KUALA LUMPUR: CPI Development Sdn Bhd’s maiden project called Avantas coming up on a one-acre (0.4ha) freehold tract along Old Klang Road has seen 75% of its 198 serviced apartments sold since its soft launch just after the Chinese New Year festivities in February.
The serviced apartments have built-ups from 692 to 1,249 sq ft and come with air conditioner units, water heaters and one or two parking lots each. They are priced from RM502,000 to RM877,000, CPI director Yeap Teck Hooi told The Edge Financial Daily.
There are also five commercial units on the ground floor with built-ups from 1,839 to 2,716 sq ft that the company will keep for the time being.
“The units have accessory parcels that are suitable for outdoor dining. We are looking for suitable tenants with good food and beverage (operations) track record,” said Yeap.
Avantas is a 27-storey development that comprises a basement car park, six floors of car parks, one floor of commercial units, facilities on the seventh floor and serviced apartments from the eighth floor onwards.
Some of the facilities are swimming pools, outdoor aerobics and yoga space, gymnasium, outdoor event area, barbeque area, decks, kindergarten and laundry service.
Aiming for a Green Building Index (GBI) Silver certification, the green features of Avantas include low-emissity glass to reduce heat gain of units directly facing the sun, rain water harvesting to irrigate landscaped areas, energy-efficient lighting, and architecture that enables natural cross-ventilation on the facilities
This development is the first from CPI, which counts fibre-based products manufacturer Wang Zheng Bhd chairman Thomas Chung as one of its investors.
Avantas is expected to be completed in 2016.
This article first appeared in The Edge Financial Daily, on May 17, 2013.
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