Kuala Lumpur (Nov 1): SCP Group is set to launch the RM1 billion Phase 2 of Cheras Traders Square in Cheras South, Kuala Lumpur, next year.
More familiarly known as a car park operator, SCP Group has been slowly making its presence felt in the property industry since 2011.
Cheras Traders Square sits on a 30-acre leasehold land parcel next to Aeon Cheras Selatan and Mitraland Group’s C180 development. The RM600-million Phase 1 of Cheras Traders Square, which was launched in September, occupies 20 acres and houses 196 units of 2-storey showroom shop offices.
The 10-acre Phase 2 will be a mixed-use development comprising shops, a multilevel parking podium and serviced apartments.
SCP Group will also launch a landed project, Bukit Damansari at Menggatai in Kota Kinabalu, next year. It has a gross development value of RM100 million.
Executive director Calvin Low says the group’s focus will be Klang Valley and Kota Kinabalu, and it is sourcing for more land bank. It is currently in talks with landowners in Setapak and Petaling Jaya.
“Current projects will take us a few years to complete. At this time, we are not going out of the Klang Valley and Kota Kinabalu,” he adds.
In the Klang Valley, SCP Group is currently developing Lido Residency at Jalan Loke Yew, Season Garden in Wangsa Maju, and KL Traders Square in Kuala Lumpur.