Binastra Land aims to launch CitiZen 2 by 3Q2017

Tan Ai Leng | TheEdgeProperty.com
Saturday, 20 May 2017 06:14:23 AM

CitiZen 2

PETALING JAYA (May 20): Binastra Land Sdn Bhd plans to launch CitiZen 2 in third quarter of this year. The development with a gross development value (GDV) of about RM500 million is located along Old Klang Road, Kuala Lumpur.

The 3.32-acre freehold development is located next to the company’s CitiZen serviced apartment project. The latter was launched in September 2015 with a GDV of RM502 million and has seen 98% of its 711 units taken up.

Binastra Land project director Steven Ooi Hock Ang told City & Country that CitiZen 2 will be offering 837 units of serviced apartments that are housed in three towers.

The built-ups will range from 725 sq ft to 883 sq ft and purchasers will have a choice of 2 and 3-bedroom layouts. The average selling price is RM435,000 or RM600 psf.

“Citizen 2 is for the younger generation — single working adults and newly-weds. It will offer 45 different facilities, including four badminton courts, a full-sized futsal court, two swimming pools and kid’s pool as well as three sky gardens,” he added.

The project is expected to be completed by 2020.

Meanwhile, Binastra Land is also planning to launch another high-rise leasehold project called Sinaran at Wangsa Maju.

Ooi said the company is eyeing to launch Sinaran in either the fourth quarter of this year or early next year. It will offer 206 units with built-ups similar to CitiZen 2.

The project site is located next to an Aeon Jusco shopping complex and within walking distance to the Wangsa Maju light rail transit station.

Moving away from Kuala Lumpur, Binastra Land is going into medium-cost apartments in Puchong next year, with a tentative plan of building more than 1,000 units.

On its Trion development in Sungai Buloh, Ooi said the company has deferred launches to either the end of this year or early next year, depending on the market situation.

The RM1 billion GDV mixed development comprises three blocks of serviced apartments and hotels with retail components.