KUALA LUMPUR – Malaysian singer, Datuk Siti Nurhaliza Tarudin had recently sign a deal to buy a one room apartment at The Istana during the launching ceremony of the project yesterday.
Local developer, Magna Prima Bhd.who became the main developer for the property in Melbourne, Australia featured Siti Nurhaliza as the first buyer and investor of the luxury home unit.
During the ceremony, Executive Director of Magna Prima Bhd., Datuk Rahadian Mahmud said, as much as RM714 million was invested for the project.
Not denying that the investment to The Istana as the very first project for the company, Rahadian sees the development of the project as an early measure to expand their business to foreign countries.
“The investment on The Istana is our very first project in a foreign country and in a way, it would speed up our measures to expand our business to foreign nations,” said Rahadian.
The development of the project has even given them profit as 62 percent of the units had been bought by Australians and international people.
The Istana is expected to be done by yer 2014 and it could provide chances to Malaysians to buy the units for those who are living there.
“We have seen that many chooses to buy foreign properties especially in Australia and United Kingdom because both are the centre of higher education institutions. Even Malaysian professionals are interested to invest in Australia,” he said.
The Istana is a 25 storey residential apartment that is situated in A’Beckett Street, right at the heart of Melbourne’s business center.
Previously, the project was known as Dynasty Living was developed on a 10,800 square meter land and it has 320 residential units.
The change of name to The Istana is a strategic way to show the architecture of Malaysia.
By Hanif Jh