Preview News : MK Land Launches Final Project In Damansara Damai
PETALING JAYA, July 23 (Bernama) — MK Land Holdings Bhd (MK Land), via its unit Medan Prestasi Sdn Bhd (MPSB), today launched sales of the first phase of its ‘Residensi Suasana @ Damai’ condominium development, the group’s final project in Damansara Damai.
Some 65% of the 260 leasehold units on offer in the first phase have been taken up, out of a total of 780 units for the three phases with a total Gross Development Value (GDV) of RM400 million.
MK Land founder Tan Sri Mustapha Kamal Abu Bakar said the Residensi Suasana @ Damai is the final project for the township that began in 1998.
“Today we have proved that the privatisation of housing in Selangor beginning in 1998 has been completed on 161.87 hectares (400 acres) of land in Damansara Damai.
“With the Residensi Suasana @ Damai, with a GDV of RM400 million, we have achieved our 1998 target of 19,659 units of houses with a GDV of RM2.0 billion,” he told Bernama after the launch.
A discount of 17 per cent on the normal price of RM450,300 is available for a limited time on Residensi Suasana @ Damai, located about 800 metres from the Damansara Damai MRT station. The three phases are expected to be completed in 2019.
Mustapha Kamal said at a press conference that MK Land, if given the chance, would be able to replicate its success in providing affordable houses at various price levels in Damansara Damai.
“MK Land has proven the effectiveness of the approach taken by the Selangor state government in 1998. We have completed various types of affordable houses on target, with prices as low as RM25,000,” he said.
Statistics show MK Land has completed 15,579 units of houses with a GDV of RM1.6 billion in Damansara Damai, comprising 6,867 units of low-cost houses priced from RM25,000 to RM42,000; 2,178 units of low medium-cost houses (RM60,000 to RM80,000); 2,179 units of medium-cost houses (RM81,000 to RM200,000); and 3,145 high-end units (around RM400,000).
To a question, Mustapha Kamal said applications to change the leasehold status to freehold for houses in Damansara Damai may be forwarded to the state government for consideration.
He also stressed that no commercial development will be allowed in four urban parks covering 16.18 hectares (40 acres) in Damansara Damai, with more detailed plans to be announced by the Petaling Jaya City Council soon.