KUALA LUMPUR: The second phase of Selayang Spring in Selayang, Selangor comprising apartments and a lifestyle mall will be launched mid-October.
The development's marketing agent, REI Properties Sdn Bhd's CEO, Dr Daniele Gambero, said Phase 2, also known as 'Cedar' has a gross development value (GDV) of RM115 million.
"We are open for bookings and we forecast the development to be sold-out within less than 12 months," he said during a media presentation on the new phase.
The project is developed by Barisan Tenaga Perancang (M) Sdn Bhd, a fully owned subsidary of construction group MASA Group of Companies.
The 23-storey building has three wings and will consist of 274 units ranging from 4 to 16 units per floor with sizes ranging from 586 sq ft to 2,783 sq ft. Targeted at young, middle class professionals, Cedar offers 10 different layouts. .
Selayang Spring is expected to be developed in four phases on a 10-acre site.
Gambero said the official launch for Cedar would take place on Oct 15, 16 and 17.The first 70 units will be at a discounted price of RM290 psf.
There will also be a retail launch of a 2.7-acre lifestyle mall. "The mall will have four floors and one floor is to be fully occupied by a movie theater... the main attraction of the shopping mall will be a multiple-screen cineplex with the entire shopping mall designed and themed as a "movies' world"," he said, adding that the other three floors will consist of 97 retail lots.
Phase 2 is expected to be completed by end of 2012 or early 2013. On developments on the third and fourth phase, Gambero said details have yet to be finalised.
To recap, Phase 1 of Selayang Spring, known as Damar with 284 units has been 100% sold by August this year since it was launched in 2009. Damar, with a GDV of RM81.5 million is to be completed by early 2012.