KUALA LUMPUR: More than half of Mitraland Group’s latest condominium project Vina Versatile Homes @ Cheras will be green and landscaped spaces.
The project, which is expected to be launched on June 8, will be built on a 7.5- acre (3.03ha) freehold residential site in Jalan Seri Taming in Cheras, Kuala Lumpur. It has a gross development value (GDV) of about RM300 million.
The development offers 474 units housed in three towers — Block A (17 storeys), Block B (26 storeys) and Block C (12 storeys). Built-ups are between 1,250 and 2,887 sq ft with a price tag from RM500 psf onwards.
According to Mitraland Group chairman Datuk Johan Ariffin, 60% of the land has been allocated for greenery and landscape. The condo offers a dual key concept for the 1,550 sq ft units.
Facilities consist of a forest walk with a 610m jungle-themed jogging track, gymnasium, tennis court, half basketball court, badminton court and play area. The development will also have a 50m resort pool with central floating deck and it is the first project in Cheras with an aqua gym.
Johan said based on public response, Mitraland is very optimistic about the sale of the development.
Since its preview in April, Vina has received over 1,200 registrations with 70% of Block B booked.
“The demand for property in Cheras is expected to rise, especially for high-rise developments due to the recent increase in land costs and property prices, the ageing of existing landed properties, the demand for gated and guarded residential projects, the new generation seeking better lifestyle living and more modern facilities as well as the rapid development of infrastructure,” he said.
Mitraland is also busy with the upcoming launch of phase 2 of its 16 Quartz project in Taman Melawati, Ulu Kelang in Selangor, on June 15 and 16.
Phase 3 will be launched at a later date. Phase 2 consists of 26 zero lot villas, and phase 3 offers 36 low-rise condominium units.
The two new phases have a combined GDV of RM110 million. Phase 1 was launched on Sept 29 and 30 last year with a take-up of 75% so far.
Mitraland Group was established in 1998 and has grown its portfolio to a value of more than RM650 million worth of projects. Its existing projects include Kiara 1888 in Mont’Kiara, The Oasis in Cheras and Sejati Hill Villa in Bandar Sungai Long, Kajang in Selangor.
This article first appeared in The Edge Financial Daily, on May 31, 2013.
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