DAMANSARA Perdana, the flagship development of the MK Land group, will have the country's first wireless residential project with broadband wireless fidelity (wi-fi) access in all its residential units, offices and retail outlets.
Developed by MK Land's wholly owned subsidiary Saujana Triangle Sdn Bhd, Metropolitan Square will feature 1,673 condominiums, 60 retail lots and 127 office suites for a total gross development value (GDV) of RM697.2mil.
The project on 16.05 acres, to be launched early next month, is earmarked for completion in September 2006.
Saujana Triangle chief operating officer Peter Chan said the company would be tying up with Intel Corp this month to use its latest mobile technology – the Centrino chip technology – to create wireless hotspots in Metropolitan Square which would allow broadband access.
“About RM7.5mil will be spent to incorporate the broadband and wireless technology to turn Metropolitan Square into a premier address with cutting edge homes and commercial units,” he told StarBiz in an interview.
Chan said Metropolitan Square offered the luxury of cosmopolitan and international resort style privileges, including the country's first glass-edged swimming pool, a multi-featured swimming and wading pool, landscaped deck and barbeque terrace.
“Tagged The Modern Difference, it is the most modern condominium and commercial development in Petaling Jaya,” he said.
The condominiums, ranging from 873 to 1,462 sq ft, would be priced from RM199,204 to RM390,669 a unit. In a recent sales preview, total sales of RM21mil were recorded. A clubhouse with a futuristic design will be built for the exclusive use of the residents.
He said the commercial precinct of the Metropolitan Square would be the only modern Grade A office building in Petaling Jaya available for sale with its spectacular facade of glass and metal. It comes complete with a 6,000 sq ft health club for the office workers.
“The total retail space available is 77,769 sq ft, which will give a sales value of RM2.88mil, while the 185,258 sq ft of office space is worth about RM74.6mil.”
Chan said the modern architecture of Metropolitan Square was part of the company's initiatives to create a vibrant community lifestyle in Damansara Perdana.
The launch of this latest precinct followed closely the successful launch of its Balinese-resort style condominium – Armanee Terrace – tagged as “the most complete home in the country”. Every unit has a 400 sq ft private garden; super security including CCTV and perimeter fencing; use of the exclusive Club Armanee; and services such as 24-hour concierge, housekeeping, laundry, maid services, food delivery and handyman.
He said that of the 522 condominiums ranging from 2,200 to 2,800 sq ft, about 155 units had been sold for a GDV of RM78mil.
Since its launch in 1996, the 750-acre Damansara Perdana had been about 15% developed with total sales of RM1.24bil. Upon completion in eight years, there would be 14,500 residential units for a population of 50,000.
Chan said sales from the township were forecast to be RM500mil for the financial year ending June 30, 2004, contributing some 50% to MK Land group profit.
“We have seen strong sales for the township properties and in October alone, sales achieved amounted to RM43mil. With the good performance of the stock market which will raise the liquidity level, we expect property sales to improve further in the next three to six months, especially with our well differentiated products such as Armanee Terrace and Metropolitan Square.”
He said the township's location within the Golden Triangle of Petaling Jaya – stretching from Bandar Utama to Damansara Perdana – is an “exciting and happening place” to live and work in.
“The bustling neighbourhood is set to become the hub for food, fashion and entertainment with projects such as Cineleisure entertainment and the Curve fashion complex opening up by the end of next year.”
Chan said the highway connection provided by Sprint, Damansara Puchong Expressway and North Klang Valley Expressway would make Damansara Perdana and the surrounding development “the hottest commercial hub” in Petaling Jaya.
“Upon completion of the Sprint Highway Penchala Link in September next year, the township's access would be further improved as it moved closer to other vibrant neighbourhoods such as Mont'Kiara and Sri Hartamas,” he added.