business does reveal the potential for capital appreciation is probably limited given the already high selling price.
The Domain Serviced Apartment
Office Towers still in construction stage
From the back
Junction in front of the shop houses
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