PETALING JAYA, July 27 — Property developer, Nusmetro Group, has sold 1,200 units or 85% of the Arte Mont Kiara project, within the soft launch late last year.
Arte Mont Kiara, a mixed development project with RM1.2 billion in gross development value, is the group’s sixth Arte series venture in the country.
Executive Director of Nusmetro Property Sdn Bhd, Thomas Chan, attributed the encouraging sales momentum to location and design.
“Sales and purchase agreements are in the signing process with 99% of the buyers being locals,” he told reporters after signing an agreement to appoint Kerjaya Prospek Group Bhd as main contractor for the main building works of the project here Wednesday.
Kerjaya Prospek Group Bhd’s (formerly known as Fututech Bhd) wholly-owned subsidiary, Kerjaya Prospek (M) Sdn Bhd, today signed a Letter of Award with Nusmetro Property Sdn Bhd for a contract sum of RM338.8 million.
The construction works will take thirty-eight months from its scheduled commencement in September 2016, and full completion is targeted by October 2019.
The project will comprise 1,700 units of simplex and duplex serviced suites and serviced residences, housed within three towers at average RM1,000 per sq foot, located on Jalan Khidmat Usaha, Kuala Lumpur.
Nusmetro, however, intends to just sell 1,400 units.
It will be part of the KL Metropolis project that was envisioned to be the “International Trades and Exhibition City”.