Sime Darby’s Cantara Residences Tower C now open for sale


Sales for Cantara Residences Tower C, a project by Sime Darby Property Bhd located at one of the last undeveloped plots in Ara Damansara, have been officially opened to the public.

Sime Darby Property senior GM for township development Zaharuddin Sa’at said in a recent statement that among the project’s selling point is its great connectivity to major highways.

Cantara Residences is also 500m from the Lembah Sungai light rail transit (LRT) station.

Comprising 188 units, Tower C is part of Cantara Residences, a freehold integrated development in Petaling Jaya, which is a thriving and well- connected township.

Cantara Residences was launched in May 2016, and it is made up of 888 serviced apartment units and 13 commercial units with a link-bridge connecting its four residential towers. The entire project is expected to be completed by 2020.

Its layout types range from one-bedroom and one-study room units with built-up areas from 60 sq m to 65 sq m, as well as the three plus two bedrooms with a build-up of 199 sqm.

To date, Cantara Residences’ two initial towers have seen a take-up rate of approximately 96% and 78% respectively.

The facilities planned for future residents of the development include two swimming pools, two wading pools and hot dip pools (with sauna and steam room facilities).

The project also offer two children’s playgrounds (dry and wet play), an aqua gym, half-basketball court, Sky Bridge, yoga lawn, futsal court, as well as a jogging track.

The Sky Bridge on level 18 connects all four residential towers for convenience, and the roof of the bridge is designed to build a wholesome community, topped with an open-air Damansara enjoy close proximity to the recently opened LRT linkage — the Kelana Jaya Line extension, which services Ara Damansara.

For the financial year ended June 30, 2017 (FY17), Sime Darby recorded a profit before interest and tax (PBIT) of RM801 million, down 32% from the previous year’s RM1.18 billion.

It also posted a PBIT of RM1.98 billion in FY17, an increase of 92% from RM1.03 billion in FY16. In the fourth quarter ended June 30, 2017 (4Q17), the property division posted a PBIT of RM413 million compared to RM493 million in 4Q16, representing a decline of 16%. The one-off gains in 4Q17 amounted to RM271 million against RM399 million in the same period a year ago.

Subsequently, the property division also made a provision of RM70 million for its inventories in 4Q17 and RM149 million for the full financial year.