KUALA LUMPUR (Oct 31): Eastern & Oriental Bhd’s (E&O) newly-completed upmarket residential project, The Mews Serviced Residence at Jalan Yap Kwan Seng, is more than 75% sold despite the prevailing weak sentiment in the property market.
Located in KLCC, The Mews comprises two towers of 38 storeys each and is jointly developed by E&O and Mitsui Fudosan Co Ltd, Japan’s largest property developer.
The project has a GDV of RM469 million, and offers 256 units with five built-up sizes ranging from 925 sq ft to 2,615 sq ft, and configurations of 1- and 2-bedroom types as well as penthouses, boasting generously-sized master bedrooms with en-suite bathrooms.
The sixth floor of The Mews contains lifestyle facilities alongside an exclusive water sanctuary, while the 37th floor deck offers 180 degree views of the KL skyline amid an open lawn and private manicured garden.
The units are selling at an average price psf of RM1,800. The Mews was launched in early 2014.
The project is completed and the developers have been handing over the units since September.
“E&O’s first development partnership with Mitsui Fudosan has come to fruition with the successful delivery of The Mews,” said E&O managing director Kok Tuck Cheong in a media conference on the completion of The Mews today.
“We have less than 25% of the units unsold. Buyers are predominately foreigners. But we do have a good spread of 25% to 30% local buyers as well,” he said.
Mitsui Fudosan (Asia) Malaysia Sdn Bhd managing director Takehito Fukui said The Mews has set a new benchmark for high-end residences in the KLCC area.
“The completion of The Mews also demonstrates that both E&O and Mitsui Fudosan share the same philosophy of developing high-quality luxury residences,” said Fukui.
On future developments, Kok said E&O has on-going partnership projects with Mitsui Fudosan.
“One of the projects [with Mitsui Fudosan] is located behind Prince Court Medical Centre in KL. The design [of the project] is still being finalised, but it is going to be another iconic project. We aim to launch it sometime at the end of next year,” Kok shared.