UEM Sunrise buys Melbourne office building for RM161m

 

KUALA LUMPUR: UEM Sunrise Bhd has recently completed its third property acquisition in Melbourne, for A$58mil (RM161mil), which it intends to develop into a luxury residential project.

This comes after its purchase of two CBD sites on LaTrobe Street and Mackenzie Street in October 2013.

 

The property, a 21-storey office building on 412 St Kilda Road, one of the main routes into the Melbourne CBD and spans 16,000 sq m. UEM said it intends to for the property is to develop an 

 

“ultra-luxurious” residential development, potentially with a mix of ground floor retail and serviced apartment components.

The building is currently occupied by the Victorian Police and will be vacated after mid-2016. The property has views of the Royal Botanic Gardens, Shrine of Remembrance, Albert Park and Port Phillip Bay.

 

“The decision to acquire the 412 St Kilda Road site is part of our strategy to ensure steady flow of overseas projects. The property is in a different location from the two core CBD sites we currently own. Being in the city fringe, it promises a different lifestyle and thus, will appeal to a different market segments,” said managing director/chief executive officer Anwar Syahrin Abdul Ajib.

He said the acquisition is timely and would strengthen UEM’s momentum of its pipeline projects in Melbourne.

 

Besides Melbourne, UEM is also pursuing development opportunities in key cities such as Sydney and London. It also has presence in Vancouver, Canada and has land bank in Durban, South Africa.

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Space abounds in Ceria Residences

By: Thomas Huong

Stylish villas: Artist’s impression of the two-storey terraced villas of Ceria Residences by Setia Haruman.

The low density project offers multiple amenities

ALMOST two decades after its inception, Cyberjaya has reached a tipping point in terms of infrastructure development and population growth.

With a population of about 90,000, master developer of the 7,000-acre township Setia Haruman Sdn Bhd is working towards increasing its critical mass.

Several universities have set up their campuses there and about 40 multinational companies have moved there.

Ahmad Khalif says more people are moving to Cyberjaya.

“Besides the student population, many are upgraders from Puchong.

Executive chairman Ahmad Khalif Tan Sri Mustapha Kamal says more people are moving to Cyberjaya while working in Petaling Jaya and Kuala Lumpur.

There is considerably less population as there are no factories there, says Ahmad Khalif. Close to half of Cyberjaya is reserved for public amenities and greenery.

Most of the developments there are gated and guarded with security features.

“It is a lifestyle that is quite unique,” he says, adding that the distance has not been a deterrent as it is served by North-South Expressway Central Link, Damansara-Puchong Highway, Maju Expressway, Elite Expressway and South Klang Valley Expressway.

According to the Cyberjaya website, about 71% of its land has been developed, under construction, or in planning stages.

Besides being the master developer, Setia Haruman is also the developer for some of the parcels. This means it will be able to offer buyers a somewhat more competitive rate because there isn’t a second developer to cream off the margin.

Known as Ceria Residences, Setia Haruman will be launching Tower Two of Ceria condominiums on Aug 1.

Consisting of 150 units of two-storey terraced villas and 350 condominiums in two towers spread over 19.5 acres, Ceria Residences has seen strong sales. Incidentally, this is a freehold gated and guarded development.

The villas were launched in July last year and the take-up rate is 80%, while more than half of Tower One of Ceria condominiums has been sold since its launch in November last year.

The villas have lot sizes ranging from 22 x 75 ft to 24 x 80 ft, with large built-up area of 2,679 sq ft onwards, as well as five bedrooms with five ensuite bathrooms. Prices are from RM911,800 to RM1.18mil, or from RM337 per sq ft.

The condominiums are from 1,000 sq ft (Type A which are three-bedroom units) to 1,292 sq ft. Prices for available condominiums start from RM546,800, or from RM500 per sq ft. The development has a gross development of value of RM330mil.

Designer condos: Artist’s view of the two condominium blocks.

A hit among owners and investors

So far, the project seems to have been a hit with families and upgraders who relish the space. For investors, larger condominium units have a dual key concept which allow owners to get extra rental income.

This is because Type B (1,191 sq ft) and Type C (1,292 sq ft) condominium units are designed with a studio suite with its own bathroom and separate entrance, in addition to a conventional three-bedroom/two-bathroom layout.

“The dual key concept allows a home owner to have two homes in one. Imagine owning a typical three-bedroom condominium but attached to this unit is a studio suite complete with its own kitchen and bathroom. This studio unit has a separate key and entrance,” says Ahmad Khalif.

 “Investors have the freedom to rent out both the larger conventional and studio units, or just rent one and occupy the other. Also, for big families, the dual key concept is convenient – essentially, you have four bedrooms/three-bathrooms,” says Ahmad Khalif, adding that rental demand was good due to the many multinational corporations and institutions of higher learning in Cyberjaya.

He noted that high-rise units with one to three bedrooms in Cyberjaya had provided decent rental returns.

“A 600 sq ft unit can command a rental of about RM1,400 per month. Units such as Gardenview Residence measuring 1,023 sq ft have been rented out at RM2,600 per month,” says Ahmad Khalif.

He says buyers like the low density development, with an overall 25 units per acre.

Show room: Inside a show-unit for the condos.

Ample parking

Condominiums, depending on built-up areas, come with two for three covered car parks and multiple air-conditioners.

Owners will share a club house with facilities which include pool, gym, sports hall with two badminton courts, an indoor half basketball court and a children’s playground and a Rimbun Ceria recreational park.

In terms of security, the development has a closed circuit television and vehicle card access systems, as well as individual gate and fences for terraced villas.

Another highlight is the 100Mbps Internet broadband speed, offered at RM179 per month.

“This high speed Internet connection at a competitive price will be an added advantage,” said Ahmad Khalif.

Monthly service charges for Ceria Residences units are at RM100 to RM130 per month for the villas and 20 sen per sq ft for the condominiums.

Two shop lots and a cafeteria located at the Anjung Ceria clubhouse and more than 140 car parks at the Ceria Condominiums will be transferring to the residents’ management corporation. This will enable it to collect rental revenue to offset some of the service charges, says Ahmad Khalif.

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More protection for homebuyers

Making changes: A file picture shows visitors looking at some houses for sale at a property fair. The significance of raising the bar will phase out smaller and “fashionable” developers out of the housing development system while ensuring serious players deliver on their promise under a much-regulated regime.

PROPERTY development has captured the imagination of Malaysian businesses across the board in the last decade.

Almost every sizeable company has a property division and almost all businesses with extra cash and land bank are venturing into property development.

Even landowners without capital are joint venturing with developers to ensure they share a bite on this seemingly expanding yet lucrative piece of cake.

One may see companies relocating their operation or headquarters from the prime land, which they were sitting on, to start their claim as a property developer on the land.

To further maximise the return on land and match with the preferred lifestyle of living in urban Malaysia now, the strata format has gained momentum.

Not to mention that the current market trend is to move out from the “nest” after one is financially independent.

With the effective implementation of Housing Development (Control and Licensing) (Amendment) Act 2012 (“HDAA”), Strata Titles (Amendment) Act 2013 and Strata Management Act 2013 (both “Strata regime”) on June 1, the rules of the game are now changed and the barrier of entry has never been higher.

Previously, housing developer has to deposit RM200,000 with the Controller of Housing (“controller”) as a requirement for the developer licence and it is now increased to 3% of estimated cost of construction minus land cost. This will open up a floodgate of consultation until an amicable agreement is reached.

It is also a requirement now under the strata regime to file the schedule of parcels prior to the developer selling any parcel or proposed parcel in the development area which in effect restrict the developer from making any adjustment to the proposed quantum of provisional share units for its later phase development.

The mere act of filing is simple but the upfront commitment in limiting the commercial gain is painful to the developers.

There are also notable amendments to the prescribed sale and purchase agreement under HDAA 2012 especially Schedule H that facilitate the strata residential development.

Under the new Schedule H to be used for housing project with advertising permit and development licence issued after June 1, the developer has to settle the redemption sum owed to its bridging financier if the amount of redemption sum is more than 35% of the purchase price before the purchaser makes payment in excess of 50% of the purchase price.

The purchaser need not make any further payment until the developer complied with the same.

The stipulated manner of delivery of vacant possession in Schedule H now is conditional upon the separate strata title being issued by the authority.

Nonetheless, the developer may apply for certification from the controller before delivery of keys to the purchaser in the event that the strata title is not issued yet, provided always that such non-issuance of strata title is not attributable to the developer’s fault;

The previous 14 days deeming provision for the delivery of vacant possession is now 30 days from the date of service of notice which effectively cut the construction period to 35 months.

The amendment in the schedule of payment postpones 5% of the purchase price to be paid to the developer from previously during construction stage to the date of taking vacant possession by the purchaser.

There are also now improved statutory termination and abandonment provisions under the HDAA 2012 that provides for the situation where the purchaser may terminate the sale and purchase agreement when the housing developer ceases or refuses to work for a continuous period of six months. The housing developer on conviction, shall be liable for a fine ranging from RM250,000 to RM500,000, or a maximum three- year imprisonment, or both.

Homeownership is the undisputed agenda of the day. While the Government is still playing catch up in its effort to provide affordable housing, a regulated regime in private housing development is the better way to go now.

The significance of raising the bar will phase out smaller and “fashionable” developers out of the housing development system while ensuring serious players deliver on their promise under a much-regulated regime.

Indirectly, homebuyer protection in Malaysia has now moved up a few notches.

• The views expressed are entirely the writer’s own.

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How public spaces make cities work

 “You can measure the health of a city by the vitality and energy of its streets and public open spaces.”
– William H. Whyte

KUALA LUMPUR is ranked the 16th most liveable city in Asia although we have been given the dubious distinction of having the worst taxi drivers in the world. In asking myself what would enable a city like KL to move up in the rankings, I arrived at the conclusion that one aspect of what makes great cities comes down to the city’s ability to provide its citizens with amazing public spaces that will complement our great architecture.

There is no denying that Kuala Lumpur has its very own amazing green lung – our Lake Garden’s. This legacy from colonial times is really beautiful but remains far away from the working population in the Golden Triangle and the business district.

Unlike Central Park in New York or the many parks in the middle of the city in London, which interact with their business and residential districts, Kuala Lumpur is bereft of any great spaces near to where people actually work. The only public space within the commercial district of Kuala Lumpur is KLCC Park.

The KLCC Park is a public park located in the vicinity of Suria KLCC, Kuala Lumpur. The park has been designed to provide greenery to Petronas Twin Towers and the areas surrounding it.

KLCC Park.

Public spaces should be designedThe park was designed to showcase a heritage of tropical greenery by integrating man’s creation with nature. The park itself contrasts as a calm environment in the midst of the hustle and bustle of the city. The park features many combinations of man-made designs to add plural connotation such as water features and also natural features such as trees, shrubs, stones and wood. Elements of shape and topography were created to give an illusion of space. The combination of trees, shrubs and sculptures were arranged to provide colour and form to the park.

Conservation and bio-diversity was a major influence in the creation of the park. Twenty three of the mature and rarer specimens were saved from the old Selangor Turf Club and transplanted into the park grounds. One thousand nine hundred indigenous trees and 66 species of palms were planted in the park to promote bio-diversity. The trees were deliberately selected to attract local and migratory birds.

However it appears that it was not designed for people and it shows as there is nowhere to sit!

Public spaces should be designed to attract people to them. They should have an incredible attention to detail and be created for the common good of the city. These spaces need not be large but rather frequently interspaced within the concrete jungle where we spend a disproportionate of our lives every day.

As living accommodation in the city shrinks there is an urgent need for its citizens to have places where they can bond with nature. Great public spaces are the living room of a city – where people can come together and enjoy the city and each other. Public spaces make high-quality life in the city possible. They range from grand central plazas to small squares and neighbourhood parks.

Feel of a city and its neighbourhoodsParks are complex elements of a city. They can serve scores of different uses, may be specialised in their function, or can simply provide visual appeal for residents. However they work, they act to define the shape and feel of a city and its neighbourhoods. They also function as a conscious tool for revitalisation.

Central Park New York.

Parks can stem the downturn of a commercial area, support the stabilisation of faltering neighbourhoods, and provide a landmark element and a point of pride for constituents. For all these things to happen, the city needs to be open and aware of parks’ potential to spur revival, and support the elements that are needed to make that happen.

For these reasons, parks need as much thoughtful attention to design, location and surrounding uses as every other constructed element in the city, from housing to retail to commercial to entertainment. When careful attention is given to selective park creation or improvement, it will likely have a great impact.

Parks are good financial investment for communitiesParks provide intrinsic environmental, aesthetic and recreation benefits to our cities. They are also a source of positive economic benefits. They enhance property values, increase municipal revenue, bring in homebuyers and workers, and attract retirees.

At the bottom line, parks are a good financial investment for a community. Understanding the economic impacts of parks can help decision makers better evaluate the creation and maintenance of urban parks.

Wouldn’t it be a wonderful experience if we could wonder out of our offices and enter a park for lunch and read a book or meet with some friends for a chat? Some others may just like to pick up a cup of coffee and do some work in private.

However, we have witnessed the disappearance of our public spaces at an alarming rate in our cities across Malaysia as developers work hard to change the zoning to build new developments on green spaces or playing fields without consultation with the constituents.

Berkeley Square London W1.

The problem is further aggravated by the fact that many public spaces are poorly maintained and are in a terrible state of repair. Local authorities just don’t have a good culture of maintenance or have the required skill sets to ensure that public spaces are kept in a pristine condition. This has to change.

Claiming public spaces is very difficult – losing them is very easy. There is a need for local planners to take a lead and be vigilant champions in the design, creation and maintenance of our public spaces. Every park should be a key element in any city or town and cherished and nurtured for the benefit of their citizens.

It reminds me of the song Big Yellow Taxi by Joni Mitchell in which she sings the following verses:

“They paved paradise 
And put up a parking lot 
With a pink hotel, a boutique 
And a swinging hot spot

Don’t it always seem to go 
That you don’t know what you’ve got 
Till it’s gone 
They paved paradise 
And put up a parking lot

They took all the trees 
Put them in a tree museum 
And they charged the people 
A dollar and a half just to see them 
Don’t it always seem to go 
That you don’t know what you’ve got

Till it’s gone 
They paved paradise 
And put up a parking lot”

>> Datuk Stewart LaBrooy is the Chairman of Malaysian REIT Managers.

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Mitsui joins the Nusajaya Tech Park family

First Japanese partnership for industrial parks in Iskandar Malaysia.

(from left) Ascendas executive director Dacon Pao, Ascendas head portfolio management Phua Min Tze, Mitsui general manager Eiichi Tanabe, NTPSB director William Tay, Mitsui general manager Reiji Fujita, UEM Sunrise COO Raymond Cheah and Mitsui deputy general manager Yoshinaga Takahashi.

TOKYO: Mitsui & Co. Ltd. has entered into a joint venture agreement with Nusajaya Tech Park Sdn Bhd (NTPSB), a company jointly owned by Asia’s leading business space solutions provider, Ascendas, and Malaysia’s leading property developer, UEM Sunrise Berhad, to offer Build-to-Suit (BTS) properties for lease in Nusajaya Tech Park in Iskandar Malaysia.

This joint venture marks the first Japanese partnership for industrial parks in Iskandar Malaysia. Mitsui has an extensive network in Japan and strong know-how in areas such as industrial property development, management and leasing.

Ascendas has an established track record and capabilities in quality business space development and management, while UEM Sunrise is a leading Malaysian developer with in-depth local market knowledge and capabilities. Combining the respective strengths of these three partners, Nusajaya Tech Park will be well-positioned to provide differentiated solutions to Japanese corporations in Iskandar Malaysia, as well as attract a new wave of Japanese investments into the region. The park will also benefit from potential synergies with the Smart City project that Mitsui is undertaking in the Medini District, within Iskandar Malaysia.

Mitsui and NTPSB will hold equity stakes of 49% and 51%, respectively, in the newly formed joint venture entity. Under the agreement, a total land area of 10.7-hectares will be set aside for BTS for lease within the 210-hectare Nusajaya Tech Park, at a projected development value of approximately SGD167mil (RM468mil) over four years.

Understanding that businesses have different requirements for space, be it manufacturing, logistics or hi-tech space, the Mitsui – NTPSB joint venture will provide one-stop solution to companies who prefer to operate in customised facilities on long-term leases, without the hassle and capital expenditure associated with the construction process.

The joint venture will oversee and finance the entire real estate process for customers, from design, construction, project management to property management, thereby allowing companies to focus on their core business while enjoying the benefits of a customised facility provided by a trusted developer with strong credentials.

Designed for a wide range of light to medium industries, Nusajaya Tech Park offers an eco-friendly and world-class business environment, with integrated industrial, commercial spaces, dormitories, amenities and support facilities, all in one location. It is also the first township in Malaysia to be awarded Singapore’s Building and Construction Authority’s Green Mark for Districts – Gold (Provisional) Award.

“Japanese companies are increasingly seeking investment and expansion opportunities in South East Asia as part of their globalisation strategies. Nusajaya Tech Park is a catalytic development in Iskandar Malaysia, located just minutes away from Singapore and well-positioned to serve as a key gateway for Japanese corporations to grow their presence in this region. Our collaboration with two very formidable industry leaders in this market, Ascendas and UEM Sunrise, will cement our position as a preferred partner for Japanese companies seeking growth in this part of the world,” says Mitsui general manager of urban development Reiji Fujita.

“We are privileged to extend our existing strong partnership with Mitsui in Malaysia, in one of Ascendas’ latest and largest industrial park developments in Asia. By leveraging Mitsui’s strong network of clients and partners, we can elevate our marketing efforts for Nusajaya Tech Park, particularly to Japanese companies, and help these companies harness the potential of this fast-growing region. We look forward to working closely with Mitsui to further strengthen our value proposition for other Japanese companies seeking high quality business space in this region,” says Ascendas president and group CEO and NTPSB chairman Manohar Khiatani.

Ascendas South East Asia chief executive and NTPSB director William Tay says, “We welcome Mitsui as a new partner in Nusajaya Tech Park. Through this new joint venture, our customers in Nusajaya Tech Park will not only benefit from solutions that are customised to their business needs, but also enjoy international standards of business space development and operations as a result of the collective strengths of all three partners. We are confident that Nusajaya Tech Park will continue to play an instrumental role in catalysing industrial growth and creating an eco-system of high value-added industry in Iskandar Malaysia.”

“We are pleased that Mitsui is joining the Nusajaya Tech Park family. Mitsui’s involvement offers an added dimension that will propel Gerbang Nusajaya into an industrial and business engine to become the regional transformation hub, through a partnership of international proportions. This is set to bring sustainable long-term growth and strengthen Gerbang Nusajaya as a choice location par excellence for international businesses,” says UEM Sunrise chief operating officer of commercial Raymond Cheah.

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Iconic 5-star Tropicana The Residences at KLCC

Tropicana Corp ups the scale in luxury high-rise living.

BY ANGIE NG
angie@thestar.com.my

Chic and sleek architecture.

KUALA Lumpur is upscaling its status as a liveable city with a number of infrastructure projects that will improve the quality of living environment in the capital city, and proof of its growing popularity as a choiced address is seen in the growing number of property projects being built to cater to the expanding city dwellers and business travellers.

The capital city’s premier address is undoubtedly still Kuala Lumpur City Centre (KLCC) given the premium attached to its proximity to the iconic Petronas Twin Towers, Malaysia’s national landmark, and to the other lifestyle conveniences.

Development projects that bear the KLCC address command a premium over those that are located further away in the other fringe areas of Kuala Lumpur. No wonder a growing list of developers are vying for a piece of the KLCC action that will further change the city’s skyline when more high-rise buildings crop up in the city in the coming years.

Given that there are quite a number of projects coming up around the KLCC area, developers have to put in extra efforts and creativity to ensure their projects have unique selling propositions, outstanding amenities, facade and features to stand out from the rest in the market.

Gourmet Loft.

Undaunted by the competition posed by the other developments that are coming up in the city, Tropicana Corp Bhd is building its most ambitious development, Tropicana The Residences at KLCC (The Residences), on a 1.28-acre plot of freehold land along Jalan Ampang, Kuala Lumpur.

This is one of the most prime locations in Kuala Lumpur at the original Millionaires Row and just two minutes’ walk to the Petronas Twin Towers. To give it an edge in the market, Tropicana’s plan is to build a unique iconic project offering chic and modernist luxury residences that will be the first of its kind in Kuala Lumpur.

Tropicana Corp has engaged the services of international architectural firm, Skidmore, Owings & Merrill, well-known for its feat in designing international landmarks such as Dubai’s Burj Khalifa, the tallest building in the world, and New York’s One World Trade Centre, to up the game for The Residences into another spectacular iconic landmark.

“We are confident the unique concept of our project that is inspired by The W Hotel concept will ensure The Residences stands out from the existing pool of properties in the market,” Tropicana Corp executive director of project Daniel Teh says. Teh points out that the project’s location on one of the last remaining premium freehold parcels in KLCC will up the value and add credence to The Residences prestige as an iconic landmark in the city.

Scheduled to complete in mid-2017, Teh is confident The Residences will be a frontrunner in the development of this fast growing segment of luxury and branded residences in the city centre of Kuala Lumpur.

The Residences will be anchored by the very first W Kuala Lumpur Hotel in a stunning 55-storey tower, designed by Skidmore, Owings & Merrill that is working together with Veritas Architects Sdn Bhd in Kuala Lumpur. The internationally acclaimed and award-winning architect firm brings its expertise on tall buildings to this landmark project by Tropicana Corp.

Top view of Saltwater Sky Pool.

“Alongside its neighbour, the Petronas Twin Towers, the sleek elegant tower of The Residences with its distinctive highly detailed dark aluminium and glass finishing, will form part of the future iconic skyline of Kuala Lumpur,” Teh remarks.

When completed, The Residences will be the highest residential apartments in Kuala Lumpur, soaring higher than the soon-to-be-completed 48-storey St Regis Hotel and Residences at Sentral.

This iconic development will bring to Kuala Lumpur, the daring, witty and stylised culture of the hip W brand which captures the vibe and spirit of New York as a leading centre for music, fashion and urban culture. First launched in New York as a boutique hotel, the W has transformed into a fashion and style leader in the hotel industry and has been especially well-received in Asia where it has transformed into a popular, high energy, future-forward lifestyle brand that syncs well with the frenzied speed and intense energy of Asian cities.

The hotel has full-height double-glazed windows. Both the exterior building envelope and interior partition walls are built to the highest acoustic and thermal performance specifications, as required by the hotel operators.

Teh says The Residences also follows similarly high specifications, adding that it is rare for developers in Kuala Lumpur to provide residential developments with the high acoustic insulation, sound-proofed full-height windows as in The Residences.

Tropicana Corp head of marketing and sales Ung Lay Ting and executive director of project Daniel Teh.

“The high specifications of the curtain wall and resulting high thermal performance of the building envelope also means much better comfort levels within the apartments and lower air-conditoning bills.

“While there are several green-rated lower-rise residential developments, The Residences is one of the first super high-rise apartment towers in KL to enjoy the benefits of a very high level of green certification with its GreenRe Gold rating,” he explains.

Opulent lifestyleTeh says The Residences offers discerning and well-travelled purchasers an opportunity to own a piece of luxury in this hot address of the KLCC. The project’s location on top of the internationally acclaimed W Kuala Lumpur gives the residences a unique five-star branding and living standard. The residents will be in the company of other like-minded hip, funky and happening community who will be able to bask in the luxury of five-star lifestyle.

The Residences that comprises 353 fully furnished service residences will occupy the 25th to 53rd floors of the 55-storey tower block. The hip and upscale W Kuala Lumpur Hotel, a luxury hotel chain owned by Starwood Hotels & Resorts Worldwide, will have 150 rooms on the 8th to 23rd floors. The project will have a gross development value of RM800mil.

Teh says the uniquely designed residences offer four types of swanky layouts with built-up area ranging from 710 sq ft to 2,973 sq ft.

“All the units have cutting-edge designs, yet portray the warmth of local lifestyle and influences that will place them in a league of their own and make them the prized dwellings for our residents,” he says.

“The residences are unique, first of a kind funky luxury for our residents in line with our aim to redefine luxury and create another level of luxury living fit for our well-heeled buyers.

“Owning a residence in this super prime location is a reflection of luxury and prestige. The residents will also benefit from the integrated five-star hotel services,” he says.

Chill Out Deck.

Besides the unique facades and architecture design, the softscapes and amenities are just as opulent – a rooftop facility floor that offers the perfect place to chill out with unobstructed view of Kuala Lumpur’s sprawling and colourful city vista, saltwater infinity pool, a forest-themed lounge, multi-purpose area on the roof known as the Gourmet Loft and a first-of-its-kind aqua gym.

The Residences also come with concierge service where residents will be able to enjoy butler service that will arrange services that ranges from transport to laundry and dry cleaning. Residents will also be able to make bookings for flights, restaurants, spa and salon treatments. Jet-setters and those who are constantly on the move will be happy to have the convenience of optional housekeeping services and an innovative home-care programme, which includes a home monitoring system, personalised renovations and regular cleanliness inspection, at their disposal.

The Residences will be managed by Tropicana Corp, a pioneer in resort-style home concepts with a strong track record in high-end residential and commercial developments.

Teh says being at the forefront of the property industry, Tropicana Corp continues to lead the way in the lifestyle and sustainable development segment.

“The Residences has been categorised as a green building with resource and energy-efficient features in daily operations like powering lifts and other utilities,” he adds.

Teh says The Residences is expected to be a serious contender for expatriates wanting to make a wise investment in Malaysia given the increasing appreciation of capital in this sought-after address.

Forest Lounge.

Tropicana Corp head of marketing and sales Ung Lay Ting says the project was launched on March 21 across six countries – Malaysia, Singapore, Taiwan, China (ChengDu and Shanghai), Indonesia and Hong Kong – at private bars for specially invited guests. Most of the buyers comprise young professionals and business owners from Hong Kong and Singapore.

The main launch of The Residences was held at the chic Marini’s on 57, Malaysia’s highest rooftop bar that is located close to the Petronas Twin Towers that offers panoramic views of the Kuala Lumpur city skyline. For its unique 3D presentation at the launch, The Malaysia Book of Records awarded Tropicana Corp for the Biggest Outdoor HD Projection Mapping Screen in Malaysia.

“The Residences prides itself as the only swanky and arty luxury property in Kuala Lumpur’s Golden Triangle ideal for jet-setters or those constantly on the move. It will be in a class of its own and the first of its kind to provide contemporary luxury living, targeting the rebellious, antipodean buyers.

“The Residences’ overall intention is to be the swankiest place in town. The target audience are the trendsetters – people who are interested in the latest, newest, hippest and coolest. It is a celebration of stylish sophistication, of upscale metropolitan living. To receive more info or for a private tour, we warmly invite you to register with us at our website www.tropicanatheresidences.com,” Ung says.

Ung says Tropicana Corp has another similar development in Penang, Tropicana 218 Macalister that will feature the first Courtyard by Marriott in Malaysia.

“We are definitely looking into exploring other markets to bring the Tropicana experience to more people around the country,” she adds.

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