CONQUAS is a construction quality rating system developed by Singapore's Building and Construction Authority (BCA). Vibe tower achieved a CONQUAS score of 82.2, the highest score ever achieved by a high-rise residential project in Malaysia.
The presentation of the bonuses, and a celebration of the Vibe Tower completion and CONQUAS achievement took place at the BKP Gallery in Mont'Kiara on Thursday, Jan 13. The event was officiated by Housing and Local Government Minister Datuk Wira Chor Chee Heung.
"It is commendable to see developers like BKP adopt CONQUAS in their projects even though it is not a requirement in the Malaysian property industry," Chor said.
Verve Suites comprises four towers — Viva, Vibe, Vogue and Vox — with a total gross development value (GDV) of RM592 million. Altogether there will be 933 fully-furnished serviced apartments. At present, Viva and Vibe have been fully sold; Vogue is 95% taken up while Vox is 80% sold. Completion is expected in 2014.
BKP group managing director NK Tong said meeting customers' needs is the developer's top priority.
"It is our commitment at BKP to continue to help our homeowners enhance their lifestyles and protect their investments," Tong said.
BKP is looking forward to launch two new projects along Jalan Tun Razak and Persiaran Madge in Kuala Lumpur city in the near future. The Jalan Tun Razak project, on a site that's almost one acre, will feature 220 fully-furnished suites. The indicative pricing for the 800 to 1,500 sq ft units is from RM1.2 million or RM1,500 psf.
The Persiaran Madge project called Ambangan, will comprise 19 residences in a five-storey block with built-up areas of 3,500 to 6,500 sq ft. Prices start from RM3.8 million or about RM1,100 psf.
Meanwhile, Chor advised the public to check a developer's background before buying into property schemes.
"I recently received complaints of errant developers who have not registered with the ministry but have quietly marketed their projects," Chor said. "After receiving the buyers' 10% (downpayment), the developer is now stuck because they don't have the approvals to start construction." This, he says, could lead to further hardship for homebuyers who might end up with an abandoned project and having to service a loan.
Chor said it is essential for the potential homebuyer to check if the developer has a developers' licence and advertising licence before putting down any money.
Abandoned projects in the country have dropped to about 50 from 151 in 2010 when he took over the ministry. "There is an ongoing effort to revive abandoned projects," Chor said.
"We may add a 'criminal element' in the Housing Development Act and the amendment to the Act will be tabled in parliament in June," he added.
Chor also urged developers to build affordable housing where they can, including on the fringes of the city.
Tong, in his capacity as Rehda WP (KL) branch chairman, stated that the main challenge is finding affordable land for affordable housing as prices and other development costs have gone up.
"The government can help by making land available and affordable," Tong said.
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