St John Woods garners warm response

KUALA LUMPUR: St John Woods Residence, an upcoming luxury condominium development in Kuala Lumpur’s Golden Triangle, is receiving good response as 22 out of its 48 units have been reserved by interested buyers since its preview launch on July 16.

“The response has been very encouraging as we exceeded our sales target. We expected about 30% or 15 units to be booked, but we achieved 22 units in just two days,” said Simon Low, executive director and senior project director of the project’s developer AM-EL Group Sdn Bhd.

The invitation only preview launch held last weekend  saw a turnout of 80 people. “We want to offer a quality product for the price quoted,” Low said. Prices start from RM900 per sq ft with unit prices ranging from RM3.3 million to RM4.4 million.

“Those who booked the units are in their 40s to 50s and there was one buyer in his 70s. Some wanted to move from their landed homes for security reasons,” Low told The Edge Financial Daily.

“They were mostly locals and a few foreigners, including two from Singapore and one from Australia. These are high-net worth individuals who cared more about the product, such as its management and finishing, and worried less about the financing,” he added.

Located on a 0.42ha leasehold site in Persiaran Raja Chulan, St John Woods neighbours the Bukit Nanas Recreational Forest, the only remaining virgin rainforest in Kuala Lumpur. With a central location in KL city, it is also only minutes away from KLCC and Pavilion KL.

Low said St John Woods stands out as it is currently the only development in the area offering large family-sized units. Sizes for its 3+1 bedroom units are from 3,660 sq ft and 4,489 sq ft for its 4+1 bedroom units.

The project has a gross development value (GDV) of RM180 million and is expected to be completed by June 2014. Its 48 units will be in two 33-storey towers with one unit per floor starting from the eighth floor to ensure that each home captures the views of KLCC and the forest reserve. There will be eight parking levels with a total of 172 bays, including 20 for visitors.

There will be also be private lift lobbies for each home while facilities include concierge services, a chauffeur’s lounge, a gym, Pilates/yoga room, saunas, multipurpose room, barbeque area, general storeroom and an infinity pool. Units will have a maintenance fee of about 45 sen psf.

Established in 1982, AM-EL Group’s core businesses are property development, construction and property management, spanning across Peninsular Malaysia. It has developed and sold 10 residential and three commercial projects such as Dataran Merdeka and Merc Residence in KL, Dataran Pahlawan in Melaka, and mixed residential development Crystal Prestige in Penang. These developments are worth more than RM600 million.

This article appeared on the Property page, The Edge Financial Daily, July 22, 2011.

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