Damansara City opens Pre Launch Sale

Damansara City, a luxury-integrated development worth RM2.5 billion (SGD927 million) in gross development value by GuocoLand (Malaysia) Berhad (GuocoLand) will open a special pre launch sale for Singaporean investors between 11.00 am to 7.00 pm from Saturday, 9 May 2015 to Sunday, 10 May 2015 at The Island Suite, Marina at Keppel Bay, Singapore. GuocoLand is a 65 percent owned subsidiary of Singapore-based GuocoLand Limited.
  • Luxury integrated development offers Singaporean investors unique opportunity to invest in Malaysian luxury enclave
  • Pre launch sale begins 9 May 2015 to 10 May 2015 at The Island Suite, Marina at Keppel Bay
  • Residences to be completed by end 2015
The integrated development – comprising the high-rise luxurious ‘DC Residency’, two Grade A office towers, a F&B-centric covered lifestyle mall and a UK-managed 5 star hotel  –  is at various stages of completion and will be fully operational  by mid 2016.  DC Residency  will be  the first phase that will be completed and delivery to purchasers will begin end 2015, six months ahead of the full completion of the project.
Tan Lee Koon, Managing Director of GuocoLand said, “The construction of Damansara City is near completion  and the residences are actually being offered as a build-and-sell  concept. Combined with the quality finishing  we offer that include high end kit outs for the residences, integration  of a city within a city,  and access through multiple highways and the Mass Rapid Transit (MRT) station that is being built next to Damansara City, DC  Residency is  a perfect combination that  is  peaking  the  interest  of  investors  and  tenants  in  Singapore  and  around Asia.”
Priced at RM1,600 (SGD596) per square foot for the residences, Damansara City is setting a new benchmark in not just the Damansara Heights area but  in greater Kuala Lumpur and the regional  property market as well.  Damansara Heights is a high-end luxury enclave that has seen very little new development over the past 20 years. 
Damansara Heights’ strategic location, which is a mere five kilometres from the KL city centre, as well as its close proximity to KL Sentral and other established townships like Petaling Jaya, Bangsar and Mont Kiara,  have  always been its main selling point and greatest strength. The choice  of  destination for Malaysia’s most influential  people,  living in Damansara Heights  is often seen as the highest mark of stature and  an  accomplishment to live there. To date, the development  of  Damansara  City  has  contributed  to  an  increase  of  between  eight  and  12 percent in property valuations for the surrounding area over the past two years.
Jewel of the Klang Valley
DC Residency offers two 28-storey residential towers for discerning buyers. These  consist of 370 contemporary designed serviced apartments with built-up areas (for typical units) ranging between 899 sq ft (1 bedroom) and 2,705 sq ft (3+1 bedroom).
The  elegant  DC  Residency  offers  unrivaled  facilities  together  with  premium  fittings.  These include  Poggenpohl  kitchen  cabinets,  Catalano  sanitary  wares,  Gessi  Emporio  fittings  and reputable home appliance brands such as Miele, Bosch and De Dietrich. Matching the desired fittings  are  top-class  amenities  including  an  Olympic-length  salt  water  infinity  pool,  aqua gymnasium, cabana, landscape garden, function rooms and private dining rooms for residents to host private events and entertain guests.
“Given Damansara Heights’ prime and exclusive location, we expect to see steeper price tags for all upcoming projects in the next few years. This is driving the current wave of interest in Damansara City as we offer tremendous value for savvy investors who recognise the potential of being a first mover on what would be an investment with the potential for double-digit  growth in valuations in coming years.  To date, we have sold 50 percent of the units prior to our launch via private placement, seen tremendous interest in the mall tenancy and secured the majority of tenants for our office towers,” explained Tan. 
For the mall and hotel, Tan said GuocoLand planned them especially to attract people staying in the neighbourhood by  focusing on food and lifestyle offerings that support the needs of the community within and surrounding Damansara City. This  is  part of  its  promise of  offering a luxury lifestyle that comes with  a  five-star service. The  Clermont Hotel Group from London, which is making its debut in Asia, will operate the hotel. 
Damansara City is an integrated development and GuocoLand expects to complete the entire project by the end of the first quarter in 2016. This is creating a great degree of interest in DC Residency,  as other developments in the surrounding vicinity are  not expected to be completed for at least the next three years. 
“Damansara City is about setting the bar  for what developments should be moving towards, as well as creating a new benchmark for people who appreciate the true meaning of quality and a luxury lifestyle,” added Tan.
Damansara Heights has become a key target  for investment among local and international buyers  who are  looking  to invest in  integrated high-end property in  Kuala Lumpur. Over the years,  the  tranquil  neighbourhood  has  been  a  steady  investment  magnet  to  affluent homeowners and expatriates but recent  interest  in  developments  in the area  has  reignited higher demand for the increasingly scarce property within Damansara Heights.
Damansara  City  has  already  won  two  awards  at  the  Asia-Pacific  Property  Awards  2012, namely the 5-star Award in the Residential  High-Rise Development and Highly Commended Award in the Retail Development category. Damansara City is also an important Entry Point Project under Malaysia’s Economic Transformation Programme.
GuocoLand (Malaysia) Berhad  is the property arm of the Hong  Leong Group. With a history that spans over 50 years, GuocoLand Malaysia has built an enviable track record as a leading property developer in residential townships, commercial and mixed development projects in Malaysia.
It is part of the Singapore-based GuocoLand  Ltd, which  is a leading regional property player with established operations in China, Singapore and Vietnam. 
For more information on Damansara City visit  www.damansara-city.com  or visit  GuocoLand (Malaysia) Berhad’s website at www.guocoland.com.my.
ABOUT DAMANSARA CITY
Damansara City is an integrated project in Damansara Heights and by GuocoLand (Malaysia) Bhd’s, a subsidiary of the Hong Leong Group. The RM2.5 billion flagship project, spanning 8.5 acres of freehold land, boasts two 28-storey luxury residential towers (comprising 370 units)  known as DC Residency, two Grade A office towers, a five-star hotel which will be managed by Clermont Kuala Lumpur (part of Hong Leong Group) as well as a lifestyle mall. 
DC Residency, the lifestyle mall  and the office towers are expected to be completed by end 2015, and the  hotel, the Clermont Kuala  Lumpur (KL),  will be ready by early 2016. Damansara City  has been 
designated as an Entry Point Project under the Economic Transformation Programme, to push Malaysia to  a  developed nation status by 2020. DC will serve a working and residential population of 10,000 in the vicinity.
The entire Damansara City project is expected to be completed well ahead of the Sungai Buloh-Jalan Semantan MRT line, which is scheduled to be operational before the end of 2016. For more information about Damansara City, please visit www.damansara-city.com.

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