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Thursday, 22 June 2017

(NST) New, attractive package for 28 Dutamas


BT HOMESTEAD Development Sdn Bhd is taking a conservative approach for the sale of the remaining units at its 28 Dutamas project in Kuala Lumpur as buyers face issues with end-financing.

End-financing issues and loan rejections have been plaguing the property market since 2014. This has affected first-time home buyers and upgraders, as well as developers who are unable to sell their properties in large quantities.

BT Homestead director GB Tan said the company was offering an easy ownership package for the remaining units in 28 Dutamas in order to fully sell off the project.

28 Dutamas, located on a 1.26ha freehold site along Jalan Dutamas Raya, was launched in 2014, and almost 80 per cent of the units have been sold.

It comprises two 23-storey blocks with 250 units of condominiums and penthouses. The gross development value (GDV) is RM238 million.

The built-ups for the units range between 1,253sq ft and 1,719sq ft and penthouses from 1,855 sq ft and 2,590 sq ft.

The selling price was RM688,000 to RM1.6 million when it was launched in 2014.

The final units for sale consist of Type C layout with a built-up of 1,719 sq ft.

Tan hopes to sell these units over the next few months.

“28 Dutamas has attracted a lot of interest with a majority of buyers from the middle-to-upper-middle income group in their late 30s to 50s,” he said.

Tan said barring any unforeseen circumstances, capital appreciation for this project is expected around 10 to 20 per cent in the next five years, and rental yield of between four and five per cent per year.

“With its ideal location, quality finishing and host of facilities, we are certain that the value of 28 Dutamas will steadily increase year after year, offering good returns to investors.”