Seventy percent of Zenith Residences sold

KUALA LUMPUR: Since its soft launch two months ago, Zenith Residences condominium in Kelana Jaya has achieved a 70% take-up rate.

“Our 2-bedroom units (710sq ft) are fully sold and what we have left are the 3-bedrooms units of 1,173 sq ft and 990sq ft facing the highway,” said Sandy Low, sales manager of Zenith's developer SMI Cityhome Sdn Bhd (SMI) during a press conference on Wednesday, Oct 13. 

SMI Cityhome is a wholly owned subsidiary of South Malaysia Industries Bhd.

Zenith Residences offers a total of 358 units sized between 710 sq ft and 1,227 sq ft, and are priced from RM292,480. The development comes with full facilities including a lap pool, gymnasium, children's play area and fun pool, jacuzzi, and a multi-purpose hall.

“We hope to sell off the remaining 30% by end of the year as our official launch will be on October 23,” said Low.

Zenith Residences is part of the 9.6-acre Zenith Corporate Park that comprises seven blocks of 3- and 4-storey shop offices, two blocks of 21-storey condominiums and one 13-storey corporate tower.

According to Low, the total gross development value (GDV) of shop offices (Phase 1) and Zenith Residences (Phase 2) are about RM270 million. Phase 1 was launched in July 2007 and was fully sold within a month, while construction of the condominium is expected to be completed in 2012.

“As for the corporate tower, it was originally intended to be sold en bloc but we are now looking at selling it as strata units. We have not finalised the design yet,” said Low.

SMI owns 67 acres of land in Kelana Jaya with a total GDV of RM973 million.

Its property projects in Kelana Jaya began in 1991 with Kelana Indah, which consisted of 127 units of linked houses, followed by four condominium projects, namely Kelana Puteri, Kelana D’Putra, Kelana Mahkota and Sterling@PJ. Its two commercial developments are Kelana Square and Zenith Corporate Park.

“Zenith will be the last of our developments in Kelana Jaya. At present, we do not have anymore landbank but we are actively looking into acquiring a few tracts of land in Klang Valley,” said Low.