KUALA LUMPUR: Sri Seltra Sdn Bhd launched its latest mixed development project, Hon Residensi, in Taman Nirwana, Ampang. The project with a gross development value (GDV) of RM102 million will be built on 2.77 acres of land and comprises of two tower blocks.
With a total of 172 leasehold serviced apartments – Block A and block B will consist of 84 and 88 units respectively – the project features built-ups ranging from 700 sq ft to 1,400 sq ft that are priced from RM480,000 onwards or RM500 per sq ft.
According to its Director, Terence Chia, they have recorded more than 50 per cent take-up rate to date from the soft launch last month. “We are targeting to reach 80 per cent by year-end.”
“Despite the challenges in the property market, the take-up rate shows that the right product and pricing will always appeal to customers,” he told reporters after the official launch of Hon Residensi.
Chia noted that the project construction has reached 40 per cent completion and it was slated for full completion in the next 12 months.
Located on the fringe of Kuala Lumpur (KL), Hon Residensi is just a seven kilometres from the KL City Centre and is accessible by a network of highways, namely the Ampang-KL Elevated Highway and Middle Ring Road 2.
On prospects, he said the company would embark on two major development projects in KL, namely a hotel in Bukit Bintang and serviced apartments in Bangsar, with total GDV of RM1 billion.