I&P’s shop office launch hits 60% sales

PETALING JAYA (July 24): I&P Group Sdn Bhd’s 2-storey shop offices in Alam Damai, Cheras, has been 60% taken up. Damai Circles Business Suites was launched on July 8.

I&P group marketing manager Ruzaimi Mohmad tells The Edge Property that the project’s main target market comprises businessmen from Cheras and its surrounding areas.

Damai Circles comprises 54 units of 3-storey shopoffices. Selling prices are between RM1.9 million and RM5.09 million. The units have built-up areas of between 4,207 sq ft and 11,671 sq ft.

The leasehold project has a gross development value of about RM120 million and is expected to be completed by August, 2018.

Alam Damai is a 641-acre township in Cheras. The site of Damai Circles is about 15km from the city centre and is accessible via the East-West Link, Kesas Highway, Jalan Cheras-Kajang and the Middle Ring Road 2.

Ruzaimi says I&P will absorb the 6% Goods and Services Tax on each purchase.

I&P will be launching more projects from the third quarter of this year in Klang, Puchong, Shah Alam and Kajang. There will be a total of 891 landed and high-rise residential units on offer worth RM797.8 million, and 21 units of shop lots worth RM24 million.

This article first appeared in The Edge Property pullout, on July 24, 2015.