KUCHING: Having completed a string of prestigious projects, Platinum Victory Development Sdn Bhd (Platinum Victory) is set to embark on a five-acre niche development project located within the heart of Kuala Lumpur.
Just a stone’s throw away from the Kuala Lumpur Convention Centre (KLCC), Platinum Victory Face Project (Platinum Face) would be developed over three phases, with its first phase being the 733-unit luxury SoHo (small office home office tower).
Built with an estimated gross development value (GDV) of RM1 billion, the developer was keen on providing a lavish ambiance for its residence as it sought to cater to the high-end segment of the market.
“We are currently targeting the market elites who are mainly entrepreneurs and expatriates. As such, the developer has taken every little detail into account from its lavish interior fixtures, location to its showroom.
“Convenience being its primary concern, Platinum Face is unique in the sense that it is conveniently located at the main access roads of the city central, and to other modes of public transportation like the Bukit Nanas monorail,” said Amber Skyline Sdn Bhd’s (Amber Skyline) executive director Wee Ai Na.
Amber Skyline, which acts as the official branding consultancy firm for Platinum Victory, has been on a drive to market its clientele’s products, be it on a local landscape or on a global scope.
In light of this, the group was eager to tap into the East Malaysian market as it believed that the region would prove to be a good platform for its clients to build a presence.
“East Malaysia, being an emerging and flourishing market, will be a good medium for us to attract investors, thus increasing both states’ contribution to the developer’s occupancy rate.
“We have already sold 53 per cent of our total units with much interest coming in from Singapore, Hong Kong, China and other regions. We expect the East Malaysian market to contribute about 10 per cent of the total 733 units.
“We’ve already sold 35 units in Sabah during our soft launch alone, and we have no doubt to gain a bigger traction of the market going forward,” she added.
The SoHo units would be concentrated in two blocks of 51-storey building with 13 different layouts. The units would range between 880 square feet (sq ft) and 1,500sq ft priced at an average of RM1,400 to RM1,550 per sq ft.
These prices were, according to Wee, the average high rise property price index in the city centre and the prices offered by the developer were competitive.
“If we observe the overall property prices in our country as compared with other Asian regions, our properties are actually under-priced. Property prices per se will definitely increase over the next few years.
“With location and lifestyle being amongst the key selling points of our project, the units will prove to be a good investment in the long-run. As such, we are projecting a total rental yield of about six to eight per cent,” she outlined.
Slated to complete in the second quarter of 2015, Platinum Face would be fully-furnished with many of its designs and appliances sourced from prestigious international brand-names known for its quality and innovative style.
Built under the ‘luxury’ concept, the SoHo tower would have a rooftop recreational facilities, sky-pool overlooking the Kuala Lumpur city, fitness gym, concierge service and many more. The units would come with a freehold status, thus making it an ideal property purchase.
The developer had collaborated with GDP Architects Sdn Bhd (GDP Architects) to produce an European contemporary design for its residences.
Platinum Victory has been a key player in Malaysia’s property field with the development of its first Setapak Lake city project with Furquan Business Organisation Bhd in 1997.
Both groups had managed to weather the project successfully through the 1997 to 1998 financial crisis. Since then, Platinum Victory has since been building a train of developments throughout the country.
Source – Borneo Post
Food for thought: When the market is fearful, be greedy… Awesome!