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BCB gets good response to condo project

KUALA LUMPUR: The second phase of BCB Bhd's Concerto North Kiara condominium project, which was launched on Dec 1, has already attracted some RM52.3 million in sales.

Phase 2 of the condominium development, situated north of the main Mont'Kiara area which borders Segambut in Kuala Lumpur, offers 162 units housed in two blocks called Ballade and Carol, each with 81 units.

Concerto North Kiara has an overall gross development value of RM520million and offers a total of 440 units. It is the Johor-based BCB's maiden property venture in the Klang Valley.

Phase 1, which was launched on July 7, featured two blocks named Adagio and Etude.  They also featured a total 162 3-bedroom units with built-ups starting from 1,500 sq ft and prices from RM1.1 million. All the units have since been sold.

"Concerto North Kiara has been very well received by our purchasers and has also been receiving good comments from property investors, real estate agents and visitors in general," said project general manager Sean Tan. "Our pricing is below RM700 psf. For such exclusive condominiums which emphasise privacy and security, they are definitely a good buy."

The 3+1 bedroom units in Phase 2 will have built-ups from 1,590 to 1,818 sq ft and are priced from RM1.1 million onwards. Each unit comes with a private lobby measuring 120 to 156 sq ft that belongs to the purchaser.

Concerto's unique selling point is its same floor drainage system that prevents water leakages from affecting the units below. When completed in 2015, Concerto will feature five blocks.

On the outlook in the coming months, Tan acknowledged that the economic climate is still uncertain but he is positive 2013 will see better growth in Malaysia and the region. US President Barack Obama and Chinese Premier Wen Jiabao's pending visits to this region show that opportunities abound in Malaysia, said Tan.

"Our Ministry of Tourism will also be embarking on an MM2H (Malaysia My Second Home) programme roadshow to China's major cities to attract investors to come to Malaysia to stay and do business… I foresee a good market for our Concerto North Kiara units for Phase 2 and Phase 3 next year," he said.

BCB's next yet-to-be-launched project is in Kota Kemuning, Shah Alam, where 513 bungalows and 49 shophouses will be developed. The RM1.8 billion project will offer  bungalows priced from RM2 million. The built-ups will be between 4,500 and 6,000 sq ft, with land area sizes from 6,000 sq ft.

BCB's main development activity is centred in Johor, particularly in Batu Pahat and Kluang. Besides residential projects, such as Taman Bukit Perdana, Evergreen Heights and Bandar Putra Indah, the company is also the developer of BCB Plaza in Kluang and U-Mall in Skudai, as well as a hotel, Prime City Hotel, in Kluang.

This story first appeared in The Edge Financial Daily edition of Dec 21, 2012.

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