[email protected] Park Bangsar achieves 65% take-up rate

KUALA LUMPUR: Saville @The Park Bangsar, a joint venture (JV) development between MKH Bhd and Amona Metro Development Sdn Bhd, has achieved a take-up rate of 65% since its official launch in March.

The development, in which MKH has a 60:40 share, is located on a 5.23 acres (2.1ha) of freehold land in Bukit Gasing with a gross development value (GDV) of RM300 million.

Saville @The Park Bangsar is made up of two 27-storey blocks comprising 408 condominium units and 18 units of 2½-storey villas.

The condo units have built-ups from 1,019 to 2,528 sq ft and the villas at 3,295 sq ft. Prices start from RM500,000 for the condos while the villas are priced from RM2.3 million to RM3.7 million.

Amona group general manager Che Hasnadi Che Hassan said the good take-up rate shows existing appetite in the market.

“The general notion might be that it is fairly saturated. However, our sales show otherwise, so we are happy. We strongly believe the location is a key feature of the development as it is centralised and close to major business activities as well as several big entertainment outlets,” he added.

Earthworks are 50% under way and Amona expects the development to be completed in 1Q15.

This article appeared on the Property page, The Edge Financial Daily, April 27, 2012.

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