damn lucky

Now erecting a small temporary building at entrance and touching up entrance road.

Newfields to revive abandoned project

The Newfields group is set to revive the Platinum Damansara project in Ara Damansara, which has been abandoned since 2007.

A visit to the site revealed that the Petaling Jaya City Council has granted permission to 128 Ara Damansara Sdn Bhd to build a showroom and a sales office at the abandoned project site.

128 Ara Damansara has a paid-up share capital of RM1mil and is 100% owned by Newfields Land Sdn Bhd, which, in turn, is part of the Newfields group of companies, according to the Companies Commission of Malaysia.

Two individuals, Khoo Boo Tee and Seow Voon Ping, are listed as the directors of 128 Ara Damansara. Both of them are executive directors of Newfields Property Management Sdn Bhd.

Attempts to contact Khoo for comments were unsuccessful, while Seow said the company was not ready to discuss the development as yet.
It is understood that the company expects to relaunch the project by next month to market the unsold units of the project.

Platinum Damansara had been previously developed by Dataran Mantin Sdn Bhd, which is a subsidiary of Kumpulan Langkawi Resorts.

According to reports, the construction of the project started in 2004 and enjoyed strong sales, with close to 700 units being sold. It has been reported that currently, 674 affected buyers of the project are servicing their bank loans despite the project being yet to be completed.

The Newfields group is the brainchild of Seow Lun Hoo, a former banker-turned-property developer. Seow is the former president and chief executive officer of Hong Leong Credit Bhd (now known as Hong Leong Financial Group Bhd), the financial services and property arm of Hong Leong Group Malaysia.

The company has two flagship projects, namely Puchong Gateway, a 12ha commercial hub; and The Sanderson, a low-density residential development in Serdang. Both have a gross development value of about RM1bil.

The project is located within the township of Ara Damansara, which was developed by Sime Darby Bhd. When Sime Darby applied to develop Ara Damansara in 1995, the conditions were to surrender three plots of land to the state government for public use.

A primary school, a secondary school and a recreation centre were supposed to have been built on the parcels of land.

However, the land earmarked for the secondary school was sold and converted for commercial and residential development, which is now the abandoned Platinum DamanThe sara.

The 128 Ara Damansara is rebranding it to call Maisson?

Found this website and from the aerial view it looks exactly like the Platinum Damansara
Looks pretty nice from the concept, any sifus have comments about the revival of this project?
Do u think it is a good investment for rental?

http://maisson.com.my

This post has been edited by earthkid: Mar 4 2014, 11:57 AM

good news for the buyers...after suffer for few years interest pay, i belive with ara damansara address, this is not going ot be cheap

saw they rushing build up the showroom at the site there, will try to snap some photo this 2 days ~

by the way, what about previous purchaser? curious how they settle their issue?
offer a lower rate or how?

This post has been edited by jssl: Mar 4 2014, 11:54 AM

I wonder why a new company is setup just for this and not directly under Newfields. I know it is parachute maneuver for Newfields in case the fan hits the shit again, but if the real intention is to make it right this time why not do it under Newfields?

Just passing by the place yesterday, quite surprise there's a sales office there. and look they're rushing for cleaning job now.

I think the showroom is open?

Any news about the Maisson development?
Thank you.

Anybody heard about Squirrel Hill International Sdn Bhd ?

Hi, just check with you. Last time u bought the price how many psf? What's the size unit?

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