Eupe plans November launch for South Bangsar condos

KEDAH-based developer Eupe Corp Bhd plans to launch the first tower of its South Bangsar high-rise residential development, Novum, by early next month. The project is jointly developed by Eupe and Bangsar South Developments Sdn Bhd via their vehicle Eupe Bangsar South Development (JV) Sdn Bhd.

Eupe group managing director and CEO Datuk Beh Huck Lee says the developer expects to obtain an advertising and developer’s licence by the end of this month, paving the way for the launch in early November. However, the sales gallery with show units is already open, he tells City & Country.

Novum, formerly known as Resonance, will come up on a three-acre freehold parcel along the Federal Highway. It will comprise three towers of 37 to 41 storeys, featuring 729 condos with built-ups of 647 to 1,445 sq ft. These include dual-key units.

Prices average RM880 psf, which would bring the gross development value (GDV) of the project to RM550 million.

The other two towers will be launched no later than seven months after the launch of the first, Huck Lee says.

In comparison, theedgeproperty.com data shows the average value of high-rise homes in South Bangsar in the first quarter of the year was RM785 psf or RM1.1 million, based on four transactions.

It is worth noting that in 4Q2014, the average price was RM895 psf, but the average price per unit was RM737,000. Nonetheless, since 2012, prices have been on an upward trend.

Average asking monthly rent was RM4,764, or RM3.61 psf, translating into an indicative rental yield of 5.3%, based on 589 listings.

Novum will have notable facilities such as a “celebrity kitchen” with quality appliances and furnishings, business lounge with high-speed internet broadband connection, pool, children’s playground, gym, multi-purpose hall and garden terraces.

So far, about 3,000 people have registered their interest in the project, says sales and marketing manager Eric Choong.

Making building management virtual

Eupe is taking an extra step to distinguish its maiden Klang Valley project from other developments. It will introduce an app called New Digital Life, which will facilitate dealings between residents and the building management, and make life more convenient for the residents, says Huck Lee.

“We want the management of the building to function efficiently. That is why we are setting up the app and doing the groundwork for the management,” he adds.

The app will be free for Novum residents. In fact, he believes that it will cut down maintenance costs in the long run as it will enable the management to provide services more efficiently.

The app is being developed by Teccalibre Sdn Bhd and is expected to be ready when the project is launched. According to its project manager, Beh Ching Yen, it will be compatible with both Android and iOS.

It will be part online concierge, part virtual building manager. It will enable residents to book Novum’s facilities and pay their utility bills. It will also allow them to track their electricity and water usage, says head of marketing and sales Datin Michelle Gan.

“You don’t need to be physically there (at the management office) to pay the bills and make bookings for facilities and so forth. It will be more convenient,” she says.

Ching Yen says the app will also allow tenants to send reports to the management about any repairs needed for their units via digital photographs, videos or voice messages.

The same will go for housekeeping — tenants can alert the management to the areas they would like the cleaners to attend to.

The app, according to Huck Lee, will be configured to cater for their target market — investors, residents and tenants who require special services, such as those who work long hours.

A notable feature will be the delivery of parcels, specifically goods bought online such as groceries from supermarkets, says Ching Yen.

“One of the major problems is once you shop online, who is going to receive your groceries if you are not at home?

“So, what we plan to do is for the supermarkets to send the groceries to the maintenance or security office where the purchasers can pick them up instead of having the deliveries at fixed times,” she explains.

In fact, Eupe is exploring a tie-up with a grocer. However, it did not name the potential partner.

Huck Lee says one of the solutions to the delivery problem is to create a tracking system for the parcels by assigning codes.

“If a hypermarket were to deliver [the groceries], it would be stopped at the security booth. And if many people have things delivered at the same time, their items may be chucked aside and they would need to look for them. Therefore, we want to fine-tune the delivery system. We can create tracking numbers that they can give to the guard for him to attach to their purchases,” he says.

Apart from these functions, the app will have a directory of facilities, shops and food and beverage outlets in the area.

Other launches

Gan says for now, Eupe is focusing on Novum.

Its next project will be in Cheras — The Weave — which will feature three 40-storey towers comprising 361 apartments with built-ups of 953 to 3,702 sq ft. The units are indicatively priced at RM750 psf. Eupe expects to launch the RM300 million project early next year, just after Chinese New Year.

The group also has plans to develop a high-rise residential project in Seputeh on a 3.2-acre leasehold parcel it bought for RM46 million last year. It hopes to launch the development “in a year’s time”.

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This article first appeared in City & Country, a pullout of The Edge Malaysia Weekly, on Oct 26, 2015. Subscribe here for your personal copy.