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Monday, March 12, 2012

Proud moment for developer

Matter of significance: (from left) CK Designworks Managing Director Domenic Crisante, Rahadian and Siti officially launching the event together with Magna Prima Berhad Executive Director Datuk Mohd. Rizal Abdullah (right).

PROPERTY developer, Magna Prima Berhad officilaly announced its first step into the regional market with the launch of its maiden overseas project, The Istana recently.

The Istana is a 25-storey single tower residential apartment situated on A’Beckett Street in Melbourne, Australia — a prime address in the heart of Melbourne’s Central Business District.

Datuk Siti Nurhaliza officially launched the event in JW Marriott Hotel KL.

Siti also purchased the “royal address” at The Istana, Melbourne.

Magna Prima Berhad’s executive director Datuk Rahadian Mahmud said: “The launch of The Istana is highly significant as it marks our foray into the regional market. In fact, this maiden regional project actually expedites our 10-year vision for a regional presence.”

Formerly known as Dynasty Living, The Istana spreads over more than 27,000sq ft and has 320 units comprising studio units, apartments and double-storey penthouses.

The name change was a strategic move to better reflect the character of the property and to add a touch of Malaysia.

To date, The Istana has attracted a 62% take up among Australian and other international buyers. The remaining 38% (120 units) will be marketed to Malaysians and expatriates living here. The units are priced from A$340,000 (approximately RM1.1mil) and are targeted for completion in 2014.

By The Star

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