The Wharf Residence Tower 18 sees 75% take-up

KUALA LUMPUR (April 27): Bolton Bhd recently launched the second tower of The Wharf Residence, selling the units for 7.9% more than the launch prices of units in the first tower.

Launched on the weekend of April 14, The Wharf Residence Tower 18 saw 75% of its 334 units sold.

The Wharf Residence serviced apartments comprises three towers on a 15-acre (6ha) 3-in-1 lifestyle integrated commercial development called The Wharf.

The Wharf is situated within the 345-acre leasehold Taman Tasik Prima in Puchong. The Wharf also offers boutique showroom offices and a retail mall.

"The Wharf Residence is an excellent choice for homebuyers who enjoy the integrated convenience of a retail mall," said executive director Datuk Azman Yahya. "Units at Tower 18 have an advantage as all the units will enjoy great views of the lake."

About 1,000 interested parties turned up at the launch.

The RM400 million The Wharf Residence will have 1,002 units with 334 units in each tower. The built-ups range from 795 to 1,173 sq ft and come in two design types, 2-bedroom and 3+1 bedroom. The average selling price of Tower 18 is RM410 per sq ft (psf), which translates to a 7.9% increase against prices of the first block, Tower 8, that was launched in November 2011 with an average selling price of RM380 psf, the developer said.

"For The Wharf Residence, we have conducted thorough market research of what consumers today want to see in apartment living — functional living spaces and integrated convenience," Azman said.

"As a result, we are pleased to announce that our first block, Tower 8, sold out within five months of the launch. The favourable take-up rate is due to our track record in creating value and capital appreciation for our purchasers."

Although 2012 is predicted to be a tough year for the overall economy, Azman is confident that the local property market will not be greatly affected.

"Malaysia is fortunate to be sheltered from the current eurozone crisis while the US economy is said to be improving," said Azman. "The first quarter has been a good one for Bolton as our products in Taman Tasik Prima Puchong have been selling well."

"Whether it is a slow year or not, it boils down to the right product offering targeted at the right customers at the right location," he said. "Despite tighter banking regulations, there is liquidity in the marketplace and we are fortunate too that Bolton is a good and trusted brand name."

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