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Sunday, March 30, 2008

City condos receiving youthful response

You only have to look to UDA Holdings Bhd's Gaya Bangsar condominium in Kuala Lumpur to see the penchant among youthful urbanites for city living.

Just weeks after the project's official launch in January, all its 285 units have been sold to the " young and upwardly mobile crowd".

According to the developer, demand was driven by the city's hip and affluent crowd for trendy, avant-grade homes in vibrant, prestigious locations.

The up-and-coming 34-storey Gaya Bangsar is being built on 1.27 acres beside Dataran Maybank along Bangsar's Jalan Maarof and near the Jalan Telawi nightlife hub, Bangsar Shopping Centre and MidValley City. It is also close to the city's main transportation hub of KL Sentral.

Choice of units ranged from 671 sq ft studios to 1,610 sq ft three-plus-one bedroom units priced from RM 359,000 to RM 945,000, which would collectively generate a gross development value of RM155 million.

In keeping with style, UDA said all the units, which are expected to be ready by 2010, were designed with built-in kitchen cabinets and balconies overlooking either KL city, Damansara, Petaling Jaya or Seputeh.

Larger units would also come with private lift lobbies.

Earlier this year, another condominium targeting young and wealthy urbanites also experienced similar response.

One Jelatek by Tan & Tan Developments Bhd, situated at the fringe city enclave of Ampang, saw 90 per cent of its units sold within hours of its official launch, at prices equating to RM 460psf.

By New Straits Times (by Chris Prasad)

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