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, October 28, 2011

Garden-themed M City sold out

Mah Sing Group has garnered RM412mil sales from its garden-themed mixed development, M City Jalan Ampang which is located less than 5km from KLCC.

First previewed in June this year, all 401 units of designer SoHo (small office, home office) suites worth RM295mil have been taken up.

Response to the 24 retail units worth RM117mil launched a few weeks ago has also been overwhelming, with the 15 units of three-storey boutique retail, four units of single level retail, four kiosks and supermarket fully sold.

The 39,000sq ft supermarket was acquired by gourmet supermarket chain Village Grocer.

“The location and concept of M City dovetail with the business strategy for our gourmet supermarkets,” said Village Grocer managing director Ong Kim Too.

“We operate in prime developments as anchor retailer/tenant, at sites with a concentration of our target customers,” he added.

A mixed development comprising designer SoHo suites, residential suites, sky villas and boutique retail, M City Jalan Ampang which sits on a 2.02ha freehold site has an estimated gross development value of RM1.4bil.

Located along the famed Embassy Row, M City is a stone’s throw away from Ampang Point which has a proposed MRT station, and is less than 2km away from Gleneagles Hospital, Great Eastern Mall and M Suites. With such an attractive location, there is a catchment of more than 500,000 from the surrounding matured developments.

Mah Sing group managing director Tan Sri Leong Hoy Kum said, “M City is Kuala Lumpur city’s one and only garden city community, and the first ever to boast multi-level thematic hanging gardens in Malaysia.

“We have various thematic hanging gardens spanning over 1.61ha for every sixth floor, with concepts such as sky garden, tropical sanctuary, spring park, bamboo groove and lagoon park which has become the talk of the town and a key selling point. A four-tier clubhouse houses a gymnasium and an infinity pool with an excellent city and lake view has been planned for the enjoyment of residents. The project is also designed to achieve the Green Building Index (GBI) Gold standard by increasing the efficiency of resource usage.”

More than 2,500 parking bays have been allocated for residents, tenants and visitors of M City, with separated residential and commercial parking lots and parking entry points.

He added, “We have carefully planned the project and most of the units are smaller sizes to meet current market need. With such good response to our SoHo and retail units, we intend to launch our residential suites in our sales gallery in Icon Jalan Tun Razak soon.”

The new launch are residential suites priced from RM550,000.

Buyers shall be spoilt for choice with the numerous configurations available, from studio units (506sqft) priced from RM550,000, 1 bedroom (674sqft), 2 bedroom (886sqft) and 3 bedroom units (1,653sqft). All these options are also available as duplex units to ensure that discerning buyers can get exactly what they need.

These units are semi-furnished and amongst the furnishings and electrical appliances to be provided by Mah Sing include bedroom wardrobe and vanity cabinet with mirror, kitchen cabinets, air conditioners, refrigerator, washer cum dryer, microwave oven, built in hood and hob as well as water heaters. Mah Sing shall also absorb the legal fees for sales and purchase agreement.

By The Star

No comments: