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Thursday, March 13, 2008

New residential development in Mont'Kiara

Artist's impression of Selayang Point, BTC Development's ongoing project

KUALA LUMPUR: Sabah-based developer BTC Development Sdn Bhd (BTC Development) will be launching its first Mont’Kiara residential development in Kuala Lumpur early next year.

BTC Development manager Hii Ik Tiing (pix) told theSun that plans for the 3-acre freehold project, located behind the Garden International School, has since been revised to comprise 30 strata-titled landed units and a clubhouse. He said the gross development value (GDV) is now approximately RM100 million with prices close to RM1,000 psf.

“We will submit the plans by next month and hope to get the development order by end of the year,” said Hii. The project was originally planned to be a RM70 million development comprising
30 units of 2- and 3-storey townhouses, semidees and bungalows to be sold at RM500 psf.

The new plan is based on a “modern rainforest” concept and the homes will be Mediterranean-styled homes. Each unit will be built according to the terrain, which is on sloping land. “Due to the shape of the land, each unit will be different from the other. That is the uniqueness of this development,” said Hii.

“We have also engaged a well-known foreign architect and designer to come up with the plan and we hope to sell it partly or fully furnished, complete with the interior design,” he also said.

Targeted at the local market, Hii said that the gated and guarded development would be extensively landscaped and some units, on which the terrain allows, would also feature lifts and swimming pools.

He also said the units will range between 2-storeys and 5-storeys, with built-ups between 3,200 sq ft and 7,000 sq ft.

BTC Development, previously known as Borneo Trading and based in Sabah, has so far developed small residential projects in Sibu and Kuching. Its first project in Peninsular Malaysia is the ongoing Selayang Point development in Selayang Jaya, a RM110-million mixed development.

According to Hii, Selayang Point is a freehold project comprising 375 condominium units and 71 retail shoplots housed in a 23-storey building, and 17 units of 3-storey shopoffices in a separate
building located in front of the high-rise building.

First launched in late 2004 is Tower A, which houses 189 condominium units, the retail shoplots and shopoffices. “The condos and retail shoplots in Tower A are both 90% sold and there is only one shopoffice unit left,” he said.

Meanwhile Tower B, comprising the remaining 186 condominium units, have been 60% sold since its launch in June last year, said Hii. “Our buyers are mainly from Selayang, Kepong and Rawang,” he added.

Sized between 1,010 sq ft and 1,141 sq ft, the 3-bedroom, 2-bathroom condos are available in four designs, with prices ranging between RM158,000 and RM220,000.

Meanwhile, located on the first two floors are the retail shoplots sized between 375 sq ft and 1,800 sq ft. These are priced between RM112,500 and RM1 million.

Maintenance fee, including sinking fund, is 12 sen psf. As for the shopoffices, which has a lot size of 24ft by 65ft, prices begin at RM988,000, with corner units costing RM1.8 million. A total of 150 basement and 70 outdoor parking bays will be allocated for the commercial units while the residential units would have 412 bays.

“Each unit comes with a parking bay and residents may purchase additional bays at RM10,000 each,” said Hii, adding that there will also be amenities such as a swimming pool, rooftop garden and children’s playground. Completion of the entire development is expected in June.

By theSun (by Yeong Ee-Wah)

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