KUALA LUMPUR: Maymont Development Sdn Bhd expects to sell all 158 Matahari luxury super condos worth a total of RM700 million in Desa Sri Hartamas in six to eight months, said its head of sales Prabu Anathan.

"About 43% of the units has been taken up largely by local buyers for both investment and staying purposes," he told a media briefing here yesterday.

Construction work on the project started in 2007, and it is poised to be completed in 2011.

"The construction work now is about 35% completed, and we are expecting to hand over keys to the owners in 2012," Prabu said.

The 5.2 acres Matahari project is located next to Damansara Heights, near Kenny Hills. It consists of 129 superior, 12 duplex and 17 penthouse units, ranging from 3,090 to 10,823 square feet. The prices range from RM3.11million to RM10.77million. Prabu said investors could impressive rentals per annum for their monthly mortgage repayments.

"The concept of a 'bungalow in the sky' not only makes its position unique among other condominiums but also makes this ideal property for Malaysia's expatriate rental market," he said.

He added: "We estimate that the superior units would attract rentals of between RM16,000 and RM18,000 per month, giving a yield of about 6% per annum and enabling banks to offer financing of up to 90%."

Each luxury super condo will have three allocated car park bays, while the penthouses are entitled to four.