Agile Mont’Kiara opens for registration

KUALA LUMPUR (Sept 4): China developer Agile Property Holdings Ltd’s joint venture (JV) project with PJ Development Holdings Bhd (PJD), Agile Mont’Kiara, opened for registration of interest yesterday. The development in Mont’Kiara, Kuala Lumpur, will be launched in October.

Agile Mont’Kiara is Agile Property’s first overseas project and it holds a 70% stake, while land owner PJD owns the remaining 30%.

The residential project will be developed by Agile Real Estate (M) Sdn Bhd, which is the local subsidiary of Agile Property Holdings.

“The choice to build in Malaysia clearly underlines the excitement that we feel for the property market here as well as our confidence in the country’s stable and growing economy.

“For us, Kuala Lumpur is a very obvious destination as the city is relatively developed in terms of its property market and has steady growing demand for residential property,” said Agile Real Estate CEO Wilson Ren after the ground breaking ceremony at Agile Property Sales Gallery Mont’Kiara yesterday.

Agile Mont’Kiara sits on 10.16 acres of freehold land and has a gross development value of RM1.4 billion.

The project will comprise five blocks of seven-storey, low-density residential units, two blocks of 17-storey medium-rise residential units, and four blocks of 43-storey high-rise residential units.

Agile Mont’Kiara will offer 813 partly furnished units of 3-bedroom, 3+1 bedroom (dual key) and 4-bedroom units of between 1,162 sq ft and 5,037 sq ft. Selling prices start at RM900 psf.

All units will come with air-conditioning, water heater, kitchen cabinets and built-in wardrobe.

Earthworks have commenced for the project, which is scheduled for completion in September 2018.

Agile Property also has another development in KL — a JV with Tropicana Corp Bhd — to develop a 3.7-acre land parcel in Bukit Bintang for an integrated development. The project has a GDV of RM2.5 billion.

Tropicana Corp had sold the land in May for RM448.4 million to Agile Property. The developers hope to launch the Bukit Bintang development in September next year.

This article first appeared in property+, a section of the digitaledge DAILY, on Sept 4, 2015. Download property+ for free here.