Ativo Plaza sees 90% take-up rate

KUALA LUMPUR: Ativo Plaza, the first launch of Damansara Avenue in Bandar Sri Damansara, has seen a take-up rate of 90% within a day of its priority preview event on Aug 7.

The developer, TA Global, said that the phase comprises 198 office suites and 43 lifestyle retail units in an 8-storey building on a 5.73-acre area, but only the office suites are available for sale.

“The RM205 million project received an overwhelming response from registrants, with some queuing the night before just to secure their preferred unit. We have sold 90% of the office suites and we keep the retail units to control the tenant mix,” the statement added.

The size of office suites range from 547 sq ft to 4,094 sq ft, and are priced from RM266,000 to RM2 million. The retail units, meanwhile, have a built-up ranged between 1,415 sq ft and 2,692 sq ft. The buyers are mostly investors and professionals.

TA Global aims to launch the first residential phase, comprising of 250 units of high- and low-rise residences with sizes from 600 sq ft to 3,400 sq ft by the year-end through a balloting process.

It added that more than 4,500 registrants for the residential phase have been received.

The freehold Damansara Avenue is an upscale mixed development spanning some 48 acres of freehold commercial land in Bandar Sri Damansara, which was acquired at RM95 psf in February 2006.

Formerly known as Seri Suria, the RM3.8 billion project will comprise low-rise and high-rise residential apartments, SoHo suites, offices, retail and F&B outlets, a hotel, community centre and mall, and will be developed around a 7-acre linear park accessible to the public.

This is the developer’s largest project thus far.