Al-Hidayah Daewoo Development's Olive 108 to launch on Feb 26

KUALA LUMPUR: Al-Hidayah Daewoo Development Sdn Bhd expects its Olive 108 development, a wellness and medical hub along Jalan Ampang in Kuala Lumpur, to yield high rental and capital appreciation of more than 20% upon completion, following its positive outlook of the property market and unique development concept.

According to Al-Hidayah Group of Companies' president Baharin Ayob via a press release on Feb 24, the RM1 billion project has also seen overwhelming response based on the registration (50% for all units in Olive 108).

Olive 108 comprises a serviced apartment block (210 units), three condominium blocks (258 units) and a 20-storey office tower. The apartment unit will have built-ups between 673 sq ft and 1,528 sq ft, to be tagged at RM595,400 to RM1.7 million after 5% discount for early birds. The developer is looking to sell the office tower en-bloc.

Meanwhile, the condominium units range from 1,657 sq ft to 2,475 sq ft. The net prices for the condominium unit after 5% discount are from RM1.69 million to RM2.77 million.

“These homes blend harmoniously with the cultures of the land, with special attention given to building orientations normally found in the Middle East. Offering residents fine resort living within the comfort of their homes, it hosts a myriad of facilities usually accorded to high class condominium development,” he noted.

Baharin said the project, which will be launched on Feb 26 and Feb 27, is the first of its kind in the area, and the development will be constructed by international contractor Kuk Dong Engineering Construction Ltd, with a target completion in April 2013.