KUALA LUMPUR (Nov 25): Kedah-based developer JKG Land Bhd’s flagship development in the Klang Valley, The Era Duta North, has received encouraging response with 50% of its 470-unit Block A booked within two weeks.
“We are quite surprised by the public response in this subdued market. When our sales gallery opened its door two weeks ago, quite a number of interested buyers walked in and registered their interest,” its managing director Datuk Teh Kean Ming told TheEdgeProperty.com after a preview event of the project yesterday.
Teh added that the company has received over 5,000 registrants, online and offline, within one month of introducing the 2,913-unit serviced apartment project located on Jalan Segambut, Kuala Lumpur.
The Era Duta North is slated to be officially launched in the first quarter of 2017 pending approval from the authorities. Those who have expressed their interest or booked will have priority to purchase the units, he said.
The Era Duta North is the maiden development of JKG Land, which is owned by business tycoon Tan Sri Robert Tan Hua Choon who is also the chairman of the company.
The 14.86-acre freehold mixed development comprises six serviced apartment blocks of 53 to 63 storeys on top of a 3-storey 277,000 sq ft retail podium and an 8-storey car park podium. It has a gross development value of RM2.1 billion.
The first two serviced apartment blocks are expected to be completed by 2020.
The serviced apartments have built-ups ranging between 631 sq ft and 1,300 sq ft, with an estimated average selling price of RM600 psf.
Teh noted that the project’s freehold tenure and strategic location have attracted the attention of interested buyers.
“Futhermore, we are planning to build a link bridge across Sungai Keroh to Jalan Putramas which could provide convenience to the residents to drive from The Era to the Solaris Dutamas area,” he said.
He envisioned the Segambut area will gradually evolve into a more vibrant area as more development takes place.
“Segambut is an old area, we will be the first [developer] to revitalise this underserved area especially for those who are looking for an upgrade as well as existing residents who want to purchase a unit for their children,” he added.
This story first appeared in TheEdgeProperty.com pullout on Nov 25, 2016, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.
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