Avenue D’Vogue targets the young

PETALING JAYA: One Inspiration Development Sdn Bhd is bullish on the take-up of its newly launched SOHO development dubbed Avenue D’Vogue in Section 13, Petaling Jaya, as it targets the younger market.

According to a company spokesman “We are targeting first time home buyers and young investors. Traditionally, they would not be able to afford a 3-bedroom condo in Petaling Jaya, but with a price and built-up like ours, they can afford such a niche property,” he said.

Located near Jaya 33, the SOHO units are dubbed designer suites by the developer and are built on nearly an acre of leasehold land commanding a gross development value (GDV) of RM150 million.

The 16-storey tower has 360 units with built-ups ranging from 364 sq ft to 732 sq ft.

Prices for the units start from RM292,000 to RM600,000 or an average RM720 psf.

Facilities include a gym, swimming pool, barbeque area, children’s playground, concierge service, WiFi hotspot as well as a 3-tiered security system.

The swimming pool on the rooftop is designed like a ship as it is inspired by the movie Titanic.

Avenue D’Vogue also has one retail floor on the ground level but the number of units and there sizes have yet to be decided. The developer suggests a salon and a laundromat would be good tenants.

During a preview on Feb 19 for the developer’s existing clientele and Maybank Premier customers, Avenue D’Vogue received up to 2,000 registrations of interest.

The development is expected to be completed in 4Q14.

Avenue D’Vogue is developed by One Inspiration development Sdn Bhd a unit of Leadmont Development Sdn Bhd.

Other developments under the Leadmont banner include Leadmont Hill in Cheras and Amansiara in Selayang, Selangor.

Leadmont is also developing Centrestage, a mixed development near Avenue D’vogue. Centrestage is built on a 3.66-acre leasehold site with a GDV of RM500 million. It will include 33 retail duplex units, 352 hotel rooms, and 775 office suites in two blocks.

The office blocks are 11 and 14 storeys. Centrestage is expected to be completed in 1Q14.

The company also said it has 20 to 30 acres of prime land in the Klang Valley with future potential for commercial, residential, hotels and suburban shopping mall projects.

This article appeared on the Property page, The Edge Financial Daily, March 16, 2012.

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