Pavilion Group to launch two residential towers with GDV of RM2 bln

KUALA LUMPUR: Property developer, Pavilion Group, plans to launch two residential towers consisting of 746 luxury units with gross development value (GDV) of RM2 billion by year-end.

1 Pavilion Property Consultancy Sdn Bhd sales and marketing director, Datuk Tracey Lai, said the residential towers were part of the group’s integrated development project, namely Pavilion Damansara Heights, with total GDV of RM9 billion.

“Atthemomentwehavereceived an overwhelming response with up to 2,500 potential buyers for the units,” she told reporters after the exclusive unveiling of Pavilion Damansara Heights yesterday.

She said the group hoped to capture at least 50 per cent take-up rate for both towers by year-end and between 80 and 85 per cent by first half of 2018.

“The units, from 600 square feet (sq ft) to 2,800 sq ft, are priced at an average price of RM1,800 per sq ft,” she said.

Pavilion Damansara Height , located at Pusat Bandar Damansara, sprawled over 6.47hectare of freehold land and would comprise 10 corporate towers, five residential towers and a retail mall, Lai said.

She said the project was a collaboration between Pavilion and Canada Pension Plan Investment Board.

Earlier, in her speech, Lai said, 85 per cent of the nine corporate towers that were launched earlier this year, had been sold.

“Being seamlessly connected to the Pavilion Damansara Heights Mass Rapid Transit, this development will be an ideal destination for locals and tourists, for business and retail, bringing the best of luxury and convenience in a centralised location.

“Pavilion Damansara Heights will elevate luxury living standards and transform Pusat Bandar Damansara into an elite township through our range of premium amenities,” she said.

Lai said the entire development was expected to be completed in stages by 2022. — Bernama