M City Jalan Ampang's first phase achieves 98% sales

Tags: 30 Jewels , Ampang Point , Damansara-Puchong Highway , Federal Highway , GBI , Great Eastern Mall , Green Building Index , Icon City Petaling Jaya , Kuala Lumpur Convention Centre , Leong Hoy Kum , M City Jalan Ampang , M Suites Jalan Ampang , Mah Sing Group Bhd , Sungai Way Free Trade Zone


By Lam Jian Wyn of theedgeproperty.com
Wednesday, 01 June 2011 14:47

KUALA LUMPUR: The first phase of Mah Sing Group Bhd's M City Jalan Ampang — comprising 180 semi-furnished units of designer SoHo suites — has seen 176 of its units, or 98%, taken up during its three-day launch starting May 27.

"Prospective buyers started queuing up outside our sales gallery since 5am, and the atmosphere was charged up as the gallery was packed with buyers," said group managing director Tan Sri Leong Hoy Kum in a statement on Wednesday, June 1.

The units were priced at RM800 psf on average, and featured single-storey types with build-ups from 781 sq ft to 1,066 sq ft and duplex units with built-ups from 910 sq ft to 1,330 sq ft.

Following the good response to the first phase, Mah Sing will be opening the next phase of M City, comprising 221 units of designer SoHo suites, for sale.

The development will also comprise residential suites, sky villas and retail outlets.

Designed to be Green Building Index (GBI) compliant, it will feature a garden city concept where over four acres of greenery partly in the form of thematic hanging gardens will come up at levels seven, 11, 17, 23, 29 and 35 of the development's high-rise homes.

With a gross development value (GDV) of RM1.4 billion, M City Jalan Ampang will be built on 4.7 acres of freehold land.

It is close to Ampang Point, Kuala Lumpur Convention Centre, Great Eastern Mall, Gleneagles Intan Medical Centre and the upcoming M Suites Jalan Ampang residences which is also being developed by Mah Sing.

"The strong take up adds to our confidence and we shall soon roll out two more projects namely Icon City Petaling Jaya and Icon Residence Mont'Kiara to meet this pent up demand for manageably-sized units in good locations," said Leong.

First up is Icon City Petaling Jaya, a RM2 billion mixed-development which will be built on a 19.6-acre tract of leasehold land at the Sungai Way Free Trade Zone at the junction of the Federal Highway and the Damansara-Puchong Highway.

The first phase of the project, 30 Jewels, saw 19 of its 30 units of shop offices sold. Currently, phase two which comprises two and three-storey retail lots, small office versatile offices (SoVo) and residential units, is open for registration.

The SoVos will have a built-up of 650 sq ft and 990 sq ft and will be priced from RM750 psf, with an expected preview date somewhere at end-June or early July. Other elements of Icon City include a hotel, corporate office towers and a retail mall.

Next, Mah Sing unveil the sales gallery and show units of its Icon Residence Mont'Kiara luxury highrise (GDV RM298 million). It will comprise 260 units of serviced suites in three low-density towers that are 26, 28 and 36 storeys each.

The units are partly furnished, have built-ups from 875 sq ft to 2,967 sq ft and are indicatively priced from RM1,200 psf.


http://www.theedgeproperty.com/news-a-view...s-98-sales.html

rental rate in KLCC area around 4psf to 6psf.

Binjai on the park is claimed for rent about 7-8psf. LOL...


unless your unit is planned for daily rental rate for different short-term tenants (daily basis with full fledge services), whicch probably can go as high as 10psf to 15psf. kekeke

Oct 28, 2011
Garden-themed M City sold out
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Mah Sing Group has garnered RM412mil sales from its garden-themed mixed development, M City Jalan Ampang which is located less than 5km from KLCC.
First previewed in June this year, all 401 units of designer SoHo (small office, home office) suites worth RM295mil have been taken up.
Response to the 24 retail units worth RM117mil launched a few weeks ago has also been overwhelming, with the 15 units of three-storey boutique retail, four units of single level retail, four kiosks and supermarket fully sold.
The 39,000sq ft supermarket was acquired by gourmet supermarket chain Village Grocer.“The location and concept of M City dovetail with the business strategy for our gourmet supermarkets,” said Village Grocer managing director Ong Kim Too.
“We operate in prime developments as anchor retailer/tenant, at sites with a concentration of our target customers,” he added.
A mixed development comprising designer SoHo suites, residential suites, sky villas and boutique retail, M City Jalan Ampang which sits on a 2.02ha freehold site has an estimated gross development value of RM1.4bil.
Located along the famed Embassy Row, M City is a stone’s throw away from Ampang Point which has a proposed MRT station, and is less than 2km away from Gleneagles Hospital, Great Eastern Mall and M Suites. With such an attractive location, there is a catchment of more than 500,000 from the surrounding matured developments.
Mah Sing group managing director Tan Sri Leong Hoy Kum said, “M City is Kuala Lumpur city’s one and only garden city community, and the first ever to boast multi-level thematic hanging gardens in Malaysia.
“We have various thematic hanging gardens spanning over 1.61ha for every sixth floor, with concepts such as sky garden, tropical sanctuary, spring park, bamboo groove and lagoon park which has become the talk of the town and a key selling point. A four-tier clubhouse houses a gymnasium and an infinity pool with an excellent city and lake view has been planned for the enjoyment of residents. The project is also designed to achieve the Green Building Index (GBI) Gold standard by increasing the efficiency of resource usage.”
More than 2,500 parking bays have been allocated for residents, tenants and visitors of M City, with separated residential and commercial parking lots and parking entry points.
He added, “We have carefully planned the project and most of the units are smaller sizes to meet current market need. With such good response to our SoHo and retail units, we intend to launch our residential suites in our sales gallery in Icon Jalan Tun Razak soon.”
The new launch are residential suites priced from RM550,000.
Buyers shall be spoilt for choice with the numerous configurations available, from studio units (506sqft) priced from RM550,000, 1 bedroom (674sqft), 2 bedroom (886sqft) and 3 bedroom units (1,653sqft). All these options are also available as duplex units to ensure that discerning buyers can get exactly what they need.
These units are semi-furnished and amongst the furnishings and electrical appliances to be provided by Mah Sing include bedroom wardrobe and vanity cabinet with mirror, kitchen cabinets, air conditioners, refrigerator, washer cum dryer, microwave oven, built in hood and hob as well as water heaters. Mah Sing shall also absorb the legal fees for sales and purchase agreement.

the star online

This post has been edited by kh8668: Oct 28 2011, 06:18 PM

this is soho or the residence suites?

anyone can share how many units are actually

SOHO?

Serviced apartments?

Quite confuse tower 1 and tower 2 thingy...

Is it samething Old Proton VS New Honda?

Yea...building also got new technology appplied