Mas Kiara project in TTDI completion in mid-2010

KUALA LUMPUR: The completion the Mas Kiara Residences condominium project in Taman Tun Dr Ismail, Kuala Lumpur has been delayed to the middle of 2010 owing to “various technical aspects” barring the way, according to an internal source.

The previously-abandoned project was expected to be completed in late-2009 or early-2010. According to developer Intan Permata Properties Sdn Bhd, demand for the units have been “overwhelming” and had seen “strong response from buyers” but it refrained from revealing the take-up rate.

The source told theedgeproperty.com that progress was smooth on the development and painting of the building have begun.

“We will have an official launch of the project after it is completed,” said the source.

Intan Permata took over the project in 2007 after the previous developers, Pinggir Kiara Sdn Bhd, fell into financial difficulty in 2003.

Located at the corner of Jalan Datuk Sulaiman and off the Penchala Link, the project has reportedly been in a semi-completed state for over a decade.

As it sits on a 3.35-acre freehold plot of Malay reserve land believed to be owned by Kedah royalty, buyers of the condominium units are required by law to be bumiputeras.

When completed, the development will comprise two 16-storey towers offering 242 3-bedroom 2-bathroom standard units in addition to four penthouse suites. The standard units are sized from 1,281 to 1,539 sq ft and are priced from around RM345,500.

Meanwhile, the penthouse suites are sized from 3,000 to more than 5,000 sq ft, with indicative tags of RM2.3 million and above.

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Mas Kiara Residences project in TTDI, picture taken end-September 2009 by Kenny Yap/The Edge