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PETALING JAYA (Feb 11): WZR Property Sdn Bhd will be launching two new phases of its Bukit Jalil development — The Earth, by the end of next month, according to the company’s director of development Ibrahim Rahmad.
“The upcoming phases of The Earth includes a Federal Territory affordable housing project, Impiana Sky Residensi, and Paraiso condominium project,” he said.
The Earth development is situated on an 11.83-acre leasehold land in Bukit Jalil, near the National Sport Complex. The development will be carried out in four phases and has a gross development value (GDV) of RM900 million.
The 2.2-acre Impiana Sky Residensi is the second phase of the 15-acre leasehold development, which comprises 508 units in a 40-storey block.
“Each unit will have a built-up of 850 sq ft, with three bedrooms and two bathrooms, priced at RM300,000,” Ibrahim told City & Country recently.
Facilities include 24-hour security, a gymnasium, multipurpose hall, recreational area and nursery.
Paraiso condominium is the third phase of The Earth. It offers 762 units in two 40-storey blocks, with built-ups ranging between 960 sq ft and 1,480 sq ft. Ibrahim said the company has previewed Paraiso at the end of last year and received good response as 80% of the units were booked.
“The units are priced at RM550 psf. Compared with the average selling price of about RM800 psf for properties in the vicinity, our units are at a 40% discount and this offers room for price increases when the project is completed in 2021,” he noted.
Meanwhile, phase one of The Earth, which was launched in end-2011, has seen its 46 units of 4-storey shopoffices completed in 2015.
Ibrahim said all the units are fully sold and the occupancy rate stands at 60%.
“We can see that business and people are coming in and we believe it will be a more happening place when Bukit Jalil City is completed,” he added.
