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KUALA LUMPUR: OSK Property Holdings Bhd will build its second Mirage series of upscale homes in Jalan Yap Kwan Seng near the Kuala Lumpur City Centre (KLCC).
Known as Mirage Residence, the project is one of the few new luxury condominiums to come up in the city centre of late, said OSK Property senior public relations and communications executive Emily Cheng.
About 500 prospective buyers turned up at the preview of the project last week.
“The unit sizes range from 850 to 3,100 sq ft, with the average unit size being 1,400 sq ft. As our units are smaller than what is generally available currently in the area, we are confident of Mirage Residence’s performance,” she told The Edge Financial Daily.
In the KLCC area, high-rise residential units typically start from 2,000 sq ft. Prices of Mirage Residences are likely to fall within the RM1,100 to RM1,200 psf range, she added.
There will be only 102 units — two of them are penthouse duplexes with built-ups of 2,980 sq ft and 3,057 sq ft — bringing the gross development value (GDV) of the project to RM175 million.
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| The condo features a saltwater swimming pool. |
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| An artist's impression of Mirage Residence. |
The condominium block will stand at 25 storeys and will be on a freehold tract measuring just under an acre. Among the facilities are a saltwater swimming pool and a sky park.
The first in OSK Property’s line of Mirage projects is Mirage by the Lake in Cyberjaya which comprises 413 condominium units, 26 three-storey lake villas, 39 two-storey link villas and three garden villas.
The low-rise freehold development has a GDV of RM350 million and will come up on a 12.14-acre (4.86ha) tract in Perdana Lakeview West in Cyberjaya.
Its first phase comprising 125 condo units has achieved over 80% sales so far, said Cheng.
The units range in size from 1,102 sq ft to 2,202 sq ft and are priced between RM582,000 and RM1.07 million. Phase 2 is scheduled for launch after Chinese New Year next year. It will feature condominium units with smaller built-ups, as well as garden and lake villas.
“We did not release the smaller condominiums first as we wanted to give buyers something to look forward to in the project’s second phase,” Cheng said.OSK Property intends to promote Mirage by the Lake in Singapore later this year, she added.
On the redevelopment of the Atria Shopping Centre in Damansara Jaya in Petaling Jaya, Cheng said the demolition of the car park has begun. The shopping centre will be redeveloped into a RM1 billion project comprising two 16-storey office towers atop a five-level retail podium.
This article appeared on the Property page, The Edge Financial Daily, October 7, 2011.
