KUALA LUMPUR: Bandar Raya Developments Bhd (BRDB) expects its RM800 million Verdana project at north of Mont' Kiara to set a benchmark in lifestyle development in the mid-range residential segment in Kuala Lumpur.
Verdana is an extension of BRDB's brand of cosmopolitan lifestyle developments and is the company's first foray into the mid-range segment.
BRDB, which has been developing land in Bangsar for 45 years and luxury apartments such as One Menerung and The Troika, is expanding its wings to build products of a different price range.
"We are now looking to build properties within the affordable price range, yet offering the lifestyle that we have been providing in all our other developments," BRDB chief marketing officer KC Chong said in an interview with Business Times.
Verdana will be developed in two phases over 4.4ha. The first phase comprises two 25-storey towers and a six-storey block with 298 units.
It is priced at an average RM580 per sq ft with unit sizes ranging from 1,450 sq ft to 3,020 sq ft.
Chong said the development is unique as the first six floors of each building, including the six-storey block, offers garden villas.
He said the villas, with sizes ranging from 2,400 sq ft to RM3,020 sq ft are selling from RM1.5 million to RM1.9 million each and 30 per cent have been sold since end July.
"Verdana has attracted various category of buyers, namely owner-occupiers, expatriates living in Mont' Kiara and local investors as well as from Europe. They love the concept and design," Chong said.
Chong said 70 per cent of the project will include landscape garden, recreational facilities and water features. The bathrooms and kitchen will also be fully fitted with branded appliances to value add on the project, he said.
Phase one was launched in early August and 60 per cent of the 298 units have been snapped up.
Chong said phase two will feature two towers and a block for garden villas, offering more than 300 units. It is slated to launch by end-2012.
By Business Times