Esque South Yarra to launch by April

PETALING JAYA (March 11): Mitraland Group plans to officially launch its Melbourne high-rise residential project Esque South Yarra by early April this year in Melbourne.

Mitraland sales and marketing general manager Eddie Wong told TheEdgeProperty.com that the project preview in Malaysia had taken place during the first weekend of this month.

“A total of 13 units were taken up that weekend. We are aiming for 30% of our buyers to be from Malaysia or other countries, except for Australia. Our main target market is still Melbourne locals,” said Wong.

Esque South Yarra is located on a freehold land in South Yarra, Victoria.

The apartment consists of 66 units with built-ups ranging from 818 sq ft to 1,829 sq ft. The selling price psf starts from A$862 (RM2,647).

The facilities of the project are a rooftop garden, lobby, bicycle storage space and carparks. The A$56 million (RM172 million) project is slated for completion at end-2018.

“Victoria state has the second highest migration rate in Australia while South Yarra was voted as Melbourne’s second most livable suburb that had the fastest growth over the past financial year. Our project is only 550m away from the South Yarra train station and 4km away from the city centre,” he noted.

On Malaysia’s property industry outlook this year, Wong said Mitraland is positive on the future and will continue to offer more affordable range products in well-connected locations.

“With the development of the MRT and LRT lines that will enhance connectivity to Greater KL including Kajang, Semenyih and Klang, it will bode well for the residential and commercial projects in these areas. Mitraland strongly believes that housing is a necessity, and the demand will only raise with the increasing urbanisation and higher population,” he said.

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