Solstice (also known as Solstice @ Pan'gaea) is a mid-high range condominium located in Persiaran Bestari, Cyberjaya. The strata-titles to be issued are freehold in tenure. The development is expected to be completed by the developers, Wawasan Rajawali, which is a subsidiary company of OSK Property, by Q1 of 2016 at its latest.The units at Solstice will comprise of 2 blocks, each having 36 and 40 storeys respectively. There are to be a total of 946 units in the two blocks combined, and the two blocks would occupy a total land area of approximately 2.45 acres. The built-up square feet of the units would range from a studio apartment which is 450 sf to a 2 + 1 bedroom apartment with 980 sf. Prices at launch range from RM293,800 to RM632,800.The units in Solstice are to be patrolled by security guards 24 hours daily; with Balai Polis Cyberjaya is just down the same street for added security. Condominium facilities are to include a swimming pool, children’s pool, whirlpool, and poolside sun beds. Floating cabanas are also part of the developer’s plan in terms of facilities. Apart from having numerous pools, there are also plans to include a techno-gymnasium and a squash court for recreational purposes indoors.There are two banks nearby Solstice, one being HSBC which is just across the Pan'gaea development, and another CIMB Bank within the boundaries of University Multimedia (MMU), just beside Pan'gaea. Hospital Putrajaya is 4.5 kilometres away from Solstice, however, there is also a clinic located just opposite the development again. It can be said that basic amenities could be accessed as the row of shophouses in front of MMU are meant to cater to the needs of the students staying there. The nearest shopping centre is Alamanda located 8.5 kilometres away which is approximately a 15-minute drive. Apart from MMU, which is easily the largest education institution in Cyberjaya, there are also other schools and colleges including SMK Cyberjaya, SMK Sri Puteri, Lim Kok Wing Univerisity and Cyberjaya University College of Medical Sciences. In terms of accessibility, Cyberjaya along with Putrajaya are located in the outskirts of Selangor. The roads are long and congestion is rarely a problem, but one has to travel quite a bit in order to really get anywhere. Access to the towns of Selangor such as Petaling Jaya would take a 30 minute drive, and access to KL City Centre would take approximately 50 minutes.
Property Details
Name: Solstice (also known as Solstice @ Pan'gaea) Address: Persiaran Bestari, Cyberjaya, Selangor Developer: Wawasan Rajawali (a subsidiary of OSK Property) Completion Date: Q1 2016 (estimate) Type: Condominium Tenure: Freehold No. of Blocks: 2 No. of Storey: 36 & 40 No. of Units: 946 Land Area: 2.45 acres Built-up: 450 – 980 sf Maintenance Fee: RM0.27 psf + 10% sinking fund Launch Price: RM293,800 - RM632,800Layouts
Type A 1 bedroom + 1 bathroom 450 sf Type B 3 bedroom + 2 bathroom 893 sf Type C 2+1 bedroom + 2 bathroom 980 sfFacilities
Swimming pool Children’s pool Cascading pool Poolside deck with sun beds Whirlpool Floating cabanas Squash court Techno gymnasium Children’s playground Rooftop gardenAnalysis
A lot of speculators are looking at Solstice mainly for the purpose of renting it out to students in the future. With many more educational institutions having rumoured to be considering building campuses in the immediate vicinity as well, the potential for capital appreciation is also great. There are several other developments taking place at the same time in the vicinity as well; developing places are said to have potential in terms of capital appreciation. With the universities nearby providing a steady stream of potential tenants, there is little worry about being unable to rent the place simply because the universities established there are not going anywhere, anytime soon. However, there is the consideration that the units at Solstice provided are not wholly suitable for the purposes of students, as the units and facilities are rather high end. There is also the worry that if the management is incompetent in managing and maintaining the units, the facilities could deteriorate and a sharp depreciation could occur; student tenants are after all, notorious for partying. Furthermore, Putrajaya is the federal government’s headquarters whereas Cyberjaya was originally meant to be the Silicon Valley of Malaysia; however this aspiration has yet to be realised, as Cyberjaya has turned into more of an education hub than anything else over the years. At the launch price of roughly RM600 psf, it seems that the developers are already pricing in all the available potential into the units.
