Crest Worldwide Resources Sdn Bhd teams up with bank to promote Crest Sultan Ismail

KUALA LUMPUR: Crest Worldwide Resources Sdn Bhd entered into a strategic partnership with Asian Finance Bank Bhd (AFB) on Dec 15 to promote Crest Sultan Ismail.
This partnership between the project developer and the bank will see AFB acting as the global marketing  representative for Crest Worldwide, promoting the mixed development 
project, said AFB chief executive officer (CEO) Datuk Mohamed Azahari Kamil in his speech before the signing ceremony between the bank and Crest Worldwide Resources Sdn Bhd.

AFB will conduct a road show to promote the project – comprising a residential tower and a grade ‘A’ office tower – in Qatar, Doha, Jakarta  and South Korea slated to begin next January, he told a press conference after the signing ceremony.

“There is a lot of liquidity in the Middle East which we hope to tap into and bring to Malaysia, especially its property sector,” he said.

The bank will promote the remaining 92 reserved luxury residential units and the office units, he added.

Furthermore, AFB has also been appointed the global property distribution agent as well as the arranger and principal advisor of the en-bloc sale for the office tower, said Mohamed Azahari.

The luxury residential units will feature a financing plan to entice Malaysian citizens and residents, featuring down payment set at 2% and other details, said SKN Land & Development Sdn Bhd marketing and sales head Joy Nandy.

Crest Worldwide Resources is a member company of SKN Land & Development.

There will be a total of 288 units in the premium residential tower, which is 60% completed, according to the company.
Crest Sultan Ismail was launched in 2007 with a gross development value (GDV) of RM500 million. It has a 99-year leasehold tenure.

The residential tower stands at 44 stories, 18 stories taller than the office tower, which will contain 75 units.

So far, 70% of the residential units have been snapped up, according to the company. The project is sed to be completed in 2011.

The company has proclaimed the mixed project as unique, given its location in the heart of Kuala Lumpur, close to the Kuala Lumpur City Centre (KLCC) area and various other amenities.

Meanwhile, SKN Land & Development has other projects in the pipeline, said its chairman Mohd Rosly Hussein at the press conference.

According to him, the company aims to build a mixed development in Desa Pandan and a 27-storey residential project in Jalan Yap Kwan Seng.

The company is currently in talks with Dewan Bandaraya Kuala Lumpur (DBKL) about the plot ratio of the Desa Pandan project, he added.