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Wednesday, August 25, 2010

Sime's Oasis Square sees good take-up

Demand has been strong for Sime Darby Property Bhd's RM1 billion Oasis Square project, the central business district of the Ara Damansara township in Selangor.

It has three 12-storey corporate office towers; five blocks of 10- to 12-storey retail outlets and office suites, called The Capital; two 10-storey serviced apartments, named Oasis Serviced Suites; and double-storey food and beverage kiosks with 15 outlets.

Managing director Datuk Tunku Putra Badlishah Tunku Annuar said the project has recorded impressive take-up rates since the launch of phases 1, 2 and 3 last year.

All the 288 shop-offices in Blocks A and B under phase one of The Capital development are sold. The take-up for Blocks C and D under phase three is 86 per cent and 93 per cent respectively.

Block E, which has some 88 units, is targeted to be launched in the last quarter of this year.

"The need for office space in prime locations is evident from the swift take-up of the business units," Tunku Putra Badlishah said.

The serviced apartment blocks with 326 units are 99 per cent sold at between RM440 and RM503 per sq ft. They were snapped up less than a year after its launch in April and May last year.

The one-bedroom studios, two- and 2+1 bedroom units range between 572 sq ft and 1,108 sq ft.

Upcoming launches include the Oasis Corporate Park, a mixed commercial development comprising office towers, retail space, serviced apartments, a hotel and a convention centre which is still in the planning stage.

Key products in the 306ha Ara Damansara project, launched in 1999, include the 400 resort condominium units under Ara Hill, the Seri Pilmoor semi-detached houses and bungalows, and the Ara Damansara Linear City.

Sime Darby Property has sold some 3,123 mixed development units, including double-storey link-houses, double-story semi-detached houses, bungalows, low- to medium-cost apartments and high-end condominiums.

By Business Times

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