Share
PETALING JAYA: Mitraland Group plans to launch its latest project The Cascades @ Kota Damansara with an expected gross development value (GDV) of RM350 million in 3Q 2010.
Its sales & marketing manager Eddie Wong told theedgeproperty.com on Monday May 17 that the project on a 4.7-acre leasehold site is situated next to the Giant hypermarket and opposite The Strand in Kota Damansara, Petaling Jaya.
Initial plans for the mixed development include retail, commercial and residential components. “There will be three phases altogether and the first phase, which is expected to launch in 3Q, will be 5-storey shop offices,” Wong said.
Mitraland is currently developing C180 in Cheras, Kuala Lumpur. First launched in April 2009 the mixed development on a 18-acre freehold tract comprises commercial and residential components including a hotel.
On April 22 theedgeproperty.com reported that Mitraland is expected to appoint a foreign hospitality group to operate its first hotel at C180. The developer is now set to ink a partnership deal with The Accor Hotel Group on May 21 for its All Seasons Hotel brand. The Accor Hotel Group operates 15 hotel brands including Sofitel, Novotel, Ibis and All Seasons. Indicative room rates for the hotel at C180 are just below RM200. The hotel is expected to be completed in 2013.
The C180 project is a joint venture with an individual landowner. The developer also expects to launch the final phase of the commercial portion in the third quarter of 2010. This will offer 6-storey showrooms with a GDV of RM15 million.
Mitraland has completed more than six projects, mainly within the Klang Valley, worth over RM360 million. Other residential projects by the developer include the Kiara1888 along Jalan Kiara 3 in Mont'Kiara, and The Oasis @ Cheras in Taman Cheras Utama.
Kiara1888 is the developer's first luxury high-rise residential development with a GDV of RM140 million. The Oasis @ Cheras is an exclusive freehold gated-and-guarded landed residential project.
