Peter’s Holdings has unveiled plans to build a prestigious landmark, within the Taman Desa enclave. Named Papillion Desahill Condominium, the project will comprise 225 units of exclusive homes.
Sitting on 4.5 acres of one of the last few parcels of land in Taman Desa, the luxurious condominium will be priced from approximately RM400 per sq. ft. Papillon Desahill is a low density freehold condominium project with two wings of 15 storeys each, and will be completed by 2011.
This project will benefit from the collaboration between the developer and CIMB-Mapletree Real Estate Fund 1 (CMREF 1), a private real estate fund managed by CIMB-Mapletree Management Sdn Bhd.
At the media preview of Papillon Desahill Condominium, the synergistic partnership with CMREF 1 was announced by Peter Loke Kwok Seong, managing director of Peter’s Holdings Sdn. Bhd. in the presence of Raja Noorma Othman, chief executive officer, CIMB-Mapletree Management Sdn Bhd and Muhyiddin Razak, chief investment officer of CIMB-Mapletree Management Sdn Bhd.
Peter Loke said, “We are very optimistic about Papillon Desahill Condominium as the location as well as the concept we envisaged will garner good capital appreciation values. Over and above this, we have created an opportunity for our target audience, especially the young affluent purchasers and investors to be privileged home owners in this exclusive enclave. We have been receiving encouraging response since its soft launch early this month.”
“Furthermore, with CIMB-Mapletree coming on board, we are confident that it will further strengthen our position in the property sector as we move towards creating a niche in medium high projects in matured addresses such as Taman Desa, which is well connected and has the infrastructure and amenities in place,” added Loke.
Papillon Desahill Condominium is centrally located with easy access to Petaling Jaya and Kuala Lumpur through the New Pantai Expressway, Federal Highway, KLIA – Putrajaya Highway and new Smart Tunnel. Furthermore, it is close to Sri Hartamas, Bangsar and Mid Valley Mega Mall.
Raja Noorma Othman commented: “We see value in this project, which is on a freehold site located within a maturing residential neighborhood with easy access to KL City Centre.”
“This arrangement offers opportunities for both parties to contribute towards developing a quality product for our stakeholders and customers of Papillon,” concluded Raja Noorma.
Papillon Desahill Condominium, which is available in four designs, provides discerning purchasers a choice of homes with built up areas from 1,312 sq.ft to 2,059 sq.ft and prices ranging from RM480,000 to RM800,000 each. The highest units are the 16 penthouse duplexes with built up areas of 2,498 sq.ft to 3,661 sq. ft. which are offered at between RM1.1 million to RM1.6 million each.
Some of the features in Papillon Desahill Condominium are an infinity pool, Tai Chi Garden, jacuzzi pool, barbeque area, gymnasium, sun deck, children’s play area and multi-purpose court.
The Taman Desa area has reputed schools, a water theme park, a medical centre, commercial centres, community centres, established eateries, and other amenities, is a viable address that establishes itself as a prime location for potential home owners and is expected to attract more residents.
Papillon Desahill Condominium will be developed by Zeus-TNB Properties Sdn Bhd., an affiliate of Peter’s Holdings Sdn Bhd and solely managed by Peter’s Holdings.
