PROPERTY developer Melawangi Sdn Bhd, a subsidiary of Arab-Malaysian Corp Bhd, is confident of achieving 60% sales or RM24mil from its latest development, Amcorp business suites.
Melawangi general manager (marketing) Tracey Lai said 30 of the total 151 units valued at RM40mil had been sold so far. Its a good start considering the soft market, she told StarBiz in Petaling Jaya last Friday.
The company is having a promotion for the units from Thursday to Sunday.
The business suites form part of the Amcorp Trade Centre which also comprises the 5-storey Amcorp Mall Shopping Complex and three office towers PJ Tower, Amcorp Tower and Yayasan Selangor.
The suites, ranging from 398 to 580 sq ft, are strategically located midway between Kuala Lumpur and Shah Alam, or a three-minute walk from the Taman Jaya light rail transit station. Prices start from RM128,888.
Lai said the project was 70% completed and buyers could expect the units to be completed in 18 months.
She said besides a one-year free service charge (for the first 20 buyers), free legal fees for the sale and purchase agreement and up to 80% end-financing, early birds would receive a 3% discount on the selling price.
It's an attractive buy, particularly for those who want to start a business at a low 'rental' cost, she said, adding that the units would be ideal for professionals such as doctors, lawyers, or accountants.
The units are equipped with broadband access and face a unique garden.
Moreover, a mezzanine floor can be added to the unit upon a buyer's request, for a fee.
The expected rental for each unit can be as high as 10% net return above the base rental rate of Amcorp and PJ Towers, Lai said, adding that the business units were located on the ninth to the 11th floors of the entire Amcorp development.
Each floor is also equipped with meeting rooms that can be rented out by the unitholders.
The group's recent launches include Amcorp and PJ Office Towers (97% occupancy rate), Amcorp retail lots (fully sold during its launch in July 2002) and Amcorp serviced suites (over 70% sold during its September 2002 launch).
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