Share
KUALA LUMPUR: TA Global Bhd has begun releasing the first residences for sale at its 48-acre Damansara Avenue project in Bandar Sri Damansara.
It saw a 50% take-up for the first release of Azelia Residence serviced apartments during a priority preview on May 7. The 250-unit apartment is the maiden residential phase of mixed commercial development Damansara Avenue.
The first release comprised 101 large-sized units ranging from 1,711 to 3,692 sq ft, offered during the priority preview to customers who had registered their interest earlier, managing director Datin Alicia Tiah told The Edge Financial Daily recently.
The remaining units ranging from 614 to 1,300 sq ft will be released soon in another priority preview to loyal customers, she said.
Prices ranged from RM351,000 to RM2.77 million, with a 5% discount on bookings made during the priority previews. In addition, legal fees were waived for the sale and purchase agreement (SPA), deed of mutual covenant (DMC) and stamp duty and loan documents.
The larger units offered during the first release came with a designer kitchen, selected appliances, split air-conditioning units for the living room, dining area and bedrooms, shower screen and hot water storage tank where applicable.
Comprising one 10-storey and one 30-storey block, Azelia Residence will be built on a 3.13-acre site and has an estimated gross development value (GDV) of RM210 million, said Tiah.
 |
 |
| Azelia Residence comprises a 10-storey block and a 30-storey block of serviced residences with condominium facilities. | |
The serviced residences are targeted at young professionals, upgraders and empty-nesters, she said.
The homes will feature condominium facilities such as a landscaped park, swimming pool, pool pavilion, playground, barbecue area, squash court, basketball/badminton court, sauna, aerobics studio and gym.
It will be connected via walkways to the seven-acre linear park in the development and Ativo Plaza, an office, retail and F&B centre launched in August last year. Ativo Plaza is 90% sold. The 8-storey block has an estimated GDV of RM205 million and will be built on 5.73 acres. Its 198 units of office suites have built-ups from 547 to 4,094 sq ft and are priced from RM266,000 to RM2 million. The 43 retail units have built-ups of 1,415 and 2,692 sq ft.
The next launches in Damansara Avenue will comprise 278 units of high-rise and low-rise residences with sizes from 900 to 2,000 sq ft as well as two blocks of SoHos, said Tiah. The SoHo block will have a neighbourhood retail podium to complement Ativo Plaza and the nearby residences. The launch dates have not been set yet.
Located on a 48-acre freehold tract, Damansara Avenue has a gross development value (GDV) of RM3.8 billion. The mixed development will be built around the linear park which will act as the main community space. Besides offices and residences, the development will also feature a proposed hotel, a community centre and a mall. Damansara Avenue is expected to be developed over a decade.
This article appeared on the Property page, The Edge Financial Daily, May 27, 2011.
