Afiniti condo in Iskandar sold out in under six hours

[reporter2]

http://www.straitstimes.com/archive/...hours-20130610

Afiniti condo in Iskandar sold out in under six hours

Published on Jun 10, 2013


AFINITI Residences, a condominium project in Iskandar Malaysia, was sold out within 51/2 hours last Saturday, with Singaporeans making up a quarter of the successful buyers.

Over a thousand people turned up that day at a balloting exercise for the project in Iskandar's Medini area, vying for just 88 units.

By 4.30pm, all available units had been sold.

The project, developed by Pulau Indah Ventures (PIV), a 50-50 joint venture between Temasek Holdings and Khazanah Nasional, will have 147 units.

However, 59 of these units had been set aside for stakeholders, including the developer and its partners.

Malaysians made up 72 per cent of the buyers, with those from Johor taking up 37 per cent of the units.

Singaporeans formed the next largest group of buyers, taking up 25 per cent of the homes on sale.

The remaining units were sold to Indonesian, Indian and Chinese nationals.

The homes ranged in size from 484 sq ft to 1,064 sq ft. Prices started from less than RM500,000 (S$202,000) for a studio apartment to less than RM1 million for a two-bedroom unit with a study.

This translates to RM850 to RM1,000 per sq ft, with units facing the Legoland theme park commanding higher prices.

"PIV is also in conversations with a few international property management companies to provide property management and external leasing services to buyers," the developer said in a statement yesterday.

The developer added that it is also seeing interest from corporate tenants who are keen to lease the commercial spaces in the development.

"We will be selective in the choice of tenants and stay true to our vision of establishing Afiniti Medini as an iconic wellness hub in the region for families, tourists and professionals to enrich, recharge and rejuvenate themselves," said PIV general manager Roslina Arbak.

Afiniti Residences is part of Afiniti Medini, a 2ha integrated development which will also include a wellness centre, wellness-themed shops, a corporate training centre and serviced apartments.

The entire development, which is located next to Legoland, will be completed by end-2015, with construction having begun earlier this year.

YASMINE YAHYA

[reporter2]

http://www.businesstimes.com.sg/arch...aunch-20130610

Published June 10, 2013

Afiniti Residences sold out on launch

By cai haoxiang


[SINGAPORE] Afiniti Residences, a 147-unit condominium project in Iskandar Malaysia, was sold out on the first day of its highly anticipated launch on Saturday.

This was the first property launch by a 50:50 joint venture company between Temasek Holdings and its counterpart Khazanah Nasional, called Pulau Indah Ventures (PIV). It was also the first time that leasehold homes were launched in Iskandar.

Singaporeans made up one in four buyers, PIV said yesterday.

The rest were mostly Malaysians, including 37 per cent from Johor. Just 3 per cent of units sold were to other nationalities such as Indonesians, Indians and Chinese.

The 129-year leasehold residential project features 21-storey towers with studio, 1+study, 2 and 2+study units. It is located beside Legoland in Nusajaya.

The selling price is RM850 to RM1,000 (S$345 to S$406) per square foot. Units range from 484 sq ft to 1,064 sq ft in size. Prices range from below RM500,000 for a studio to under a million ringgit for a 2+study unit.

Last week, 1,570 people registered their interest online for the project. A Straits Times report said that about 200 interested buyers showed up for balloting on Saturday morning. Some 88 units were up for grabs by the public, with the remaining 59 set aside for stakeholders such as developers and their partners.

Afiniti Residences is part of Afiniti Medini, a 2ha integrated development that includes a five-storey wellness centre, health-related shops and services, a four-storey corporate training centre, and a 310-unit serviced apartment project managed by The Ascott.

Construction on the entire development began early this year and is expected to be completed in 2015.

PIV general manager Roslina Arbak said in a statement yesterday that PIV continues to see interest from potential tenants in the development's retail, wellness and training spaces.

"We will be selective in the choice of tenants and stay true to our vision of establishing Afiniti Medini as an iconic wellness hub in the region for families, tourists and professionals to enrich, recharge and rejuvenate themselves," she said.

[Nman]

all the medini not free hold, I prefer free hold at Dangga bay or kempas