PETALING JAYA: Mitraland Group plans to launch the second phase of The Cascades @ Kota Damansara in Petaling Jaya, Selangor within the next two months.

The developer said that indicative prices for the second phase, which comprises apartment units, are between RM550 psf and RM600 psf.

Its sales and marketing manager Eddie Wong told theedgeproperty.com on Monday, Oct 18 that the first phase of The Cascades have been fully sold since it was previewed in August. The first phase comprised 40 units of 4- and 5-storey shop offices that were tagged between RM3.2 million to RM10 million.

The leasehold site of the project is situated next to Giant hypermarket and is opposite Encorp Strand in Kota Damansara. The 4.7-acre mixed development will consist of retail, commercial and residential components, and has an estimated gross development value (GDV) of RM350 million.

The third and final phase of The Cascades @ Kota Damansara is expected to be launched by the first quarter of 2011.

Mitraland has completed more than six projects, mainly within the Klang Valley, worth over RM1.2 billion. Other residential projects by the developer include the Kiara1888 along Jalan Kiara 3 in Mont'Kiara, and The Oasis @ Cheras in Taman Cheras Utama.

Kiara188 is the developer's first luxury high-rise residential development with a GDV of RM10 million. The Oasis @ Cheras is an exclusive freehold gated-and-guarded landed residential project.

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