The rising prices of superluxury condominiums in the vicinity of the Kuala Lumpur City Centre (KLCC) is one reason GuocoLand (M) Bhd is confident its latest project will be well received.Its chief executive officer Paul Poh said prices for a unit at its Oval project is on an average RM1,500psf, although neighbours are indicating they would be pegging the prices upwards of RM2,000psf.“The Oval’s prices have been fixed for now and therefore any upside in capital gains should rightfully accrue to the buyers,” he said.“For us, reputation is of utmost importance, rather than short-term gains.”However, Poh said prices could be reviewed at the time of the official launch, tentatively scheduled for June.Rising on a 2.14-acre freehold site, the 41-storey twin towers, dubbed East and West, will each have 70 units. GuocoLand purchased the property from Titan Debut Sdn Bhd, when it was 30 per cent complete, in April last year for RM404.58 million.The company has sold 30 per cent of the units so far, after a sales preview held last month.
(4-3-2008)
