MPI, Glomac team up to promote new residences

SINGAPORE: Malaysia Property Inc's (MPI) Singapore Gallery has launched a marketing initiative with Glomac Bhd to promote three new residential launches - Suria Residen (Kuala Lumpur), Mutiara Damansara Residences and Glomac Damansara Residences (Selangor) to Singapore home buyers and investors.

Glomac's group managing director/chief executive officer, Datuk FD Iskandar said Singaporeans, who were considering a second vacation home or making Malaysia their permanent resi-dence, would enjoy substantial savings during this one-week showcase at MPI Singapore Gallery.

"The attractive incentives, coupled with a strong Singapore dollar, will ensure upfront affordability with the long-term aim of capital gains and attractive rental yield," he said when announcing the partnership here yesterday.

MPI chief executive officer Kumar Tharmalingam said with a reputed developer like Glomac as partner, it affirmed once again MPI's standing as a Malaysian government-supported authority in bridging retail and institutional investors with the right developer and investment company respectively.

"With Glomac showcasing their newly-launched developments at MPI's Singapore Gallery, it assures Singapore home buyers and investors that their money is parked in a safe venture," he said.

From August 5-11 2011, Singapore buyers will enjoy exclusive incentives, which include a low booking fee of RM5,000, special discounts for select units, developer interest-bearing scheme until completion, absorption of sales and purchase agreement legal fee and first 12 months' maintenance charges.

Suria Residen, located at Batu 9 Cheras next to Venice Hill, is expected to be completed in 2013. The 0.48-hectare development will feature 16 double-storey semi-detached houses, each with a built-up area of 3,480 sq ft.Prices start from RM1.328 million.

Mutiara Damansara Residences, which is expected to be completed in 2015 and Glomac Damansara Residences in 2014, are freehold serviced apartments.

Mutiara Damansara Residences is located 25 minutes from Kuala Lumpur City Centre while Glomac's Damansara Residences, a mixed development that includes commercial and retail modules, is located 20 minutes from Kuala Lumpur City Centre. - Bernama