KUALA LUMPUR: About 70% of the first residential tower of 8 Conlay, comprising 564 serviced apartment units, has been booked, said KSK Land Bhd managing director Joanne Kua on Wednesday.
Moreover, 80% of those who booked the units are Malaysians, she said during the launch of the project’s sales gallery.
“I believe that the local market, as with the rest of the world, is developing a more discerning taste where residences are concerned. I think a lot of people are too quick to judge the Malaysian market – more customers are focusing on quality of life,” she said.
8 Conlay comprises two residential towers called YOO8 and a hotel, all three of which will be serviced by Kempinski Hotels. Its target market is high-net-worth individuals and young professionals.
“We have been encouraged by the positive response received for YOO8 serviced by Kempinski, both locally and from abroad,” said Kua.
The units in Tower A have a built-up area of between 700 and 1,308 sq ft and are priced at an average RM3,200 per square foot (psf).
The interior design of the 62-storey Tower A is by Hong Kong designer Steve Leung and the design collective YOO. The buildings are the work of RSP Architects, headed by Hud Bakar, while landscaping is being undertaken by Bangkok-based TROP.
Kua touts 8 Conlay as “a one-of-a-kind development that redefines urban living through three main elements: liveable architecture, world-class design and bespoke personalised services”.
KSK Land aims to launch the second YOO8 residential tower of 468 units in the first half of next year. Kua predicts that half of the buyers of these residences will be Malaysians.
Residents will enjoy concierge, laundry, housekeeping, valet, doorman, porter and a la carte services, as well as 24-hour security.
They will also have access to facilities that include private decks, gardens, a jogging track, swimming pools with pod-like cabanas in the water, private gym, resting nooks at two sky bridges between both residential towers on the 26th and 44th floors, and a rooftop sky lounge and bar.
In addition to the YOO8 residential towers, 8 Conlay will comprise the hotel (approximately 260 rooms), and a nine-storey podium consisting of a four-storey retail space, a five-storey car park and a banquet hall.
8 Conlay will be built on a 3.95-acre site and has an estimated gross development value of RM5.4 billion. The project is scheduled for completion in 2020.
“The demand for branded residences in Malaysia greatly outweighs the supply,” said YOO chairman and co-founder John Hitchcox. He added that the push for decentralisation from Kuala Lumpur was slowing down as more people move back into the city as a result of urbanisation.
Kempinski Hotels CEO Alejandro Bernabé said the hotel group is looking forward to a fruitful partnership with KSK Land and expressed optimism on the prospects for “Southeast Asia in general, and in Malaysia and Kuala Lumpur in particular”.
This story was updated on Nov 20 with the version published in an edition of The Edge Property pullout of the same date. The Edge Property pullout appears every Friday with The Edge Financial Daily. Tap here to download your personal copy for free.