The development of the country continues, with many buildings set to be fully operational in the coming few years. Folks in Klang Valley might be aware of the condominium, known as M Vertica in Cheras, KL, which some Malaysians have dubbed the place “mini Hong Kong” in Malaysia.
At the time of writing, the “mini Hong Kong” that’s standing still in the midst of KL city has no completion date, but one of the units in the condo is reportedly being auctioned next month in November, at the price of RM470,000 for an 850 square feet unit. According to a post in the Facebook group Selangor Auction Property, the auctioning will take place on November 9, which is less than three weeks from now.
According to a report by The Edge Markets, as of June this year, more than 80% of Mah Sing’s M Vertica has been taken up, and the residential building is expected to be fully handed over to residents by 2023.
M Vertical has 5 towers and in total, there will be 3,684 units with the number of units in respective towers as below.
- Tower A with 808 units
- Tower B with 685 units
- Tower C with 752 units
- Tower D with 793 units
- Tower E with 646 units
The selling price starts at RM480,800 with a maintenance fee of 35 sen per square foot.
The auction post has gained the attention of many Malaysians, but most of them have shown little to zero interest in purchasing the unit. Concerns are mostly expressed toward the possible traffic congestion in an area that is already congested before the handover even begins.
Congestion is not the only issue raised in the comment sections but also the price, which some of the netizens thought was too high even for an auction price.
However, if you happen to be interested in the unit, you can monitor the progress of the development through the official website of M Vertica.
The traffic congestion, especially in Klang Valley is yet to be resolved and has seemed to get worse since the transition into endemicity. With more ongoing development, do you think the opening of M Vertica will contribute to the traffic in Cheras? What do you think of the auction price of the unit?
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