Since The Strand Damanasra was launched in October 2005, more than 90% of the 260 shop offices have been sold.

The 45-acre leasehold development boasts a gross development value of RM1 billion and comprises shop offices, business suites, service apartments, shopping mall and office towers. The project, designed by French architect, Nicolas Ayoub, also features al fresco dining along the main cobble-stoned boulevard.

Encorp Bhd chief executive officer Yeoh Soo Ann is pleased that the first phase shop offices that were originally sold at RM1.088mil each had appreciated more than 30% in value, with the latest launch sold between RM1.8 million and RM1.9 million.

However, despite the increase in price, the demand has continued to be strong with many repeat buyers, he said, adding that the façade and quality finishes were among the selling points for the project.

“There is no such commercial or dining area in Kota Damansara but there is demand for such a concepts,” Yeoh said, adding that the shop offices would be completed within 15 months instead of the usual 18 to 24 months.

The mall, apartments and office towers will be launched in the third quarter of this year and construction to begin by year-end. The project in its entirety is scheduled for completion by 2011.