BUKIT JALIL: JRK Group will be unveiling the company’s second project JRK Convena in Bukit Jalil, Kuala Lumpur on Saturday (Jan 9, 2021), said the executive chairman Datuk Sri Jerry Kwan.
In an exclusive interview with EdgeProp.my, Kwan revealed that the freehold low-density development, which carries a gross development value (GDV) of RM180 million, has seen 70% of the units taken up since the project opened for registration in September last year.
Spread across 1.6 acres of land at Taman Muhibbah, the 35-storey JRK Convena offers 332 units of serviced apartments with built-up choices ranging from 735 sq ft to 1,050 sq ft. The selling price starts from RM452,000.
The development comes with a wide range of facilities including a recreational park, sky terrace, outdoor gym, yoga deck and games room. The maintenance charges are around RM0.28 psf.
Slated for completion by the end of 2024, JRK Convena is connected to the Muhibbah Light Rail Transit station within a 250m walking distance via a covered walkway.
“As for nearby public amenities, there is an array of retail and shopping malls including Pavilion Bukit Jalil and SetiaWalk Mall, recreations parks such as the Bukit Jalil Recreational Park and the Bukit Jalil Golf and Country Club, all within a distance of 10km,” added Kwan.
On the name JRK Convena, Kwan said it is the merging of the words “convene” and “convenient”, adding that the project is targeted at young families, working adults and upgraders.
The company is eyeing at achieving 85% sales by the second quarter of this year.
“I have worked for many years as a builder and in construction site supervision since I graduated in the year 2000 and I understand that for homebuyers, property is one of the biggest purchases in their lifetimes. Thus, it is important for me to give them a product with good quality because all their hard-earned money is being invested in the home.
“To us, sacrificing our margin by a bit is okay. Our principle is always to give our customers a home with great value, yet not sacrificing on quality,” said Kwan when introducing the company.
JRK Group launched its first residential development JRK Senesta in Semenyih, Selangor in 2020. Established in 2014, the Klang Valley-based developer has extensive experience in piling works, substructure, high-rise building and infrastructure works.
Commenting on the market outlook, Kwan believes that products with competitive pricing and good quality will attract buyers.
“It is about launching the correct product at the right location at the right time. For us at JRK Group, we do not aim to just build homes and wash our hands thereafter. We want to build our branding and we want to be in the market for a long time, thus we will always give our very best in all the products we build,” Kwan stressed.
However, Kwan noted that with the Covid-19 outbreak, one of the challenges faced by developers is to help their purchasers secure end-financing during this period.
“Nevertheless, we are confident this will have minimal impact on our project as the absolute loan amount will be relatively small,” Kwan pointed out, adding that the company is targeting to go public listing by 2024.
Upcoming projects from the JRK Group include JRK Delta @ PJ South (GDV of RM155 million) — a commercial hub with 58 units of retail lots, JRK Celestia @ Puchong (GDV of RM100 million) — a proposed condominium block with 130 units and seven blocks of strata villas totalling 60 units called JRK Elysia @ KL Damansara (GDV of RM180 million).
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