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Saturday, December 19, 2009

MK Land to build more high-end homes

The Rafflesia by MK Land.

MK Land Holdings Bhd plans to transform Damansara Perdana in Petaling Jaya into a more high-end area by focusing on building luxurious landed properties in a location known predominantly for its high-rise condominiums.

Chief operating officer Fatimah Wahab tells StarBizWeek through an e-mail recently that the company will be pushing for more high-end residentials after receiving positive feedback from buyers of The Rafflesia that they would like to see more landed units.

The Rafflesia, which offers modern contemporary three-storey semi-detached houses tucked in an exclusive enclave within Damansara Perdana, is the first landed property in that location. “We are confident that the demand for landed property in Damansara Perdana is increasing. This is based on the great respond we had with Rafflesia,” she says.

The company sold 84% of its units within two days when it held a second launch of Rafflesia recently. With a built-up area of between 3,861 sq ft and 4,668 sq ft, prices start from RM1.4mil. The company expects to attract high net worth owner-occupiers, existing MK Land buyers as well as foreigners from Japan, South Korea and Australia.

“Apart from high-end products such as The Rafflesia, our investors have also shown interest in our service apartment development, Metropolitan Square Residences. That project is about 65% sold. Prices range from RM250,000 per unit,” she says.

The core products for MK Land are The Rafflesia, Armanee Terrace condominiums and Metropolitan Square (block C) condominium. They are expected to enhance profitability under the developer’s five-year roadmap.

MK Land believes its concept of green, clean lush living areas will be able to woo more buyers and investors into that location, particularly expatriates.

Damansara Perdana is a mixed development comprising commercial and residential properties on a 750-acre integrated township that is destined to be a premier centre for business and living in what is currently known as PJ north.

It is located adjacent to highly popular Mutiara Damansara, which is developed by the Boustead group. Over the years, the M K Land group has sold more than 40,000 housing units exceeding RM5bil, including properties in Damansara Perdana.

By The Star (Edy Sarif)

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