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Monday, January 21, 2008

Mideast investor keen on project

D’Rapport Condominium project

Negotiations are under way with a Middle Eastern investor for the en bloc sale of the two remaining blocks of the upmarket D’Rapport Condominium project along Jalan Ampang here, said Acmar International group chairman Datuk Abdul Samad Maharuddin.

Datuk Abdul Samad Maharuddin (2nd from left) exchanging documents with Sabah Development Bank Bhd chairman Peter Siau after the signing ceremony. On the left is Acmar International managing director Datuk Steven Tee

The project, jointly undertaken by Permodalan Negeri Selangor Bhd and Perspektif Masa Sdn Bhd, a member of Acmar International, comprises five blocks offering a total of 1,099 units.

Sales had been very encouraging since the first three blocks (A, C and E), comprising 689 units, were soft-launched last month, Abdul Samad said.

“We expect to sell 40% of these units by end of this month,” he said at the signing of an agreement of RM125mil credit facilities between Perspektif Masa and Sabah Development Bank Bhd last Friday.

The current selling price for D’Rapport averages RM700 per sq ft, and the units are priced from RM700,000 each.

D’Rapport, located within the vicinity of several embassies, international schools and hospitals, is just a few minutes' drive to the city’s business district and landmarks like the Petronas Twin Towers.

By The Star

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