PETALING JAYA (Sept 11): CK East Group plans to launch a low-rise residential development in Kampung Kayu Ara, Petaling Jaya, sometime during mid-2018.
CK East managing director Ng Chong Kiat told TheEdgeProperty.com that the 5-storey development, which carries an estimated gross development value (GDV) of RM60 million, will comprise 67 units of low-rise apartments and “villas” on top of the apartments.
The development will feature single- and double-storey villas, he added. The single-storey ones will be built on the fifth floor, while the double-storey type will be built on the ground floor. However, all the villas will come with a private swimming pool.
“The development will be built on a 38,000 sq ft leasehold tract near Centrepoint Bandar Utama,” Ng said.
Initial plans are for 18 villas that will feature a private lap pool in each unit and the rest will be apartment units of varied layouts and sizes. The apartment residents will share a common swimming pool.
Meanwhile, CK East is targeting to launch a 29-unit double-storey terraced house project in Taman Melati, Kuala Lumpur, by the fourth quarter of this year.
“This freehold project has a GDV of RM22 million with an indicative selling price from RM700,000. We haven’t decided on the name for this project,” Ng said.
CK East is also the project manager for Rencana Royale (previously called Rencana TTDI), developed by Minda Muhibah Sdn Bhd in Kampung Sungai Penchala, KL.
Rencana Royale is a 2-acre commercial development on Malay reserve land and has a GDV of RM380 million. It comprises two towers of 627 Smart-office Flexible-office units with choices of executive suites, duplex executive suites, deluxe suites, duplex deluxe suites, 2-storey garden suites, retail lots and corporate suites, as well as two facility floors for business and leisure.
CK East director Tan Aik Huat said Block A, which was launched in 2014, has seen 90% of the 310 business suites being taken up while Block B, which was unveiled in February 2015, has seen 60% of the 317 units sold.
“We have a wide range of buyers from their early twenties to senior citizens who bought for their children for business or for rental investment,” he added.
Ng noted that the project is in a strategic location as it is easily accessible via Penchala Link about 2km away from Taman Tun Dr Ismail (TTDI) and 12km from KL city centre.
Slated to be completed by 2020, the average selling price is RM650 psf with the minimum selling price at RM280,000. The built-ups range from 472 sq ft to 5,000 sq ft for the duplex and corporate suites.
“Prices have increased over the years. The average selling price was around RM600 psf back in 2014 with the minimum selling price from RM250,000,” said Ng.
This story first appeared in TheEdgeProperty.com pullout on Sept 8, 2017. Download TheEdgeProperty.com pullout here for free.