KUALA LUMPUR: The local property market has witnessed a significant upswing since January of this year, propelled by a range of ongoing initiatives.

Riding on this wave of optimism, S P Setia Bhd has introduced its latest project, Irama Villa IV, presenting double-storey terraced homes priced between RM1.7 million and RM3.05 million.

Nestled within the prestigious Bandar Kinrara enclave in Puchong, Selangor, Irama Villa IV represents the culmination of the sought-after Irama Villa series.

This upscale residential project encompasses 38 units of double-storey terraced homes sprawled across 5.53 acres.

The development is focused on attracting couples, young families, and upgraders within Puchong's catchment areas.

S P Setia divisional general manager Razly Mohammad Rus said there is a demand for larger floor plans and column-less porches and layouts, particularly ones with sleek, contemporary designs.

"We are confident that the 38 units will be well-received and taken up swiftly, especially among our affluent target market of families, upgraders in the catchment areas of Puchong who recognise our signature products, and their steady values," he said in a statement.

The four- to five-bedroom units have built-ups ranging from 2,414 to 2,927 sq ft.

Due for completion in 2026, Irama Villa IV has a gross development value (GDV) of RM74.1 million.

The homes will include sustainable amenities under its concept of Setia eGreenLiving, such as the Box 366 food and parcel delivery dropbox, designed by S P Setia.

The units will be future-proof and equipped with smart features such as a smart lock for enhanced security, a solar photovoltaic conduit for clean energy, and electric vehicle (EV) ports to support the adoption of electric cars.

The township launched Anggun Villa in December 2023, offering semi-detached homes that are almost fully taken up, Razly said.