Kuala Lumpur, 12 April: Land & General Bhd (L&G) yesterday introduced a special buyer’s package for its Astoria serviced apartments in Ampang. The official launch of the project will be held this weekend at the Astoria Sales Gallery.
Bearing a gross development value of RM860 million, Astoria Ampang will comprise four 46-storey serviced residence towers with each tower housing 253 units. The units have built-up areas ranging from 560 sq ft to 1,505 sq ft. The leasehold development is expected to be completed in March 2020. It is priced at an average RM 750 per sq ft, with a monthly maintenance fee of RM 0.35 cents per sq ft.
Aiming to develop a serviced residence that promotes healthy living, Astoria Ampang will feature a 3-acre facilities podium that comprises of 32 state-of-the-art facilities including a live water stream, cascading waterfall, park, jogging track and cycling track, hammock garden, aqua kitchen and many others. The first phase of Astoria Ampang has so far received a 60% booking.
Elaborating on the project’s progress at a pre-launch media briefing, Low Gay Teck, MD of L&G said,” We are actually 9 months ahead in terms of physical construction and have already completed the piling works for Tower A and B. The main building works will commence after the project’s official launching.
Low also introduced the Power Pack, a special buyer’s package to assist customers who have limitations in terms of borrowing power. Aimed at first time home buyers and property investors alike, the package will help potential buyers bridge the gap of the home loan versus the differential sum.
“L&G is aware that is especially tough for second and third-home buyers to come up with the 20% or 30% downpayment upfront and the Power Pack will especially benefit this group of buyers as it offers an interest-free and progressive payment plan, where the remaining down payment could be paid in installments over 24 months, with no interest being charged,” explained Low.
“For instance, a third-time home buyer who obtains a 70% loan from L&G’s partner banks, will be offered a 24-month installment plan to pay off the remaining 10%, interest-free,” he added.
The special package will run for a specific time period only. The Power Pack will be discontinued once L&G achieves their sale target of around one to one and a half towers sold.
The developer plans to launch two other developments this year, namely, phase two of the Damansara Foresta serviced apartments in Bandar Sri Damansara, which has a GDV of RM500 million as well as phase one (terrace houses) of Sena Parc in Senawang, which bears a GDV of RM250 million.
The Astoria Ampang launch details are as below:
DATE : 16/04/2016 – 17/04/2016 (Saturday & Sunday)
TIME : 11:00 AM – 06:00 PM
VENUE : Astoria Sales Gallery
Attendees will be able to find out more about the Astoria Power Pack during the launch. For further inquiries, please call 03-4252 3336.