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Friday, February 29, 2008

Lebar Daun brings affordable space to Shah Alam

An artist's impression of the Commerce Galleries at 121 D’Kayangan

The 4- and 5-storey Grade A Commerce Galleries at 121 D’Kayangan in Section 13, Shah Alam, offers space at affordable prices. The project is by Lebar Daun Development Sdn Bhd, which is also the developer of Bukit Bandaraya in Shah Alam, Taman Pahlawan in Telok Panglima Garang, and Taman Dato Demang in Puchong.

Its marketing manager, Arman Putera Asmuni, said the first phase of the development has four blocks totaling 38 strata-titled units with enbloc built-ups of between 7,800 sq ft and 14,000 sq ft. Prices range from RM209,999 for a studio unit to RM4.1 million for a corner unit.

“The average rental rate for a 1,000 sq ft office space is about RM1,000 a month. The studio units in our project can be purchased with almost the same installments,” he told theSun, adding that about 20% to 30% of the units had been sold prior to the official launch.

He said the studio units are targeted at professional firms, while the larger units are suitable for financial institutions, telco centres, and car showrooms. “Due to their huge size, a car showroom would be able to fit in access of 20 cars, while a banking hall could have more than 20 counters in the larger units” he offered.

The development is located within the D’Kayangan township, which is just five minutes away from Shah Alam’s city centre and the Federal Highway, and enjoys good visibility from Tesco, Shah Alam Stadium and Kelab Shah Alam. The two future phases are set for launch in the middle and end of this year respectively. The project has a gross development value (GDV) of RM110 million.

Arman said the 165-acre leasehold township consists of mid- to high-end residential properties including semidee villas, cluster semidees and superlink houses. It will be fully completed in the next 10 years with a GDV of RM1.6 billion.

“We will make studies and launch our products according to the market,” he said.

He added that properties in Shah Alam attract Malays and non-Malays alike with the former purchasing for owneroccupancy and the latter buying for investment. “Properties in D’Kayangan have been experiencing capital appreciation of about 10% per annum. For instance, the subsale price of a 2- storey semidee is RM575,000 from RM500,000 two years ago,” he said.

Meanwhile, the group’s 300-acre Bukit Bandaraya township in Section 8, is currently 20% to 30% complete and handed over. Its latest launch of superlink houses, priced from RM295,000, has experienced a good take-up to date.

The group aims to launch its latest commercial project in Section 14, the Shah Alam Triple Tower, by the end of this year. It will comprise three office towers, a 5-storey shopping complex with a net lettable area of 500,000 sq ft and 2,300 parking bays. “The development is going to be a new landmark in Shah Alam and with a GDV of RM600 million, it is going to be the biggest commercial development in the area,” Arman said, adding that details such as the price and size of the office units are still being finalised.

By theSun

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