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Friday, October 26, 2007

The Avare condominiums sold out

By The Star

The last Avare condominium unit was sold at RM2,100 per sq ft, from an average price of RM1,350 per sq ft when it was launched early last year.

PETALING JAYA: Second Board-listed Magna Prima Bhd, which is repositioning itself as a developer, announced yesterday that it had completed the sales of The Avare, a 41-storey freehold condominium development located in KLCC.

In a press release, the company said the last unit was sold at RM2,100 psf, from an average price of RM1,350 psf when it was launched early last year. The Avare comprises 78 condominiums with built-up areas of 3,800 sq ft to 7,700 sq ft. The project’s scheduled completion date is next August.

Executive director Lim Ching Choy said the successful sales of the luxury condominiums took the firm closer to realising its repositioning as a developer.

Apart from The Avare, the firm’s property development arm, which contributed over 60% of turnover, is developing Magnaville in Selayang and Dataran Automobil in Shah Alam.

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