Lake Fields final phase sold out in one day

KUALA LUMPUR (April 17): The final phase of YTL Land & Development Bhd's (YTL Land) Lake Fields development in Sungai Besi was fully taken up within the day.

The fourth and final phase of YTL Land's lakeside gated-and-guarded township — dubbed Reed — was sold out via a balloting exercise held at the JW Marriot Kuala Lumpur on April 8.

Reed comprised 285 units of 3-storey terraced homes on 29.9 acres of leasehold land with a gross development value (GDV) of RM350 million. Unit land sizes are 24ft by 80ft with built-up areas of 3,216 sq ft and 3,502 sq ft. Prices are between RM969,000 and RM1.7 million.

The units come with a 10ft garden, 4+1 bedrooms with ensuite bathrooms, and a master suite that comes with an outdoor sky terrace. Facilities include a three acre central park, children's play area and footpaths.

The ballot draw began at 10am, and was attended by over 1,000 people. The ballots were drawn in groups of 30 — and by 3pm, all units were snapped up by successful buyers.

Reed comprises 285 units of 3-storey terraced homes on 29.9 acres of leasehold land with a gross development value (GDV) of RM350 million.

YTL Land executive director Datuk Yeoh Seok Kian said the decision to conduct the ballot was prompted by the overwhelming response to a registration exercise.

"Judging by our buyers' response, the balloting was a welcome move, as it offered everyone an equal opportunity of owning a lakefront home in our Lake Fields development," he said.

Yeoh mentioned that the positive response to Reed was in appreciation of YTL Land's track record of delivering homes with high capital appreciation. Prior to this, Grove — Lake Fields' lakeside semi-detached homes with a starting price of RM1.8 million which was launched in June last year — was sold out by the second day of its preview.

Grove comprised 102 units of 3-storey semi-detached homes that sat on 14.98 acres of leasehold land and commanded a GDV of RM200 million. The units came in two built-up sizes of 4,300 sq ft and 5,900 sq ft. The units come with a sky garden and lifts while the master suite features either a private terrace or outdoor shower.

Earlier phases Meadows and Glades have seen an appreciation of more than 100% since they were launched in 2005, said Yeoh. Lake Fields is the developer's fourth residential development in the Klang Valley. The 175 acre development was launched in 2005, following YTL Land's success with Lake Edge in Puchong.

YTL Land undertakes YTL Corporation Bhd's residential property development activities. The group's property arm is listed on the main board of Bursa Malaysia, and has a market capitalisation of RM862 million, with a land bank of more than 2,000 acres in Malaysia. Among its projects include Pantai Hillpark in Kuala Lumpur and Pangkor Laut Resort in Pulau Pangkor, Lumut.