Oval rises in KLCC

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)

KLCC condo prices expected to double

LUXURY properties in the Kuala Lumpur City Centre, which cost around RM1,500 per sq ft now, could double in price once two new projects are launched this year, an industry executive said. They are the six-star Four Seasons Hotel and Four Seasons serviced apartments and Millennium Residences.“They are seen as the crème de la crème and will set a new benchmark pricing in the city area,” said Knight Frank Malaysia managing director Eric Ooi Yew Hock. Four Seasons, which will be built near the Petronas Twin Towers for RM1.6 billion, is a project by Tan Sri Syed Yusof Tun Syed Nasir and the Sultan of Selangor, Sultan Sharafuddin Idris Shah.Millennium Residences at Jalan Bukit Bintang, is being developed by City Developments (Malaysia) Sdn Bhd, which is part of Singapore’s Hong Leong group of companies for some RM500 million. Read more

(New Straits Times 1-3-2008)

UM Land set to launch three high-end condos in 2008

This year is expected to be a positive one for United Malayan Land Bhd (UM Land) as the developer will be launching three high-end condominium projects with a gross development value of over RM1 billion by end-2008 said its CEO Anthony Yap.For the first quarter of the year, UM Land will be launching its RM 175 million Suasana Bangsar in Bangsar.“It consists of a single luxury residential tower housing 190 condo units with sizes from 1,112 to 4,800 sq ft. We are confident of the success of this freehold project based on the high level of interest gathered from the early registrants,” he said.In the second half of 2008, UM Land’s 310 units of serviced residences in the enclave of Bukit Ceylon will be launched. “Given the attractive location and development potential of this project, it is expected to contribute positively to future earnings of the group,” Yap added. Meanwhile, a third condo project located along Jalan Mayang, off Jalan Yap Kwan Seng is scheduled for launch by the fourth quarter of the year.

(The Sun 29-2-2008)

Buyers snap up Gaya Bangsar units

NATIONAL property development agency UDA Holdings Bhd has sold 95 per cent of Gaya Bangsar, its latest high-end development in Kuala Lumpur, within a week of the pre-launch. Gaya Bangsar is a 34-storey full-service luxury condominium tower that comprises 285 residential units ranging in size from 671 sq ft to 1,610 sq ft. The units are priced between RM350,000 and RM900,000 each. UDA expects to begin construction on the 0.5ha site next to Dataran Maybank in July.

(28-1-2008 New Straits Times)

Crest Builder Bags KL Condo Contract

CREST Builder Holdings Bhd's wholly-owned subsidiary Crest Builder Sdn Bhd has been awarded a contract worth RM285 million for the completion of a condominium in Kuala Lumpur. The contract by Starpuri Development Sdn Bhd. was for the execution and completion of the proposed condominium development on Lot 1315, Seksyen 57, Jalan Ceylon. The contract for 34 months, begins from the site possession date set for February 1 2008 and should be completed by December 1 2010, the company told Bursa Malaysia yesterday.

(26-1-2008 New Straits Times)

Crest Gets RM285m Job

KUALA LUMPUR: Crest Builder Holdings Bhd subsidiary Crest Builder Sdn Bhd has been appointed main contractor for a proposed 43-storey condominium development in Kuala Lumpur in a deal worth RM285mil.The contract, the biggest secured by Crest Builder so far, was awarded by developer Starpuri Development Sdn Bhd, a subsidiary of DNP Holdings Bhd. The latter is an outfit of Singapore's Wing Tai Asia. Crest Builder business development director Eric S.M. Yong said with the latest contract, the company's current order book had risen to RM1.21bil.

(25-1-2008 The Star)

Mideast investor keen on project

Negotiations are under way with a Middle Eastern investor for the en bloc sale of the two remaining blocks of the upmarket D’Rapport Condominium project along Jalan Ampang here, said Acmar International group chairman Datuk Abdul Samad Maharuddin.The project, jointly undertaken by Permodalan Negeri Selangor Bhd and Perspektif Masa Sdn Bhd, a member of Acmar International, comprises five blocks offering a total of 1,099 units.The current selling price for D’Rapport averages RM700 per sq ft, and the units are priced from RM700,000 each.

(21-1-2008 The Star)

Mideast investor keen on project

Negotiations are under way with a Middle Eastern investor for the en bloc sale of the two remaining blocks of the upmarket D’Rapport Condominium project along Jalan Ampang here, said Acmar International group chairman Datuk Abdul Samad Maharuddin.The project, jointly undertaken by Permodalan Negeri Selangor Bhd and Perspektif Masa Sdn Bhd, a member of Acmar International, comprises five blocks offering a total of 1,099 units.The current selling price for D’Rapport averages RM700 per sq ft, and the units are priced from RM700,000 each.

(21-1-2008 The Star)

Hua Yang Buys Condo Site On KL-Seremban Highway

Predominantly involved in development in Perak and Johor, Hua Yang Bhd is now seeking to make a foray into the Klang Valley. Towards this goal, it is acquiring 16.65 acres for Rm40 million (or RM2.4 million per acre) from Bumper Wood Sdn Bhd (BWSB).

(12-01-2009 New Straits Times)