IT looks like the small town of Kampar, Perak can no longer be described as “sleepy”. It can even be considered a university town of sorts.
It hosts Universiti Tunku Abdul Rahman (UTAR), Tunku Abdul Rahman (TAR) University College, Kolej Menara Jaya and Kolej Sri Ayu.
It is with this in mind that developer Setia Awan Holdings Sdn Bhd is launching a RM396 million mixed-use development dubbed Uni Suites @ Kampar in July.
Sitting on 8.6 acres of leasehold land in Kampar New Town, the development consists of a three-storey clubhouse and four towers which house 2,876 suites.
Comprising two layouts – solo and twin suites, the solo suites are selling for RM87,200 with built-ups of 135 sq ft, while the twin suites will be priced at RM170,300 for 269 sq ft. All units will be fully furnished and come with free WiFi.
Setia Awan Holdings COO and CFO Lee Yan Yaw says the 11-storey Tower A, which consists of 540 units, is sold out and the company is opening another 540 units in Tower B for sale.
Adjacent to the 16-storey Tower D is the clubhouse, which will have a 16,000 sq ft retail area on the ground floor as well as designated facilities for residents, including swimming pool, badminton courts and gym, he tells City&Country.
Rahim & Co will manage the entire development and provide leasing services for the suites, the retail space and the parking bays.
Lee notes that the property firm can help owners from other states find tenants for their suites, so they only have to “sit back, relax and collect the rent”.
“Our Idea is to encourage young people to invest in a smaller and more affordable property first. The rent they collect would cover the payment of the bank loan and in three to five years’ time, the property value would have gone up, so, when they sell, they would have enough for the down payment on their dream home,” he says.
UTAR and TAR are just a 10-minute walk from Uni Suites @ Kampar and Setia Awan predicts tertiary students will form the bulk of residents in the development.
Uni Suites will be developed over three phases – Phase 1 comprises Tower A and B with the clubhouse, Phase 2 is Tower C and the last phase is Tower D.
Construction work will begin in the third quarter and the entire development is expected to be completed in three years’ time.