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Aetas Damansara records 71 per cent take-up rate
Published on: Thursday, September 29, 2022
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Aetas Damansara records 71 per cent take-up rate
Kuala Lumpur: Buoyed by brighter prospects in the property sector amid the post-pandemic recovery period, Aetas Damansara in Tropicana Golf and Country Resort recorded a 71% take-up rate on robust demand for luxury residential property.  

The high-end condominium, jointly developed by MCT and Philippine-based real estate firm Ayala Land, Inc remains a highly sought-after property in the market with strong interest comprising mostly from young corporate executives, empty nesters and retirees.

MCT Sales and Marketing Director Chee Kok Keong explains the reason behind the positive sales of its flagship development project was due to penned-up demand for luxury residential property in the Klang Valley market due to the oversupply of service apartments which consist mainly of smaller units.

“It was due to these factors we decided to proceed when we launched the project (in 15 Dec 2020) which was early into the pandemic when other developers pulled the brakes on new launches,” he said, noting currently, the take-up rate remained solid at 71 percent while another 5 percent is already booked.

He noted what makes Aetas Damansara different is because it’s strictly residential unlike service apartments which are actually residential units sitting on a commercial title. “This is why our development are generous with space because Aetas Damansara is a 100 percent residential development project,” he added.

Furthermore, Chee pointed the situation on overhang property is getting better and showing a downward trend following the introduction of the HOC (Home Ownership Campaign). Overhang situation in Malaysia had improved during the first half of 2022, dropping 7.5% to 34,092 units from 2H 2021 in terms of volume, according to latest findings by the National Property Information Centre (NAPIC) in its semi-annual report.

Under the scheme, successful applicants enjoy full stamp duty exemptions for properties up to RM1 million and partial stamp duty exemptions for properties worth more than RM1 million up to RM2.5 million.

As a result, he noted many property developers are registering good sales after adjusting prices which reflects the actual valuation of properties in the market.  “Which is why the market is quite robust and there’s good uptrend in terms of take up,” he added. 

Chee (centre) during the interview with Daily Express.

Nestled on a 1.765-acre leasehold parcel, Aetas Damasara has a gross development value of RM564 million and will comprise two 47 and 48-storey towers consisting of 226 residential units in total, amid breathtaking sweeping views of the Tropicana Gold and Country Resort and the KL city skyline.   With prices starting at RM1.9 million, the units will come in 3+1- or 4+1-bedroom layouts and built-ups of 2,098 to 3,273sq ft.  Additionally, there will also be two exclusive 6,071 and 6,114 sq ft 5+1+1-bedroom penthouses. The development is slated for completion by the second quarter of 2025.

The development has a 24-hour, multi-tier security system, CCTV monitoring, visitor management system, access control checkpoint, access card system and perimeter intrusion detection system.

Speaking to the Daily Express in an interview, Chee revealed the bigger units in the higher price range are selling better than the smaller units, noting most buyers consists affluent empty nesters who preferred a private and gated guarded environment, as well as young corporate executives.

“In fact, our larger units within the range between 3000 sqft and 3200 sqft, at prices starting RM2.7million to RM2.9 million are selling better than the smaller units,” he said.

“The whole project is generally what we call as age-mobility friendly; the moment they park their car, go into the lift lobby, residents are provided with the utmost privacy with a private lift lobby all the way to the balcony,” he said.

Chee (second from right) together with Dutama Properties Senior Negotiator Richard Chua ( far right) and Daily Express Sales and Marketing Executive, Majorie Noivont ( far left) and reporter, Mohd Izham Bin Hashim.

According to Chee, units at Aetas Damansara will have open living space concept and dining areas between 7m and 7.6 m wide, an expansive scenic balcony, a multifunctional serving kitchen, laminated glass in bedroom for increased safety and reduced noise transmission.

“Some of the units are designed to provide multigenerational rooms, and with functionality at the heart of the design space, the rooms are spacious, wheel-chair friendly, providing seamless access for the comfort of senior citizens or even families with young toddlers to enjoy,” he said.

Furthermore, Chee noted the units facing west will have a panorama of the Tropicana Golf and Country resort, while those facing east will have a commanding view of KLCC and Petaling Jaya.  Situated at a prime address of Tropicana, Aetas Damansara is easily accessible via the New Klang Valley Expressway, Sprint Expressway and Damansara- Puchong Expressway.

The luxury condominium boasts 742 parking bays and each unit with be entitled to three each, whereas pen houses will have up to five parking bays. Meanwhile, the facilities will be on level nine and include a 25m infinity pool, pool lounge, an outdoor spa pool, activity deck, open lawn, a gymnasium, family seating and picnic deck, an al fresco pavilion and a function hall.

With its central location, Aetas Damansara is within proximity of St Joseph’s Institution International School, SMK Bandar Utama Damansara, SEGi University Kota Damansara, Alpha Specialist Centre, Kelana Jaya Medical Centre, Tropicana Golf and Country Resort and Bandar Utama Golf Course, and conveniently situated near Strand Mall, 1 Utama Shopping Centre, The Starling Mall and Giant Hypermarket Kota Damansara.

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