KSL's maiden venture in Klang

KLANG: Johor–based developer KSL Holdings Bhd is set to launch the first homes at its Canary [email protected] Bestari township development in Klang at the end of the month. Canary [email protected] Bestari is a 446-acre (178ha) development with an estimated total gross development value of RM3 billion and is KSL’s maiden venture off its home turf.

The group managed to sell 72 semi-detached linked homes in the first phase of the township during a sales preview on May 12 and 13.

The first phase offers 384 freehold 2-storey semi-detached linked homes and 2-and 3-storey semi-detached homes ranging from 2,800 sq ft to 4,800 sq ft within a gated and guarded enclave. They come in six designs with prices from RM788,000 to RM1.5 million.

“Based on our observation, the majority of our customers [at the preview] are looking to buy for own stay-in. They are experienced property buyers and are above the age of 30,” Khoo Soon Lee Realty Sdn Bhd sales and marketing head Chris Fong told The Edge Financial Daily.

Fong said the majority of buyers are local Klangites who are seeking to live in a well-planned, gated and guarded neighbourhood while the rest of the crowd are upgraders from neighbouring areas such as Subang and Shah Alam.

“We are pleased and encouraged to see that Klang has such a healthy property market. The units were so well-received during the preview that we had to open up more units for registration,” project director Patrick Khoo said earlier in a statement.

KSL sold 72 semi-detached linked homes in the first phase of Canary [email protected] Bandar Bestari during a sales preview on May 12 and 13.

Residents of the township will enjoy a 52-acre French-inspired garden and running along the 2km park is Blackwater River, formerly known as Sungai Sijangkang. They will be provided with a 24-hour, multi-tiered security system that includes a central guardhouse, patrolling guards, CCTVs and an advanced fibre optic fence detection system with an intercom and panic button mechanism.

The township is accessible via the Kesas Highway and the South Klang Valley Expressway, and is located close to the upcoming Klang-Banting coastal highway. The self-contained development will have a host of amenities with an upcoming mall, KSL City 2; a club house and a hospital. The developer is in talks to secure a college with a foreign twinning programme in the neighbourhood.

Upon completion in eight to 10 years, the township will house a total of 18,300 residential and commercial properties.

KSL acquired the former oil palm plantation land for Canary [email protected] Bes-tari in 2009 from Prospell Enterprise Sdn Bhd for RM156.5 million, translating into around RM8 psf. Prices have since risen substantially to RM50 psf.

Fong: The majority of buyers are local Klangites.

Fong said KSL is set to unveil some shophouses in the township by 3Q12. It is also planning the launch of a low-rise condominium in Kuala Lumpur at the end of the year.

KSL has been listed on Bursa Malaysia since February 2002. It has about 2,000 acres of landbank with 1,500 acres spread across Johor and 500 acres in the Klang Valley.

Among its housing projects in Johor Baru are Taman Nusa Bestari 2, Taman Nusa Bestari, Taman Bestari Indah and Taman Kempas Indah.

This article appeared on the Property page, The Edge Financial Daily, June 15, 2012.

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