The Arc is a serviced apartment development with commercial component in Cyberjaya. This massive development (claimed to be the largest property project by far) has gross development value (GDV) of RM700 million. It neighbors medium-cost Symphony Park and Cyberia Crescent 1.
The development is sited on 14.57 acres of freehold commercial land and comprises 4 high-rise blocks, 5 medium-rise blocks and 1 low-rise retail block. The first phase comprises of 250 units, and the remaining units of over 1,000 units will be sold by phases. The first phase is scheduled to be completed by 2013. It is estimated that the project will be fully occupied by 2015.
The condominium at The Arc offered by the developer has 3 bedrooms and 2 bathrooms and is fully furnished. Built-ups offered ranging from 913sf (Type A), 1,021sf (Type B - Corner), 946sf (type C - Corner) and penthouse (Type D). It is priced from RM350,000 and up to RM710,000 (penthouse). En bloc sale is also negotiable at RM100 million per block.
The Arc is indeed within 15 minutes of walking distance to Multimedia University (MMU). Besides MMU, it is minutes driving to Limkokwing University. There are several amenities surrounding it, such as Street Mall, Cyberjaya Transport Terminal, Cyberjaya Lake Garden and Cyberjaya Mosque. It is also within walking distance to SMK Cyberjaya and SK Cyberjaya.
Name: The Arc
Address: Cyberjaya, Selangor
Developer: Maju PuncakBumi
Project Manager: Andaman Property Management
Completion Date: 2015 (estimate)
Phase 1: March 2013 (estimate)
Type: Serviced Apartment
No. of Blocks: 10
No. of Storey: Up to 26
No. of Units: Over 1,000
No. of Bedrooms: 3
No. of Bathrooms: 2
Built-up: 913 – 1,915 sf (Typical)
Maintenance Fee: RM0.253 psf
Launch Price: From RM350,000 – RM710,000
The Arc is targeted for students, and the developer has already sealed a lease agreement to Multimedia University (MMU) students for a period of 25 years. Due to this, the developer has offered Guaranteed Rental Return (GRR) for 8% yield per year for 25 years.
The GRR is offered based on 4+4 year lease-back option for 6 times plus 1 additional year (25 years). RM50,00 of the price tag is actually used for renovation. Hence, the 8% yield is only derived from the unit price minus RM50,000. For example, if the unit is bought at RM350,000, the GRR only applies on 8% of RM300,000.
And looking at The Arc's very strategic location next to MMU, it is believed that one might make more than 8% yields in 3 to 5 years. However, bear in mind that almost all properties for students in Cyberjaya do not appreciate much in value, but have been a fantastic tool for rental income for investors.
Andaman Group has delivered quite a few numbers of projects from residential to commercial developments. Among the prominent ones are Cova Square, Cova Villa, Cova Suites, and Casa Subang. And new developments are Casa Residenza and The Academia.