The Sun Daily, 11 July 2006
By Loo Pik Kwan
PETALING JAYA: The Saffron, the second condominium in Sentul East under YTL Land & Development Bhd's billion-ringgit urban renewal development, has registered 60% sales.
According to the developer, the RM150 million project has attracted foreign buyers from Hong Kong, the US, the UK, United Arab Emirates and Qatar.
On the foreign interest, its executive director Datuk Yeoh Seok Kian said: "Given Malaysia's climate for foreign investment, we saw a large opportunity for the local property sector in foreign markets. The relaxation on foreign purchases and the Malaysia My Second Home programme have made it easier for developers to market their products overseas. The impact has been tremendous, as we've successfully courted property markets across Asia and in the UK and Europe as well."
Yeoh added that when the company started its registration exercise for The Saffron last year, the property market conditions were soft. "The only way to ride this dip in the cycle was by providing homes that meet the most stringent quality standards."
Developed by a subsidiary, Sentul Raya Sdn Bhd, The Saffron comprises 467 units housed in four blocks. With two blocks of 17 storeys and another two of 24 storeys, the built-ups are from 1,000 to 1,873 sq ft. Prices start from RM239,000 and the maintenance fee is 25 sen psf.
Sited on 4.6 acres of freehold land, the units come in five sizes and layouts. There are 3-, 3+1 and 4+1 bedroom units. Some units on the podium deck offer a private garden and water features. It is scheduled for completion in March 2009.
The surroundings will have extensive landscaping and features three pools, themed gardens and a one-acre Saffron Park. The Tamarind, which is the first development by YTL Land & Development in Sentul East, was launched in 2002. The four-block development has a total of 498 units and a gross develop ment value of RM130 million.
Meanwhile, the Sentul Link, which will connect Lebuhraya Mahameru to Sentul, is sched uled to open next month. With the opening of the flyover, motorists can expect smoother travel between Lebuhraya Mahameru and Jalan Sentul. The link, a Design & Build project under Dewan Bandaraya Kuala Lumpur, is undertaken by a YTL subsidiary, Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd. It was to have been completed by the middle of the year.