KUALA LUMPUR: Guocoland (Malaysia) Bhd, the property arm of the Hong Leong group, targets the completion of its RM2.5 billion Damansara City by mid-2016, just in time with the integration of the mass rapid transit (MRT) station at Pusat Bandar Damansara here.
The 6.02ha Damansara City, which is being built, is the first high density mixed development in the Damansara Heights area, comprising 370 units of luxury serviced apartments, two Grade A office towers, a five-star boutique hotel and a four-storey retail mall.
“We started work on the luxury residences about two-and-a-half years ago. It should complete a year from now. This is ahead of the MRT Sungai Buloh-Semantan line, which is set to be operational before the end-2016,” said Guocoland managing director Tan Lee Koon after the topping-out ceremony of the company’s DC Residency, here, last week.
Also present was Ssangyong Engineering and Construction Co Ltd vice president Lee Kun ok.
Elaborating on a positive take-up rate of DC Residency, which forms part of Damansara City, Tan said Guocoland had spent more than RM100 million building an underpass and flyover from Jalan Johar and Jalan Beringin to Damansara City.
“We’re experiencing a good take- up rate ... There are people who want to own hotel-serviced apartments or condos outside KLCC. Apart from what we have to offer, you really don’t have that many opportunities in Damansara Heights or even Bangsar,” he added.
DC Residency, which carries a price tag of RM1,600 per sq ft, comprises one- to four-bedroom units and penthouses of contemporary design. The built-up area ranges from 938 to 3,056 sq ft. About half the 370 units are under 2,000 sq ft.
Tan said the construction of the residential blocks, as well as six levels of basement carpark, was awarded to South Korean construction giant Ssangyong for RM431.1 million.
DC Residency will feature premium fittings, such as Poggenpohl, Miele, Gessi Emporio and Catalano, while the facilities include an Olympic-length salt-water infinity pool, an aqua gymnasium and a regular gymnasium, a multi-purpose hall, function rooms, private dining rooms, a barbecue area and a mini-theatre.
As the residences come under Clermont — a newly launched five-star hotel brand under the Guoco group’s UK-based GLH Hotels Management — the hotel will offer à la carte services.
Maintenance fees are set at 35 sen per sq ft for the first year.