KUALA LUMPUR (March 2): Damansara Fifty6 Sdn Bhd, a wholly-owned subsidiary of Allstones Group Asia Sdn Bhd has launched Damansara Fifty6, a low-density condominium project in Damansara Heights, Kuala Lumpur today.

Featuring 56 units including four duplex units, the 1.11-acre leasehold project has an estimated gross development value of RM75 million, according to Allstones Group Asia group chief executive officer K H Sim.

The condos will be housed across two separate blocks — Block A (four storeys) and Block B (11 storeys).  The unit built-ups range from 1,356 sq ft to 3,510 sq ft, with prices at an average of RM830 psf.

Each unit will come with two carpark spaces while the duplex units will have four carpark bays each.

“We came across this land about five years ago. It is located between Bukit Tunku, Damansara Heights and Bangsar precincts. We are targeting homebuyers who value privacy and tranquillity in the city.

“Thus far, about 20% of the units have been pre-booked,” Sim told reporters on the sidelines of the official launch today.

As privacy is the central theme of the development, each condo unit has a powder room so guests do not intrude the private bathrooms of the homeowners.

“There are a few units that we call loft units, which homeowners can turn into extra storage or children’s play areas or whatever they like,” he added.

The gated-and-guarded development, will have a four-tier security system as well as facilities such as a 25m infinity pool, sauna, barbeque area, hammock garden, hybrid vehicle charging stations and a gym.

The development is a stone’s throw away from Damansara City Mall, Bangsar Shopping Centrel, Semantan and Pusat Bandar Damansara MRT stations, HELP University, Pantai Hospital KL as well as the Perdana Botanical Garden.

It is also accessible via Jalan Tuanku Abdul Halim, Jalan Semantan and Jalan Syed Putra.

Sim noted that most business owners and investors are waiting for the general election to take place, thus he expects the Malaysian property market to stabilise after the election, as the country’s direction will be clearer then.

Allstones Group Asia was established in 2000, with businesses in property development, investment and real estate management services. It has since developed a niche in specialised situation projects and has undertaken residential, commercial, hotel and retail developments across Malaysia.

Past developments include Taragon Puteri YKS in KLCC, Taragon Puteri Cheras, Taragon Puteri Bintang, Plaza Taragon Kelana and Seremban Prima Mall.