Fajarbaru launches RM280 mln residential project in Sentul

KUALA LUMPUR: Fajarbaru Builder Group Bhd has launched its maiden residential property project, Rica Residence, with a gross development value (GDV) of RM280 million in Sentul.

Its Chairman, Datuk Low Keng Kok said the 39-storey tower was scheduled for completion in the first quarter of 2021.

"To date, we have already sold 70 per cent of the residential units during our private preview road shows.

"The response and support received were tremendously positive, which shows the market’s confidence in property products by Fajarbaru," he told reporters after the launch of the project here, yesterday.

The launch was officiated by Federal Territories Minister, Datuk Seri Tengku Adnan Tengku Mansor.

Low said Rica Residence would contribute positively to the group’s financial results for the year ending June 30, 2018.

Rica Residence offers 473 serviced residences, from studios to two-bedroom units, with builtups ranging from 657 square feet (sq ft) to 1,238 sq ft and priced from RM600 per sq ft.

Low said the development is located 150 metres away from the Klang Valley Mass Rapid Transit 2 (MRT2) project, which links Sungai Buloh and Cyberjaya.

"We believe the public transport facility is the de facto mode of transportation going forward, thus the completion of MRT2 by mid-2023 will be an advantage to our purchasers,” he said.

The group would be launching another new residential project in Puchong by year-end, he added. — Bernama