KUALA LUMPUR: The developer of St Mary Residences in Kuala Lumpur is collaborating with XTRA, a premium branded furniture importer and retailer, to offer furniture vouchers to new purchasers of units in the serviced apartment project.
“As we approach the handover next year we have been receiving numerous enquiries from existing and potential purchasers on possible furnishing solutions. As a response to this demand, we have tied up with a reputable supplier to provide attractive furniture packages to our St Mary buyers,” said Eastern & Oriental Bhd (E&O) deputy managing director Eric Chan Kok Leong. The development is a joint venture between E&O and the Lion Group.
The offer is for the 15% remaining units available for sale, most of which are bumiputera quota units.
The promotion began Nov 15 and ends Dec 31. To be eligible for the vouchers worth between RM70,000 and RM1 million, potential buyers must be registered with XTRA on its promotional website prior to their purchase.
All transactions must be made via Mergexcel Property Development Bhd, a joint-venture company between the Lion Group and E&O that is undertaking the St Mary Residences project.
The serviced apartment project comprises 457 units priced from RM1.5 million to RM11.08 million with sizes from 1,131 to 6,759 sq ft. Buyers have a choice of six designs from Studio Suites, City Suites, Metro Suites and Rooftop Penthouses.
|With a gross development value (GDV) of RM780m, St Mary Residences is about 70% complete.|
With a gross development value (GDV) of RM780 million, St Mary Residences is about 70% complete, putting it on track for completion in mid-2012. Developed on the former site of St Mary’s School in Kuala Lumpur’s Golden Triangle, St Mary Residences comprises three towers, one of which is slated to be a luxury service residence run by a renowned hotel manager.
E&O has a total of 1,905.5 acres (771ha) of landbank in Peninsular Malaysia with an estimated potential GDV of RM20 billlion — 330.5 acres in Kuala Lumpur, 1,365 acres in Penang and 210 acres in Iskandar Malaysia, Johor.
Looking ahead, Chan said E&O has several projects set to launch in the next 12 to 18 months. The Andaman Series condominiums in Seri Tanjung Pinang, Penang, will be open for sale in 1Q12. In the south, the group is looking to introduce a wellness township in Iskandar Malaysia in 4Q12. The mixed development will comprise terraced and semi-detached houses, bungalows, serviced apartments and condominiums, wellness centres and retail and commercial properties.
The developer’s upcoming projects in Kuala Lumpur City Centre in Jalan Yap Kwan Seng and in Kemensah Heights are in various stages of planning.
This article appeared on the Property page, The Edge Financial Daily, December 2, 2011.