Apr 8, 2013
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By Farah Wahida:

Bintulu Paragon is offering for sale 96 SOVO (small office versatile office) units priced from RM268,000, according to a report by The Borneo Post.

Located atop Bintulu Paragon’s Street Mall, the SOVO units are within close proximity to cafes, IT stores, restaurants, entertainment outlets and other conveniences, said Gerald Sim, Senior Manager at Naim Land Sdn Bhd for Bintulu property operations.

Moreover, “a Developer Interest Bearing Scheme (DIBS) would be available whereby buyers will be required to just pay between 10 percent and 15 percent first and not pay anything until after three years.”

Apart from making a great investment, these units can be converted into an apartment or office, said Sim. Naim will also shoulder the legal fees for the memorandum of transfer (MoT) as well as for the sales and purchase (S&P) agreement, including their stamping duties.

Upon completion, Bintulu Paragon’s Street Mall will feature the tallest condominium in the area, hotels, corporate office towers, SOVO suites and 1.4 million sq feet of retail space.

“Over 70 percent of lots at Street Mall have been sold out and the response was quite overwhelming,” noted Sim.

Located near the upcoming Bintulu Boulevard, phase I of Bintulu Paragon will include SOVO suites, condominiums, a business hotel and a three-storey street mall.


Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my

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Gurney Paragon will deliver, says developer

Research unit wary of pure office REITs

 

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