Macly Group and Roxy-Pacific Kuala Lumpur

PETALING JAYA (Aug 8): For Singapore developers Macly Group and Roxy-Pacific Holdings Ltd, setting foot in Kuala Lumpur’s competitive high-rise market is not without challenges, especially with the soft high-rise market of late. However, they believe they offer a product that will appeal to locals and foreign buyers alike.

The Colony, a high-rise development with residential and retail components, is situated next to Quill City Mall -- a short distance from Jalan Bukit Bintang. It will sit on 1.4 freehold acres and will consist of two towers with a total of 723 dual-key small office/home office units.

Macly’s managing director Herman Chang and Roxy-Pacific executive chairman Teo Hong Lim believe this project will sit well with buyers who want their per sq ft to work harder for them. As every unit is dual key in nature, it provides options for the buyer on how to use the space.

Chang explains that a homeowner can stay in one side of the unit, while renting out the other for passive income. Or the space can be used as an office.

The Colony, according to Chang, is the brand name of the project, which is used for marketing purposes. But the actual name of the structure being built is called Wisma Infinitum. The gross development value of the project is RM800 million.

The units will be spread across two towers. Tower A is 35 storeys with 423 units, while Tower B will have 43-storeys with 300 units. The built-up of the units will range from 675 sq ft to 1,180 sq ft. Some of the facilities include a swimming pool that looks out toward the Twin Towers, barbeque outdoor dining area, residents’ lounge and gym.

Tower A will be launched first in September, while Tower B will be launched at a date to be revealed later. The target market are investors and young working adults in their 30s who do not have a family yet and likes living in the city.

The Tower A units range from 705 sq ft to 1,155 sq ft, with a majority of them in the 705 sq ft and 945 sq ft range. The average selling price is RM1,380 psf.

As this this their first project in KL, they are making sure they provide more value to buyers with competitive pricing. Besides pricing, they believe they have been able to differentiate themselves adequately enough to stand out from the competition, especially with reports that more small sized apartment units are coming on stream soon.

To find out more about this story, be sure to read the full report in the Aug 10 edition of Property, the real estate section of Digital Edge Weekly that is available via email pdf, IOS/Android smartphone, tablet and desktop. Subscribe here.

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