Friday 8 March 2013

New Launch : Tropicana Gardens Phase 2 – Bayberry Serviced Residence by Dijaya

Tropicana Gardens Phase 2 – Bayberry Serviced Residence is located at Persiaran Surian, Kota Damansara. Tropicana Gardens offers a diverse component of high-rise serviced residence, shop offices, small-office-home-office (SOHO), a 5-level hybrid mall and 12-storey hotel, as well as a cinema. There are also nine blocks of 5-storey semi-detached shop offices, four units of 5-storey office buildings and a 7-storey SOHO tower, weaved together amid lush landscapes in the whole development.

The developer has recently launched the phase one in October 2012 and the upcoming Tropicana Gardens Phase 2 is launched on 8 March 2013. Tropicana Gardens Phase 2 is a 45-storey serviced apartments.

Summary details of this project : 
Total Entire Project Site : 14.64 acres
Tenure: Leasehold (expiring in 2106)
Upcoming launch : Tropicana Gardens Phase 2 by Dijaya


Architect: GDP Architects
Total units : 413
Sizes :

  • Studio: 600sf +/-
  • 2-Bedroom: 1000 sf +/-
  • 3-Bedroom: 1,300 sf +/-
  • 3+1 Bedroom: 1,600 sf +/-
Website : http://www.dijaya.com.my/ourprojects/future_commercial_tropicana_garden_intro.php

Review :
Location : Tropicana Gardens is easily accessible via major highways include the New Klang Valley Expressway (NKVE), the Lebuhraya Damansara-Puchong (LDP), the Sprint Highway and the Penchala Link.
Upcoming launch : Tropicana Gardens Phase 2 by Dijaya
Design : The facade is similar to Tropicana Gardens Phase 1 Arnica. The sizes are mostly small sizes units.
Price : The pricings at 1100psf for small units. They have successfully sold out everything in phase 1 at average of RM 800psf. http://bestpropertyreview.blogspot.com/2012/10/new-launch-tropicana-gardens-arnica-at.html

--> My Notes : 
Location is good with established location of Kota Damansara, broad catchment area with mainly 30’s age group.  An elevated Mass Rapid Transit (MRT) station is incorporated with direct linkage to the integrated development for maximum convenience. Choosing a unit for either for own stay or investment will be a good choice.   .   

New launch : Nova Saujana by Malton Group

New launch Nova Saujana was set on 1 March 2013. Located at Ara Damansara, Nova Saujana consist of 15-storey of serviced apartments. It is located near to Amaya Saujana. 
New launch : Nova Saujana by Malton Group

Summary details of this project : 
New launch : Nova Saujana by Malton Group
Total Unit : 193 units serviced apartments
Built-up area : 850sf, 900sf, 1300sf and 1400sf
--> Average Selling Price : 650psf
Webpage : http://www.novasaujana.com/index.html
Sales status : 70%


Review :
Location : This development is located in Ara Damansara, an upcoming locality and easily accessible to all major highways.
New launch : Nova Saujana by Malton Group
esign : Good unit sizes for small family.
Price : Reasonable pricing in the locality of Ara Damansara

Extrated from Star : Desa ParkCity’s Arcadia is set to be a big shopping attraction in west KL

Extracted from The Star: 
Saturday March 9, 2013

Desa ParkCity’s Arcadia is set to be a big shopping attraction in west KL 
By CHERYL POO

WHEN The Waterfront was conceived in Desa ParkCity's masterplan for its TownCentre about a decade ago, the idea behind the neighbourhood shopping mall was just to serve the residents' every day needs by way of a supermarket, several retail shops and banking outlets.
The modest centre, however, ended up drawing in crowds from distant locations such as Subang and Cheras instead of just neighbouring communities.
“We were surprised that the 150,000 sq ft platform could draw crowds from such a wide radius,” Perdana ParkCity group CEO Lee Liam Chyetells StarBizWeek. “That told us that we were doing something right and compelled us to keep developing the commercial area.”
“Timing was just right because you can't develop a hub like that ahead of its time. It wouldn't work out,” Lee says.
A modernistic town centre
Following the successful sales of The Breezeway, ParkCity has finalised plans for Arcadia, an 11.3-acre freehold compound of four-storey buildings comprising retail shops, offices and Soho (small office/home office) units that will be set within Desa ParkCity's TownCentre.
Artist impressions of Arcadia depict the eight-block complex much like a shopping courtyard of Western influence.
Lee and his team had reviewed traditional architecture and felt that it was necessary to design Arcadia based on local roots.
“What we have here are old British-style shophouses with a contemporary twist,” Lee says.
They took two years to design the project, and had pored over classic buildings overseas such as those in Munich, London and Paris, and consulted with foreign developers for inspiration.
“We scrutinised architecture in Singapore as they are known for preserving local heritage buildings,” he added.
“Lifewise, we want the same but with a fresh typology for the next generation.”
The ground and first floors, which include a mezzanine, will be used as retail, while the second floor will serve as office space and the third, two Soho units.
Average pricing for ground floor retail shops and offices is RM1,400 per sq ft, RM970 per sq ft for the first floor and RM715 per sq ft for the second.
Sohos are 700-1,000 sq ft, averaging RM750 per sq ft.
There will be 107 buildings with a total of 519 units of retail shops, offices and SOHOs for sale, with priority and a discount of 6% for buyers of whole buildings.
Arcadia's initial rows of shops, known as Gateway, encircle a centrepoint known as The Plaza, which will serve as a staging area for entertainment.
Patrons will notice the happenings at this hotspot as they walk past The Plaza to reach the other blocks on the retail walkway.
Lee's plans are to engage bands and other performers to keep patrons entertained.
“We will keep this up and people will love it. It will also be a great platform for budding musicians to showcase themselves,” he says.
The gross development value for Arcadia is approximately RM1bil, and RM4bil for the Towncentre in total.
Changing needs
Observing residential areas in the Klang Valley, Lee notes the increasing demand for a safe and green environment.
“People want open-air community environments where they can move around easily. This applies to hang-out places as it does residential areas. These elements are important everywhere but I liken these growing demands to the growing affluent population,” Lee says.
Townships like neighbouring Bandar Menjalara worked 30 years ago but today's crowds are asking for more, he adds.
“They want open spaces in a pedestrian-friendly and safe environment,” Lee said these features are promoted throughout ParkCity's TownCentre. “This is what sets us apart,” he says.
Upon completion in 2016, the sprawling 55-acre TownCentre will comprise, besides Arcadia, a hotel, an international school and a private hospital connected to a medical wellness complex. The entire Desa Parkcity is slightly less than 500 acres.
Pedestrian and cycling tracks for the entire vicinity will be built.
In the last two years, the 300-bed Sime Darvy Medical Centre and 54-classroom International School began operations.
The school, currently catering to 460 students, will be able to take in a further 540.
The medical wellness complex will entail spas as well as clinics and theatres for minor enhancement surgeries.
“Doctors and patients will not need to waste time on the road getting to different buildings for their procedures now that we are providing adjoining medical wings for their ease of facilities,” Lee says.
Parking issues solved
To alleviate the problem of insufficient parking spaces at commercial hubs, Lee has seen to the allocation of 1,920 parking bays for cars and 621 for motorcycles in two levels of basement across the centre.
This exceeds the DBKL minimal requirement of 18 bays for every building.
“Most shoppers are women, and how they feel about entering the basement carpark is important to us. Our basements will be brightly lit and closely monitored for our patrons' safety,” he says. “With this, we foresee no issues from traffic nor indiscriminate parking within our premises. We have addressed old shortcomings through this project.”
Priority sales for early registrants will be held late April or early May. Public sales will be in early June.

Thursday 7 March 2013

Upcoming launch : Setia Ecohill Phase 1 Terrace house

Setia Ecohill will be divided into 3 precincts. Precint 1 consists of double-storey houses and apartments. Precint 2 & 3 consist of bungalow & Semi-D and superlink and a clubhouse, approximately 70% of whole township. Precint 2 & 3 will be guarded and gated development.

The first phase of terrace house (20’ x 65’) will be launched in April 2013 at 380k Further details is not available yet.

Project Detail :

Property Type: Terrace House
Standard Land Area: 20’ x 65’

Indicative Price: From RM380,000
Tenure : Freehold

Wednesday 6 March 2013

New Launch Setia Ecohill Arroyo Garden

New Launch Setia Ecohill Arroyo Garden
Setia Ecohill Arroyo Garden is located in the north-eastern quadrant of Setia Ecohill. Arroyo Garden is an exclusive precinct with direct access to the club house. The lush yet leisurely landscape blends exotic plants and colourful wildflowers with a series of meandering and cascading brooks. The water edges offer both leisure and reflection zones through a network of walkpaths, gathering places and activity areas.
New Launch Setia Ecohill Arroyo Garden

Project Detail :
Property Type: Bungalow Lot
Standard Land Area: 60’ x 110’; 62’ x 110’; 64’ x 110’
Selling Price: RM 100 psf
Tenure : Freehold
Sales Status : 100% sold
My review :
This is 131 – 197ft above the sea level, it is 24-hour guarded & gated community and modern landscaped concept.
New Launch Setia Ecohill Arroyo Garden

Tuesday 5 March 2013

New Launch The Chimes at Bandar Rimbayu (Kota Kemuning)


The Chimes at Bandar Rimbayu (Kota Kemuning)
Bandar Rimbayu is a 1879-acre township with the GDV of RM11bil in Kota Kemuning. This twonship features several ponds and water bodies, focusing on sustainable lifestyles and is divided into four precincts:

The Chimes at Bandar Rimbayu (Kota Kemuning)

-->
  • Flora, a mixed residential area
  • Fauna, a mixed residential area with amenities including shops and a school
  • Bayu, a 280-acre high-end waterfront residential development by the lakeside
  • A commercial hub, which includes a canal, town square and service apartments
They have recently launched The Chimes on 2 March 2013, below is the summary of the detail : -
Total Unit : 526
Land Area :  56 acres
Land size : 22’ x 75’ ; 24’ x 75’
Built-up : 2179sf ; 2322sf
Selling Price : 600-700k

The Chimes at Bandar Rimbayu (Kota Kemuning)
Density : 9.4 units per acre (low density)

The Chimes at Bandar Rimbayu (Kota Kemuning)
Tenure : Leasehold
Promotion package : A UNIFI VIP 10 package for 12 months, free legal fees on Sales & Purchase agreement and rebate of RM8000 if S&P is signed within 14 days from launch date.

The Chimes at Bandar Rimbayu (Kota Kemuning)
Sales status :
A total of 165 units (31%) sold internally to staffs & associates whilst the balance open for sale are 100% sold for non-bumi units. The balance unsold units approximately 10% of total are all bumi units.
My review :
Location: Location is a bit further from the existing development. However, this will become a township by its own where the residents will enjoy all facilities in the township later on. However, it is access by five major highways such as KESAS, LKSA, ELITE, SKVE and proposed WCE to other part of Klang Valley
Price : The pricing is a reasonable in current market condition. The landed properties are still commanding high demand. Corner units look cheap in relative to intermediate units. The units with good aspects are taken up earlier.
Design : This is a modern contemporary design housing model. The units are all with north-south orientation, thus reducing exposure to sunlight. High ceiling is incorporated in the interior to encompass for an airier space. Besides, the staircase skylight provides natural lighting into the house.
Embracing green technology that helps keep wastage to the minimum, each en-suite bathroom is equipped with dual flushing system for the Water Closet (WC), solar heated water system to bathrooms at shower area (except utility’s toilet) and rainwater harvesting system for gardening and outdoor usage.

Upcoming launch Condos by See Hoy Chan at Ara Damansara

There are a total of 7 blocks condos in the plan for this site.
Below is the details of the project : -
Total land area : 7 acres
Total Block : 7
Total Units : 700 -  800
Built-up area : 750 – 1800sf
Indicative Price : RM650 - RM700 psf
Upcoming Launch date : Tentatively Q4 2013Tenure : Leasehold
Webpage : http://www.shcsb.com.my/property-development-2/

Upcoming launch Condos by See Hoy Chan at Ara Damansara
My Notes : The recently launched condos are all 600psf and above, we merely can get any property below 600psf and sizes are quite small to cater for smaller household and reduce the absolute price and manage the affordability. 

Thursday 28 February 2013

Upcoming launch : Sunway Geo Phase 2, Sunway South Quay by Sunway Group


Sunway Geo Phase 2 by Sunway Group, located at SouthQuay is planning for launch in Q2 2013. It is just next to Sunway Geo Phase 1 and where the South Quay is situated. There are a total of 45 units of 3-storey shopoffices and approximately 300 units flexi suites. It was sold at 9mil - 10mil for intermediate unit and 13mil-20mil for corner units varies according to sizes.
Upcoming launch : Sunway Geo Phase 2, Sunway South Quay by Sunway Group
Land size : 27' x 59' for intermediate unit
Total Unit : 45 units 3/s Shopoffices and 300 units flexi suites
Intermediate unit Selling Price : RM9mil - 10mil
Webpage : http://www.sunwayproperty.com/pd/sunwaygeo_3storey.asp

-->
Summary details of this project : 
Built-up area : 5600sf - 6500sf for intermediate unit
Tenure : Leasehold

Review :
Location : The project is connected with Malaysia’s First Proposed Elevated Bus Rapid Transit (BRT) – Sunway Line (completing in 2014). This BRT will connect to 2 train stations – Setia Jaya KTM Station and proposed LRT station in USJ. It has direct access from KESAS highway into Sunway South Quay, and easily accessible to all major highways

Design : The facade looks good. Stratified shopoffices , concept similar to Sunway Nexis. This is is a brand new seamless integrated development comprising Retail Shops, Flexi Suites and Residences where people will experience the very best of entertainment, work, and living.
Price : With an approximately 10% higher than Sunway Geo Phase 1, the project will certainly carry the value where it should.

My Notes : 
Location is good, modern and urban design cater to a new generation expectation. Sunway Geo is surrounded by over 7 million sq. ft. of award-winning facilities and amenities offered at Sunway Resort City, Bandar Sunway.
It is surrounded by educational institutions ie. Sunway University, Monash University Sunway campus, Jeffrey Cheah School of Medicines and Health Sciences and Sunway International School; Sunway Medical Centre, Sunway Pyramid and Sunway LagoonTheme Park, Sunway Resort Hotel & Spa are just five-stone away. 

Wednesday 27 February 2013

Upcoming launch : Tropicana Gardens Phase 2 by Dijaya


Tropicana Gardens is located at Persiaran Surian, Kota Damansara. Tropicana Gardens offers a diverse component of high-rise serviced residence, shop offices, small-office-home-office (SOHO), a 5-level hybrid mall and 12-storey hotel, as well as a cinema. There are also nine blocks of 5-storey semi-detached shop offices, four units of 5-storey office buildings and a 7-storey SOHO tower, weaved together amid lush landscapes in the whole development.

The developer has recently launched the phase one in October 2012 and the upcoming Tropicana Gardens Phase 2 will be launched in mid March 2013. Tropicana Gardens Phase 2 is a 35-storey serviced apartments.

Summary details of this project : 
Total Entire Project Site : 14.64 acres
Tenure: Leasehold (expiring in 2106)
Upcoming launch : Tropicana Gardens Phase 2 by Dijaya


Architect: GDP Architects
Total units : 413
Sizes :

  • Studio: 600sf +/-
  • 2-Bedroom: 1000 sf +/-
  • 3-Bedroom: 1,300 sf +/-
  • 3+1 Bedroom: 1,600 sf +/-
Website : http://www.dijaya.com.my/ourprojects/future_commercial_tropicana_garden_intro.php

Review :
Location : Tropicana Gardens is easily accessible via major highways include the New Klang Valley Expressway (NKVE), the Lebuhraya Damansara-Puchong (LDP), the Sprint Highway and the Penchala Link.
Upcoming launch : Tropicana Gardens Phase 2 by Dijaya
Design : The facade is similar to Tropicana Gardens Phase 1 Arnica. The sizes are mostly small sizes units.
Price : The pricings at 880psf for small units are at the average of new condo pricing. They have successfully sold out everything in phase 1 at average of RM 800psf. http://bestpropertyreview.blogspot.com/2012/10/new-launch-tropicana-gardens-arnica-at.html

--> My Notes : 
Location is good with established location of Kota Damansara, broad catchment area with mainly 30’s age group.  An elevated Mass Rapid Transit (MRT) station is incorporated with direct linkage to the integrated development for maximum convenience. Choosing a unit for either for own stay or investment will be a good choice.   .   

Monday 25 February 2013

Upcoming Launch Plaza Arcadia ParkCity Towncenter Update


The upcoming launch Arcadia in Desa Parkcity was tentatively planned in 1st half of 2013. This is a first commercial development within the Parkcity Towncenter (approximately 60 acres), Desa Parkcity. Arcadia (Parkcity towncenter) consists of approximately 107 units of 4-storey of retails, offices and SOHOs.

Summary 
Land size : 11 acres
Total units : 107 units stratified  retails, offices and SOHOs
Built-up area : 

  • Ground & Mez floors : 3000sf
  • First floor : 1700sf
  • Second floor : 1000sf
  • Third floor : 700sf & 1000sf
  • Total of approximately 7500 sq. ft and above
Indicative Selling Price : RM7-8mil
Webpage (towncenter not available yet) : check out the location of Parkcity Townceter at http://www.desaparkcity.com/
Location Plan of Plaza Arcadia 
Review :
Location : It is a strategic location, easily connected to KL, PJ by highways. Desa ParkCity itself is a affluent neighborhood with a good catchment from Mont Kiara, Bandar Utama, Bangsar and etc. 
Design : Not available. 
Price : In view of the recent launches of retail and office is selling at premium pricing of 7 and 8 mil onwards, this indicative price range seems to be at a good entry level. Good discounts and promotion packages are offered to the buyers. 
Remarks : Keep an eye on this first phase of Parkcity towncenter for investment. 

Lend Lease Group Explore potential Shopping Malls in Malaysia


Lend Lease Group, Australia’s biggest developer, plans to expand in Malaysia to make up for a slowdown in residential sales and mining-related infrastructure projects back home. The company is in discussions to invest in about three development projects in Malaysia and expects to complete the first agreement by June 30, Chief Executive Officer Steve McCann said in an interview from Melbourne yesterday.

Lend Lease JV - Setia City Mall 
Lend Lease wants to lower its dependency on the home market to about 60 per cent of earnings in five years from 73 per cent as of December 31, McCann said. Malaysia’s growth exceeded 5 per cent in each of the five quarters through September, outpacing Australia’s average 3.4 per cent expansion in the same period. Lend Lease’s Asian Retail Investment Fund in May opened Setia City Mall in partnership with Malaysian developer SP Setia Bhd.

"Over time, say about five years, we’ll invest more capital overseas," McCann said. "There are a few
encouraging signs in the Australian residential market and there’s a bit more enquiry off the reduction in
interest rates but there won’t be a material turnaround soon in the land subdivision market." The
Sydney-based company’s future developments in Malaysia will be mixed-use projects dominated by retail
space, McCann said. Two of its planned projects in the country will be in Kuala Lumpur and one elsewhere, he said.

Lend Lease in October agreed to jointly develop a 10.9 acre site in a project that will include office, retail and hotel space and homes with Naza TTDI.

Sunday 24 February 2013

Upcoming Shopping Malls in Klang Valley


We always wonder whether there is an oversupply of shopping malls in Klang Valley. Here are some points to be noted all about shopping malls in Klang Valley. As of Feb 2013, there are currently about 210 shopping centres in Klang Valley. There are millions sq. ft. of lettable area will be ready for tenants in 5 years time.   

There are 6 shopping malls that currently in advance stage and will be completing in these 2 years. What are the six shopping malls that completing in 2013? The six include Nu Sentral in KL Sentral, Cheras Sentral in Cheras, KLIA 2 in Sepang, Encorp Strand Mall in Kota Damansara, D’Pulze in Cyberjaya and Market Hall @ Pudu along Jalan Pudu, commanding more than two million sq ft of nett floor space in total.

Encorp Strand Mall with the philosophy of ‘Anything But Ordinary’. The mall will feature a unique combination of boutique-style shopping with premium brand experience, carefully selected group of tenants for entertainment outlets and a multi-tiered security system.

Phase one of IOI City Mall in Putrajaya is set to be the largest mall in the south of Klang Valley with 1.35 million sq ft of nett lettable area. Upon completion in the fourth quarter of 2014, the mall with contemporary architecture will boast 350 specialty shops and four anchor tenants. IOI City Mall designed by RTKL International will have abundance of natural light and offer a view of the 18-hole Palm Garden golf course. The mall will house 80 food and beverage outlets, popular fashion brands, indoor theme park, cinema, bowling centre and a full-size ice rink.

How many more in the pipeline and what are the net lettable area that we are emphasizing on? Below is a tabulation of upcoming shopping in Greater KL more than 1 million sq. ft. : -

Item
Shopping Mall & Location
Net lettable aea
1
KL Metropolis Matrade Retail
11.4mil
2
IOI City Mall, Putrajaya
2mil
3
Boustead Retail Cochrane & IKEA
1.2mil
4
Subang Jaya City Centre
1.2mil
5
Empire City Thematic Malls
1mil
6
PJ Sentral Garden mall & Inddor SKI Area
1mil
7
I-city Mall with Central Group
1mil
8
The Paradigm OUG Shopping Centre
1mil
9
Jalil City Mall
1mil
10
Tropicana Metropark Mall
1mil
11
Tropicana Gardens Mall
1mil
12
Icon City PJ Shopping Mall
1mil


Check out the subsequent updates for more detail on this.

Thursday 7 February 2013

Aspen Bungalows in Garden Residence, Cyberjaya


Aspen Garden Residence
Mah Sing offers RM600k move-in package for Aspen buyers. This includes built-in cabinets for wet and dry kitchens, wardrobes for all bedrooms and landscaping services. The homes are slated for completion in mid-2013.

Aspen Garden Residence
69 3½-storey Aspen houses are the final and most exclusive phase in the Garden Residence development. Each bungalow will come with a lift and 9+1 bedrooms. There will also be a dedicated entertainment floor and a private rooftop garden with outdoor Jacuzzi.

Land size : 60 x 90
B/U area : 7,796 sq ft
Price : RM3.88mil
Webpage : http://www.mahsing.com.my/index.php?option=com_property_details&id=5&tab=2

These freehold homes will come with security features such as perimeter fencing with vibration sensor, CCTV cameras and vehicle access control. Each home will also be equipped with a 16-zone alarm system and intercom system linked to the guard house for round-the-clock security.

The houses will be fitted-out with rainwater harvesting system and solar-powered water heaters. The north-south orientation of the house will help reduce the use of energy while the abundance of glass windows will allow in natural light. 

Aspen Garden Residence
Garden Residence straddles the boundary between Cyberjaya and Putrajaya, and enjoys multiple accesses via various highways. There is an express rail link station close to the project, allowing residents’ easy access to KLIA, while the Maju Expressway (MEX) takes them to Kuala Lumpur city in just 20 minutes.

Garden Residence has an estimated gross development value (GDV) of RM882 million and is designed with a tropical resort living theme. It is the first integrated development featuring landed and high-rise properties, a promenade clubhouse and communal retail amenities in Cyberjaya. It is also designed with a green axis concept that features parks, boulevards, thematic gardens, streetscapes, jogging tracks, running trails and cascading water features.

Previous precincts such as Precincts 1 (Cassia), 2 (Evergreen) and 3 (Jacaranda) have been completed and handed over. 

My View : -

Location : Strategically located between KL City Centre and KLIA and within the Multi Super Corridor in Cyberjaya.
Other good points : 
  • Freehold
  • Perimeter fencing
  • Gated & Guarded with 24-hour security
  • Retail amenities
  • Clubhouse
  • Lush tropical landscaped gardens
  • Jogging tracks and running trails
  • Green building features
  • CONQUAS assessed for quality assurance

Wednesday 30 January 2013

Pantai Sentral (by IJM & Amona)


Pantai Sentral (by IJM & Amona)
Pantai Sentral is strategically located in Kerinchi / Pantai daman corridor next to bangsar South and nearby neighbourhood and popular hotspot of Pantai, Bangsar and Mid Valley City.

Pantai Sentral (by IJM & Amona)
Pantai Sentral is destined to be one of Klang Valley’s choice locations in view of its proximity to Kuala Lumpur city centre and the prime neighbourhood of Bangsar, Damansara Heights, Pantai, Old Klang Road, Bangsar South City, KL Gateway, KL Eco City, Mid Valley City, KL Sentral and the future Setia Federal Hills and The Establishment KL.

This is a long term project with a large shopping mall with condos, serviced apartments, soho, offices, hotels, urban parks and lake.
Pantai Sentral (by IJM & Amona)

IJM Land Bhd is undertaking a property development via a joint venture with Amona Development Sdn Bhd in the Kerinchi/Pantai Dalam corridor here. Murni Lapisan Sdn Bhd had inked a JV agreement with Amona to develop about 57.8 acres of leasehold land. The joint venture shall be known as Amona-Murni Lapisan JV. Amona had on 21 June 2012, entered into a privatisation agreement with the landowner Datuk Bandar Kuala Lumpur to build residential and commercial units on the site. Under the JV, Amona and Murni Lapisan would make available funds in proportion to the profit sharing ratio of 60:40 to pay for all costs of the project.

This would include payments to Datuk Bandar, comprising of the project land value and the minimum guaranteed profit of RM331mil, or RM391 million for the project land value and the minimum guaranteed profit if project land value to be paid within three years from the date of the SPA; and the additional profit of 20% of the difference between the actual profit and the minimum guaranteed profit.
Pantai Sentral (by IJM & Amona)

TOP POPULAR POSTS