URBAN Shift Sdn Bhd is forecasting revenue of RM350mil from its NAS Pavilion residence and integrated commercial project in Kuala Lumpur's Golden Triangle district.
Executive chairman Mohd Nasrizal Abdul Aziz said the project would form Kuala Lumpur's newest landmark along Jalan Imbi and consist of a 4-in-1 facility which included furnished serviced apartments, a shopping arcade, an office tower and a clubhouse.
We have received encouraging sales and have sold more than 40% of the 438 units of furnished serviced apartments under phase one during the soft pre-launch two weeks ago, he said at the official launch of NAS Pavilion in Kuala Lumpur on Friday.
Nasrizal said the company expected 20% more of its serviced apartment units, priced between RM198,800 and RM568,680, and the nine penthouses, priced up to RM1.6mil, to be taken up by the end of this week.
The NAS Pavilion project was launched by Domestic Trade and Consumer Affairs Minister Datuk Dr Jamaludin Jarjis and attended by Deputy Education Minister Datuk Abdul Aziz Shamsuddin.
Nasrizal said the property, occupying a 1.35-acre freehold site, had superb location due to its close reach to the KL Monorail, and major bus and taxi routes.
Not that you would need to go far, being right in the middle of the shopping belt and the Bukit Bintang area, all the major attractions for shoppers and visitors are also provided within NAS Pavilion such restaurants, and entertainment and shopping outlets, he said.
Nasrizal said the serviced apartments were scheduled for completion by January 2007.
The remaining phases to be launched will be the NAS Pavilion Shopping Arcade, a 6-storey shopping mall with 300 shoplots ranging from 170 sq ft to 1,020 sq ft, the NAS Pavilion Office Tower which is ideal for stock broking, sophisticated legal, accounting, advertising and consultant services, and the NAS Pavilion Clubhouse, a 18,000 sq ft recreational area for all NAS Pavilion residents.
Nasrizal said the company had allocated RM1.2mil to promote the NAS Pavilion project this year and that buyers of the serviced apartments stood a chance to win the latest BMW 5 series saloon valued around RM300,000 as the grand prize.
Urban Shift has appointed PJD Construction as the main contractor and Kim Realty as the sole marketing agent for the NAS Pavilion project.