KUALA LUMPUR (Sept 20): Singapore Exchange mainboard-listed property developer GSH Corp Ltd (GSH) has officially launched its Eaton Residences — a 52-storey luxury condominium with a gross development value (GDV) of RM1.1 billion located at Jalan Kia Peng, Kuala Lumpur. The project will sit on a leasehold 1.42-acre site, GSH group CEO Gilbert Ee told reporters at the launch today.
With a total of 632 units of one-to-four-bedroom apartments and penthouses, the first phase of the project has been launched in May involving some 200 units via GSH wholly-owned subsidiary City View Ventures Sdn Bhd, said GSH general manager of sales & marketing Christopher Khoo.
"Going forward, we are going to launch another two phases," he said, adding that the whole development is expected to be completed in 2020.
As of today, about 150 units have been booked through VIP previews and private viewings.
GSH executive chairman Datuk Sam Goi said Eaton Residences is the company's first residential project in Malaysia. "The launch of Eaton Residences marks another significant milestone for us, we are very thankful to the project's main financier, RHB Bhd."
The built-up of the Eaton Residences’ typical units range from 635 sq ft to 2,874 sq ft while the penthouses range from 2,271 sq ft to 2,982 sq ft.
Prices of the units are from RM1,137,445 for a one-bedroom unit, to RM2,648,250 for a 3-bedroom property.
Facilities include a jogging path, fitness stations, steam room and infinity edge lap pool. It also offers unblocked panoramic views of the Petronas Twin Towers and the Royal Selangor Golf Club, Ee said.
It is also within walking distance to the Twin Towers mass rapid transit (MRT) station of the upcoming MRT Line 2.
Acknowledging the current challenging environment of the Malaysia property market, Ee said GSH has to embed Eaton Residences with value-added offerings and the cost of development took up more than 70% of its GDV.