BANDAR Raya Developments Bhd sold 110 of the first 180 condominium units in its latest residential development, The CapSquare Residences, during the four-day soft launch that ended on Sunday.

''We had a good mix of buyers, bumiputra and non-bumiputra, property investors and owner-occupiers,'' said group general manager for marketing and sales, Rohan Cavaliero.

The 180 units have a total gross development value of RM170mil.

Cavaliero said the buyers were given a discount off the average selling price of RM450 per sq ft.

''The first tower block will be completed in two years,'' he told a media preview of the show units at the development site in Jalan Munsyi Ibrahim in Kuala Lumpur yesterday.

''The units are expected to give rental returns of between 4% and 8%, as well as good capital appreciation,'' he said.

Centred on the concept of Manhattan-style living, the CapSquare Residences is part of the 15.2-acre CapSquare integrated development – a mix of commercial, retail and residential properties, anchored by a 400-metre retail boulevard.

Cavaliero said to maintain a balanced mix of retail outlets in the integrated development, the company would only be leasing out the retail space.

The 180 condominium units, varying from 1,072 to 6,756 sq ft, comprise two- to four-bedroom units, each with maid's room, powder room, wet and dry kitchens, utility area and a yard.

Every unit comes with imported marble and solid timber strip flooring and has huge soundproof windows, as well as security and smart home systems.

Shared facilities include a jacuzzi and squash courts.

Source : The Star  06/10/2004