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Almost 50% take-up rate for the first block of Aera Residence @ PJ South

Aera Residence boasts a strategic location where three thriving cities meet: Subang Jaya, Petaling Jaya and Puchong. - Pic by The Star. Aera Residence boasts a strategic location where three thriving cities meet: Subang Jaya, Petaling Jaya and Puchong. - Pic by The Star.

The newly launched Aera Residence in Petaling Jaya South is proving to be a hit as almost half of the first block is already taken up.

Platinum Eminent Sdn Bhd, a subsidiary company of Chin Hin Property Development, is expected to complete the two- tower project by 2021.

Chin Hin Group Berhad group managing director Chiau Haw Choon said the strategically placed service apartments would be affordable and of the highest quality.

“As a manufacturer and supplier of construction materials, almost 100% of the materials will be sourced in-house, which will significantly lower the building cost as well as the selling price.

“We are able to sell the units at between RM410 and RM502 per square foot,” he said during the launch of the project in Kuchai Entrepreneurs Park, Kuala Lumpur.

“Tower B will be launched sometime in February. We expect a take-up rate of about 80% by the middle of next year,” Chiau said.

The project is expected to generate RM300mil in gross development value (GDV) and is a leasehold property.

Aera Residence will comprise a total of 752 units with condominium facilities including swimming pool, gym and futsal courts. The project site sits beside a 0.8ha lake and will include a 500m jogging track.

The price for a 718sq ft unit starts from RM293,000 to RM507,000 for a 1,010 sq ft unit.

Sales and marketing director Sally Chiau said each unit would come with air-conditioners, kitchen cabinets with hood and hob as well as a dryer.

“Each unit will also be allocated two parking bays. There will be one floor of retail space as well,” she said.

Also present during the launch were Chin Hin Group Bhd founder and deputy group executive chairman Datuk Chiau Beng Teik and managing director Yeo Chun Sing.

 

News Source: The Star Metro, 29 December 2016

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