Aranda Nova's 1st phase is 80% sold within a year

KUALA LUMPUR: Ipoh-based developer Signature Landmark Property Sdn Bhd will officially launch its mixed development project, Aranda Nova in Cameron Highlands, on Sept 16.

According to its sales & marketing executive Eddie Aw, the first phase, which comprises 214 units of one-bedroom fully furnished serviced apartments with built-ups from 509 sq ft, has already seen a 80% take-up rate since its soft launch in September last year.

Buyers, he said, were mainly locals as well as those from Ipoh, Penang and Kuala Lumpur.

The studio units are priced at an average of RM218,000. It was earlier reported that the gross development value of the first phase is estimated at RM94 million.

Aranda Nova, situated on a 5.54-acre leasehold tract will consist of a hotel, serviced apartments and commercial units. There will be a total of 79 commercial units in the development.

The project is situated in Kea Farm, next to the Equatorial Hotel in Cameron Highlands, Pahang.

“Currently, construction works are 20% completed and we expect the first phase to be completed in December 2012. After that, we may launch our second phase but we are undecided if it will be our hotel or 3-bedroom apartments,” he told theedgeproperty.com.

However, he was unable to reveal indicative prices for the 3-bedroom apartments (unfurnished) but said that it would follow market rates, which are above RM350,000. There will be a total of 229 3-bedroom apartments available.

On the company's hotel, Aw said it would likely be a 120-room three-star hotel, which the developer plans to manage in its first foray into hotel management.

The developer has completed projects in Ipoh, Perak including commercial developments such as Greentown Nova and Bercham Nova.