Curvo Residences is the final residential phase of the first integrated development in Setapak, SkyArena.
Continue Reading ⋅ 30 January 2023
Aeropod is a new development in Sabah, that is anticipated to be a game changer is the state’s property development sector. It is a development of the leading Malaysian developer, SP Setia. Among some of the other projects that have brought fame to the developer is their township Setia Ecohill in Semenyih, Setia Eco Glades in Cyberjaya, and KL Eco City in Kuala Lumpur.
Their other projects also include their resort development Setia Eco Templer in Templer Park, and TRIO by Setia in Klang. They also have projects internationally, such as Daintree Residence in Singapore, MARQUE Residences in Melbourne, the Battersea Power Station in the United Kingdom, and Eco Xuan in Vietnam among others.
As for Aeropod, this exclusive mixed development is expected to change the landscapes of Sabah with a mixture of serviced apartments, SoVo developments, hotels, a commercial square and lifestyle shopping mall.
Address: Aeropod @ Tanjung Aru, Jalan Kepayan, Tanjung Aru, 88100, Kota Kinabalu, Sabah, Malaysia
Property Type: Serviced apartment, SoVo, Hotels, Shopping Mall, Commercial Square
Land Title: Commercial
No of Storeys:
- SoVo: 5
- Retail Lots: 4
No of Blocks: N/A
Total Units:
- SoVo: 170
- Retail Lots: 23
Tenure: Leasehold
Sales Gallery: B-10-G Aeropod Sales Gallery Kota Kinabalu Malaysia
Site GPS Coordinates: 5.573172, 116.037236
Expected Date of Completion: 2020
Built-up area:
- SoVo: 315 sq ft – 1,220 sq ft
- Retail Lots: 985 sq ft – 1,830 sq ft
Facilities: N/A
Launch Price:
- SoVo: From RM330,000
Maintenance Fee psf: N/A
Parking Bay/s per Unit: N/A
Special Features:
- 5 minutes from Kota Kinabalu’s city centre
Project Details
The mixed development of Aeropod is a prized development for the modernisation it brings to the city of Kota Kinabalu, via the redevelopment of the Tanjung Ara railway station. The train station was previously known as the North Borneo Railway, and is part of the 134-kilometre Tenom-Tanjung Aru line.
Akin to a privatisation project, the agreement between SP Setia and the government is that the developer will bear the cost for the redevelopment and modernisation of the train station which will cover approximately 18 acres and claim the remaining 42 acres for their own.
The entire Aeropod project will comprise serviced apartments, a hotel, lifestyle shopping mall, commercial square, and SoVo developments. While news of the development is scarce online, it is said that the entire project will be completed by the year 2020.
It is said that there will be 170 units of SoVo units housed within 5 storeys. The units are sized between 315 sq ft to 1,220 sq ft. The retail lots comprise of 23 units housed with 4 storeys, with units sized between 985 sq ft to 1,830 sq ft. These two developments were launched in the year 2012 and are expected to be completed between 8 to 10 years after.
According to the developer SP Setia, the development is not just targeted towards the locals, but also towards foreign buyers from South Korea, Japan, China and Hong Kong.
Location
One of Aeropod’s main selling point is its central location. This township is located just next to the Kota Kinabalu International Airport and is just about 5 minutes from the city centre of Kota Kinabalu. This consequently makes living at the Aeropod ideal, as it is only minutes away from most amenities.
Within a 2-kilometre radius of the Aeropod are several schools, including the primary schools of SJKC Shan Tao and SK Tanjung Aru 1. The public secondary schools of choice in the area are SM Tinggi Kota Kinabalu, and SM Stella Maris (M).
Within a short drive from the Aeropod is the Queen Elizabeth Hospital for medical emergencies, and less than 2 kilometres away is the Imago KK Times Square – a premium one-stop shopping mall in the heart of the city. Adding to the convenience, there are many convenience stores in the area in the form of 99 Speedmarts and 7 Elevens’.
Connecting Aeropod to the city are a number of main roads, including Jalan Mat Salleh, and Jalan Tunku Abdul Rahman. And adjoining these roads is the Coastal Highway (Lebuhraya Pantai Baru).
Analysis
|
Name |
Completion Date |
Land Tenure |
No. of Units |
Selling Price |
|
Aeropod, Kota Kinabalu |
2020 |
Leasehold |
N/A |
From RM330,000 |
|
Jesselton Twin Towers |
2022 |
Leasehold |
819 |
From RM675,500 |
|
Bukit Bantayan Residences |
2020 |
Leasehold |
912 |
From RM441,800 |
Pros
As seen in the chart above, this project provides the most value for money in Kota Kinabalu with its affordable launch price. Adding to its affordable price point is also its very central location, which almost promises its price appreciation in the coming years.
Cons
One of the disadvantages of this project is the small sizes of the units here, which translates to a rather high price per sq ft. The smallest unit is sized at 315 sq ft with a launch price of about RM330,000, which translates to about RM1,050 per sq ft – a rather high price for the city of Kota Kinabalu.
The second point of concern is the possibly high number of investors in Aeropod, due to the developer’s target market. This may be an issue for those who choose to live here, as they may not be comfortable with the possibly high turnover rate of residents.
Summary
Touted to be one of the best investment properties in the city of Kota Kinabalu, Aeropod has attracted many buyers, with the majority of the development being sold out even before it was officially launched. One of the biggest talking points about the Aeropod is not the residential developments, but the reconstruction of the Tanjung Ara railway station, which some of the locals say is designed to cater to a future MRT or monorail.
Assuming you take out an RM264,000 loan (80% LTV) with an interest rate of 4.6% that is payable in 30 years to purchase an RM330,000 unit in Aeropod, your monthly debt instalments works out to RM1,353 per month.
Following experts’ advice that your monthly expenses on housing should not exceed 30% of your salary, you need an income of at least RM4,510 per month to be able to afford a unit in this project.
