Sime Darby Property to launch RM586.84 mil Cantara Residences in Ara Damansara this month

Post date: Feb 07, 2017 2:2:48 PM

By TheEdgeProperty.com / TheEdgeProperty.com | April 16, 2016

PETALING JAYA (April 16): Sime Darby Property Bhd will launch its RM586.84 million transport-oriented development called Cantara Residences (pictured) in Ara Damansara said managing director Datuk Jauhari Hamidi.

Cantara Residences has a gross development value (GDV) of RM586.84 million and is slated to be launched this month.

The project is a 23-storey tower with 888 serviced apartments that will have built-ups of 650 to 1,500 sq ft and 13 retail units.

The property arm of conglomerate Sime Darby Bhd also has a few other projects lined up for this year – including the Quarza Residence project at KL East in Desa Melawati next month and Lapis Seri, a mixed-use development in the RM8 billion Kuala Lumpur Golf and Country Club.

Quarza Residence will comprise two 37-storey towers of 508 serviced apartments, with built-ups of 651 to 865 sq ft.

The project had acquired 1,500 registrants so far, he said.

Meanwhile, Lapis Seri is a four-acre project that will include serviced apartments as well as retail and commercial units.

Jauhari is confident that these launches will be well received and the group will be able to hit its initial sales target of RM2.5 billion.

“As for our launched projects, we continue to see demand for landed properties in prime areas such as City of Elmina, Denai Alam, Bandar Bukit Raja, Nilai Impian and Bandar Ainsdale,” he said.

Read the full story in the April 18 issue of City&Country, the property pullout of The Edge Malaysia business weekly. Subscribe here for your personal copy.