WingTai Asia launches Tower B at Verticas Residensi

KUALA LUMPUR: Developer DNP Holdings Bhd, a subsidiary of Singapore-listed Wing Tai Holdings Ltd, is launching the second block (Tower B) of its high-end residential project Verticas Residensi situated within Bukit Ceylon in Kuala Lumpur on Jan 16, 2010.

The launch of Tower B follows the encouraging 70% take-up recorded for Tower A since July last year.

The freehold 432-unit Verticas Residensi, with a gross development value of RM700 million, will be completed in 1Q2012. It comprises three condominium blocks and one luxury serviced apartment block, which will be operated by Lanson Place. The latter is also in the WingTai Asia stable. WingTai Asia is made up of Wing Tai Holdings, DNP Holdings in Malaysia and USI Holdings Ltd in Hong Kong.

Units in Tower A were sold at between RM900 psf and RM1,300 psf, mainly to local buyers. Tower B offering 2-bedroom and 4-bedroom units sized from 1,400 sq ft to 2,400 sq f, are priced from RM1,100 psf.

DNP Land Sdn Bhd executive director Wong Weng Peng said for a limited time during the launch period, a 10:90 financing programme will be offered to homebuyers. “In addition to that, homebuyers do not pay anything for 24 months after vacant possession. This way, our customers will be able to maximise on their cash flow,” he explained

Deputy chairman of Singapore-listed Wing Tai Holdings and executive director of DNP Holdings Edmund Cheng told theedgeproperty.com Verticas Residensi would be an attractive investment. “We have put much thought into the design of Verticas Residensi, ensuring that we capitalise on its unique vicinity complementing the greenery and tranquility of the rainforest of Bukit Nanas,” Cheng added.

DNP Holdings has completed a number of high-end projects in the country including serviced residences Lanson Place Kondominium No.8 Ampang Hilir and Lanson Place Ambassador Row, mixed development Sering Ukay in Hulu Kelang and condominium The Meritz in Kuala Lumpur, which was completed in 2007.The developer also has projects in Penang and Johor Baru.