Symphony Life takes the high road

PETALING JAYA: Symphony Life Bhd, formerly Bolton Bhd, is looking to redirect its attention to developing high-end niche products, executive chairman Tan Sri Azman Yahya tells City&Country.

The property developer's sales of over RM700 million last year was the highest to date, and especially encouraging in a soft market.

“Based on our projections for this year, again a pretty tough market, we reckon [sales will] probably [be] 20% higher than last year,” he says.

Two of the main projects in line with the new direction are TWY in Mont’Kiara and Star Residences on Jalan Yap Kwan Seng, Kuala Lumpur.

TWY means “two” in the Norman language commonly spoken in Normandy, France, and rhymes with “try”. The first project under Azman’s leadership at Symphony Life will offer 484 fully furnished duplex units with a built-up area from 662 sq ft upwards. Prices start at RM730,000, or an average of RM1,000 psf.

Star Residences is the residential component of a mixed-used project called Star Development on a four-acre tract in Jalan Yap Kwan Seng. There will be three towers for residents and a  retail section occupying six floors.

The first tower is already 95% taken up and the second tower will be launched in October. Residential Tower 2 or RT2 comprises 482 units in 58 storeys. They have a built-up area of 707 sq ft and above, and an estimated selling price of RM2,100 psf.

Azman is confident Symphony Line’s development of high-end niche projects will stand the company in good stead in “flat market” conditions.

“But within a flat market, there is still a market. Property will still be a necessity. And, I really feel there will be demand for the right product in the right location,” he says.

To find out more, read the full report in the July 6 issue of City&Country that comes free with The Edge Malaysia business weekly. Subscribe for your personal copy here.