Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Friday, January 11, 2008

RM400mil sales target for The Regalia

30% of Mayland project sold before launch

KUALA LUMPUR: Malaysia Land Properties Sdn Bhd (Mayland) targets sales of RM400mil to RM450mil this year for The Regalia serviced apartments, its biggest project for the year.

From left: Malaysia Land Properties group project director Ho Chee Leong, Tan Sri David Chu and wife Puan Sri Nancy Chiu at the launch of The Regalia.

Marketing manager Michelle Won said 30% of the 1,033 units had been sold before the launch.

“We expect 60% to 70% to be taken up by year-end,” she said after the launch of The Regalia yesterday.

The Regalia will have a gross development value (GDV) of RM600mil with a net lettable area (NLA) of one million sq ft when completed in 2011.

Located on a 2.5-acre site, it will consist of three blocks with distinctive themes – Madison, Melrose and Milan – and strategically placed between Kenny Hills and KL City Centre.

Vice-chairman Tan Sri David Chu said: “Young adults and families can easily be targeted as we have a combination of lifestyle studios and family serviced apartments that range from 500 to 1,871 sq ft, duplexes from 2,562 to 4,124 sq ft and a 10,012 sq ft penthouse to suit their needs.”

Mayland will launch three more projects this year – 72 shops offices and 1,500 serviced apartments in Plaza Damas phase 3, 400 units of Sri Putramas 3 condominiums and a high-end condominium project in Mont’ Kiara.

“We hope to launch our Plaza Damas project in March and Sri Putramas in Jalan Kuching in May,” Won said.

The projects would have an estimated GDV of RM600mil and RM300mil respectively, she added.

Meanwhile, Mayland hopes its Mont’ Kiara project will be launched by September, pending approval from the Government, Won said.

The project, on a 1.79-acre site, would have an estimated GDV of RM550mil, she added.

Won noted that Mayland had 400 acres of land left for future projects.

Mayland owns several prime properties in KL, including ParkView, Windsor Tower, Waldorf, Sri Putramas 1 serviced apartments and condominiums, and in Johor Baru.

By The Star

No comments: