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KIARA163 | Kuala Lumpur (Mont Kiara)

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YNH builds on success in Mont'Kiara
By Au Foong Yee
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How do you take on the tried and tested branded developers in your midst? You could skip the competition and take your development elsewhere. Or, bite the bullet by pricing your project significantly lower to woo buyers who would otherwise snub you. YNH Property Bhd chose the latter for its maiden luxurious condominium launch in Mont'Kiara, tagging the first of its two blocks of the 238-unit Ceriaan Kiara at RM350 psf onwards despite the primary condo market being priced then at an average of RM500 psf.
Then it threw in a RM10,000 early bird discount to sweeten the buy.
That was about a year ago. The strategy worked; three days into the launch, the developer managed to sell over half of the non-bumiputera units in the first block. The second block, underwritten by CIMB-Mapletree (a joint venture between CIMB Real Estate Sdn Bhd, a wholly-owned subsidiary of the CIMB Group and Mapletree Capital Management Ltd) was put on the market in January this year at RM440 psf onwards. At press time, 85% of Ceriaan Kiara had been sold, with the first block completely taken up.
Now, YNH is ready to unveil its second project in the exclusive enclave before the current quarter is over. Anyone hoping for huge discounts again will be disappointed. "These will not be forthcoming; RM600 psf is the indicative price," Daniel Chan, YNH's group corporate services head, tells City & Country.
While the gross development value (GDV) of Ceriaan Kiara is some RM200 million, the second project, called Kiara 163, will be higher at RM680 million or more.
Coming up next to Plaza Mont'Kiara on the busy Jalan Kiara 1, Kiara 163 is an integrated freehold commercial development, comprising a retail podium with food and beverage outlets, a 2,500 seat auditorium (for concerts, performances, conferences and meetings), an office tower and two blocks of serviced apartments (see table).

Retail podium
This will occupy four levels, including the lower ground floor. It will be positioned as a neighbourhood centre catering for both the affluent expatriate and local population. F&B outlets, a supermarket, speciality stores (fashion, eyewear and watches) and service providers (laundry, medical and dental clinics) are on the developer's list of retailers.

Office tower - 23storey
The developer is targeting corporations that do not require a city centre address, offering relatively smoother traffic flow and more parking bays. Design-wise, the tower has been described as modern and sleek-looking, befitting the corporate headquarters of a large corporation. Add to this a prestigious address and strategic location with easy accessibility.

Serviced apartments
These will be housed in two blocks, each 42 storeys high. Tower A's 202 units of apartments and penthouses will be bigger than the 382 units in Tower B. The developer has described the architecture of the two blocks as "truly unique with a curved block design not seen before in Mont'Kiara". The modern contemporary look, the developer says, will be accentuated by an extensive use of glass. The apartments will be equipped with facilities such as a swimming pool, Jacuzzi, glass-walled gym surrounded by water, squash court with garden setting and an entertainment pavilion.

From the north
YNH is a Perak-based township developer that ventured into the Klang Valley in early 2000, quietly mopping up prime tracts in the Kuala Lumpur Golden Triangle, Mont'Kiara and the neighbouring Sri Hartamas enclave. The land acquisition paved the way for the developer's penetration of the top league of Malaysian property development, with growing exposure to the upper-middle to high-end residential and office subsectors with prime addresses in the property hotbed of Klang Valley.
Boasting one of the largest unbilled property sales in the country, YNH has sold 50% of Menara YNH, coming up on Jalan Sultan Ismail in Kuala Lumpur, to the Kuwait Finance House (KFH) for RM920 million. The 45-storey building will have two wings on a retail podium with more than 55,000 sq ft of built-up per floor or 1.2 million sq ft of lettable space. It will be designed by Foster and Partners.
It is no secret that YNH will part with the remaining 50% of the building but only, says Chan, at 20% to 30% more than what KFH paid. "It's definitely worth more, considering the investment in architecture and its prime location," says Chan, adding that there is no pressure for the company to cash out, given the expected attractive yield.
"Opposite Menara YNH are Menara Prudential and the IMC Tower that house an insurance company, international investment banks and fund management companies. Further up on Jalan Sultan Ismail is Menara Dion, where international investment bank tenants, such as JP Morgan and BNP Paribas, are paying average rents of about RM7 to RM7.50 psf," says Chan.
Taking shape not far from Menara YNH on Jalan Perak is 163 Serviced Suites, the developer's debut project in the Klang Valley. The serviced apartment-cum-office suites on a 1.04 acre tract has a GDV of some RM322 million. Initially priced at RM800 psf, the serviced apartments now average RM1,200 psf, with the latest transaction recorded a few weeks ago at RM1,400 psf, says Chan. The 16-storey office block has been sold en bloc at RM1,100 psf. The retail space totalling about 35,000 sq ft has also been sold en bloc.
At press time, 99% of the 217 units of serviced apartments had been sold, with foreigners (mostly from Singapore, India and Europe) accounting for 50% to 60% of the buyers. The developer has appointed Frasers Hospitality to manage the serviced apartments.

Kiara 163
Back to YNH's latest exploit in Mont'Kiara. Given the US subprime crisis and lacklustre stock market, is this a good time to launch? Yes, says Chan. "It's all about location, location, location. With good location, timing is not a problem, especially with commercial property. Besides, YNH has net cash of RM140 million. So, any time is a good time."
YNH last year bought a 70% stake in the company that owns the land from Triple-H Auto Parts Sdn Bhd, paying RM67.87 million cash and assuming RM4.6 million in debt. Based on a tag of RM68 million, the land cost will work out to RM371 psf or so. Then in March this year, YNH acquired the remaining 30% interest in the land for RM33 million or RM421 psf.
"The land cost in Mont'Kiara is high; ranging from RM250 to RM500 psf, with the sunken cost coming up to anything from RM150 to RM200 psf," says Chan. "We offer a good catchment with purchasing power. Foreigners are keen on KLCC and Mont'Kiara. This is a niche development; there is not much of such supply."
According to Chan, YNH may sell the different components of the project en bloc, including real estate investment trusts (REITs) and has received enquiries. For sure, the retail units will not be sold individually to ensure their value.
YNH knows too well that branding pays. As does market quality. "We have priced Ceriaan Kiara competitively; the market in Mont'Kiara now knows us. With benchmarking pricing, we can have benchmarking quality," says Chan.
"Our aim is to be a top developer in terms of return to shareholders and also to our property buyers," he adds.
YNH Property, with its business history dating back to 1982, was incorporated as a private company on Oct 18, 2001, and subsequently listed on Bursa Malaysia in December 2003. It is said to control some 65% to 70% market share in Perak's Manjung township, comprising Sitiawan, Lumut and Sri Manjung.

D’Kiara Place – Mont’ Kiara, Kuala Lumpur
The 6 acres freehold development property is strategically located in Mont’ Kiara, Kuala Lumpur, beside the McDonalds outlet in Plaza Mont’ Kiara and opposite One Mont’ Kiara. YNH Property Bhd intends develop this mixed development project which will consist of service apartments, office block, retail centre and auditorium. The estimated gross development value for this D’Kiara Place project is RM700.00 million.
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YNH plans RM2.1bil projects in KL


YNH Property Bhd plans to launch luxurious residential and commercial projects with an estimated gross development value (GDV) of RM2.1bil in Kuala Lumpur in late 2007 and early 2008.

Group financial controller Y.M. Chan said the highlights were the RM300mil Duta Kiara 163 Suites and the RM600mil D'Kiara Place that would start construction in 2008.

“The Duta Kiara 163 Suites, located on a 2.8-acre site adjacent to Duta Nusantara, will comprise 110 units of luxurious condominium.

“Each unit, with a built-up area of at least 3,800 sq ft, is priced at about RM3mil,” he told StarBiz.

He said the construction would start in the first half of the year 2008 and was expected to be completed in 2011.

The D'Kiara Place project, located next to Plaza Mont'Kiara, is a mixed-development scheme on six acres comprising retail units and service condominiums.

It will have two 42-storey blocks of 584 service apartments, a 23-storey office block, and one block of seven-storey podium, comprising three stories of retail lots and four stories of auditorium space.

“There will be two blocks of four-storey car park bays,” said Chan.

The present selling prices of the residential and commercial properties in the Mont'Kiara neighbourhood range between RM350 and RM500 per sq ft, depending on the type of property.

The Duta Kiara 163 Suites project by YNH

“We expect the selling prices of our project to appreciate between 10% and 15% per annum,” he said.

The D'Kiara Place is expected to contribute to the group's revenue from 2008 till 2012.

Chan said the RM1.2bil project Menara YNH located along Jalan Sultan Ismail on a 3-acre site beside Shangri-La Hotel would start soon.

“Several reputable and global players from Hong Kong, Singapore and New York have come to negotiate with us on a joint venture to develop the project and the negotiations are progressing well.

“The project involves the construction of a single iconic office tower. We intend to call for tender on the construction of the project very soon,” he said.

The Menara YNH project is targeted for completion in 2011.

Chan said the group had about 17 acres of land bank in various prime locations of Kuala Lumpur such Jalan Sultan Ismail, Changkat Kiara, Duta Nusantara, and Duta Solaris.

“We plan to launch luxurious residential property schemes, comprising high-rise properties, there in 2009. The GDV for the forthcoming projects, scheduled for completion in 2013, is estimated to be over RM900mil,” he said.

For its second quarter ended June 31, 2007, YNH posted RM22.4mil in after-tax profit on the back of RM68mil revenue, compared to RM20mil and RM57mil respectively in the previous year's corresponding period.

Listed on Bursa Malaysia in 2003, the group started its real estate business in 1987 in Sitiawan, Manjung and Lumut in Perak, where the group's flagship Bandar Manjung Point township sits.

The project will provide stable revenue of about RM75mil per annum with the construction of 500 commercial and residential units each year.

There is about 1,000 acres of land bank left in Bandar Manjung Point township which the group can develop residential and commercial properties with a gross sales value of RM2.2bil.

The development projects for this land bank in Perak will be carried out in phases for the next 20 years.
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Keen interest prompts latest YNH launch

It targets to unveil RM1bil Kiara 163 suites next month

YNH Property Bhd is targeting to officially launch its RM1bil Kiara 163 suites, a mixed development project in Mont’ Kiara, Kuala Lumpur, next month.

The project comprises a 23-storey office tower (175,000 sq ft), two 42-storey serviced apartment blocks (595,000 sq ft), retail podium (142,000 sq ft), and an auditorium (175,000 sq ft).

“We are launching the project due to keen interest from prospective local and foreign purchasers and also due to its prime location.

“There are always investors who look at property investment as a good hedge against inflation.

“We have secured about RM260mil in sales for the office and retail space to-date,” said group corporate services head Daniel Chan.

An artist's impression of the Kiara 163 project

Chan said that to add value to Kiara 163, the retail podium and serviced apartments had eye-catching architectural designs and recreational facilities.

The two 42-storey serviced apartment blocks had a unique curved block design that was accentuated by the extensive use of glass windows, he said.

“The apartments will be equipped with facilities such as a swimming pool, jacuzzi, a gym, squash court with garden setting, and an entertainment pavilion,” Chan added.

The four-level retail podium is positioned as a neighbourhood retail centre catering to affluent expatriates and the local population.

“Food and beverage outlets, a supermarket, specialty stores which deals in fashion, eyewear and watches as well as service providers, including laundry outlets and medical and dental clinics, are on our list of retailers.

“The unique feature of the retail podium is the sunken outdoor courtyard where the food and beverage outlets will be located,” Chan said.

The office tower block, which would provide an alternative to corporate headquarters that did not require a city centre address, was also designed to accommodate small home-office units, Chan added. “This would help us tap into diverse markets,” he said.

The group’s other mixed-development projects, Duta Kiara 1, Duta Kiara 2, Duta Kiara 3, Duta Kiara 5, Duta Kiara 6 and Project 3KL, located in Mont’ Kiara, Hartamas and Kuala Lumpur city centre, would be launched over the next two years, Chan said.

These projects have a total gross development value (GDV) of about RM2bil.

“Our projects in KL and Mont’ Kiara, such as the Fraser Place KL and Ceriaan Kiara, have been well received with Fraser Place KL achieving sales of about 99% and Ceriaan Kiara 87% to-date,” said Chan.

Fraser Place KL is scheduled for completion soon, while Ceriaan Kiara will be ready by end-2009.

In Manjung the group’s “bread and butter” township development will continue to contribute to earnings for the next 20 to 30 years due to the demand from employees of the Lumut Naval Base as well as workers at the oil and gas fabrication and biodiesel plants there.

On the status of Menara YNH, the group had accepted Kuwait Finance House’s offer to buy 50% of the iconic “Grade A” office tower in January, Chan said.

“This property, located in the central business district, is designed by a world-renowned architect firm, Fosters and Partners.

“We are not in a rush to sell the second block as we want to get the best value for our shareholders.

“Based on our earnings before interest, tax, depreciation and amortisation of 50%, we are able to achieve a yield of above 7.20% if the rental is conservatively priced at RM3.80 per sq ft,” he said.

Chan said the company’s dividend policy was at least 30% of profits but the group had paid a higher rate in the past few years.
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Good location will save the day for YNH

IPOH-BASED YNH Property Bhd believes it can still benefit from the global economic slowdown by focusing on developments that are located in good and prime locations.

As cliche as it may sound, adhering to the old adage of “location, location, location” speaks volumes for YNH head of corporate services Daniel Chan.

“While the Malaysian property market should experience a slowdown next year, we feel that properties in good, prime locations will still be able to generate good demand,” he says, adding that the company is not scaling down or deferring any of its ongoing projects despite the current economic downturn.

“All of our projects are on track and we are going full swing,” he says.

Two primary developments that YNH has in the pipeline are its Kiara 163 mixed development project in Mont’Kiara and a township development in Manjung, Perak, both of which Chan says are situated in “good locations”.

He says the Kiara 163 project is targeted at both local buyers and expatriates and that YNH plans to launch the project in the first quarter of 2009.

The Manjung development is still under construction and is targeted at primarily government employees.

“Civil servants earn consistent salaries and they are least likely to be retrenched,” he says.

Chan says Malaysia’s property market is still resilient compared with many Asian and developed countries.

“Property in Malaysia is still very affordable compared to countries like Hong Kong and Singapore,” he says, adding that the recent interest rate reduction by Bank Negara is a good move to promote spending.

“Lower interest rates means it would be cheaper to borrow money and easier to repay your loan,” Chan says.
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On YNH’s other projects, the official said the retail area of Kiara 163 had been sold for a total of RM200mil. Sales for the apartment units of this project in the Mont’ Kiara area of Kuala Lumpur have not been launched yet.
YNH’s serviced residences to be managed by Fraser & Neave

GEORGE TOWN: YNH Property Bhd rebranded a month ago its RM350mil 163 Seviced Suites project as the five-star Fraser Place Kuala Lumpur to be managed by Frasers Hospitality Pte Ltd, the hospitality arm of the Fraser & Neave Group.

Fraser Hospitality manages four and five-star serviced residences equipped with hotel facilties worldwide under its prestigious Fraser Place, Fraser Residence, Fraser Suites, and Fraser Resort brand names.

Fraser Place Kuala Lumpur is scheduled to commence operations and grand opening in November 2009.

“We brought in Fraser Hospitality to manage because this will enhance returns and add value to our investors from the rentals of the serviced suites,’’ YNH corporate services head Daniel Chan told StarBiz.

“We estimated that for the location – Jalan Perak – where the project is located, which is five minutes from the KLCC shopping complex, the yield generated from rental is between 6% and 10% per year based on the purchase price of the units.

“Fraser Place Kuala Lumpur will be one of the higher-yield generating properties based on the purchase price of the units, which ranges from RM600,000 to RM2mil,” he said.

Chan said Fraser Place Kuala Lumpur was sold out, leaving only about RM80mil in unbilled sales to be recognised.

YNH started selling the project back in late 2005, and completed the sales only recently.

“The investors, both local and foreign, have agreed to lease their properties back to us, as they realised that they could generate higher returns through Fraser Hospitality management,” he said.

Fraser Place KL offers 217 rooms, comprising studios with one and two bedrooms and luxurious penthouses, with built-up areas ranging from 450 to 4,000 sq ft.

Chan said the group had also engaged Fraser Hospitality to manage its 446-unit serviced residence development to be known as Fraser Residence Kuala Lumpur, off Jalan Sultan Ismail, next to Renaissance Hotel.

The RM550mil project, comprising two 30-storey towers with one and two-bedroom serviced apartments, features a sky gymnasium, infinity lap pool, whirlpool and sauna.

“It is scheduled for completion in four years,” Chan said.

On the group’s 95-acre land in Genting Highlands, he said YNH planned to develop residential cum commercial projects with an estimated gross sales value of RM2bil.

On the group’s other projects, Chan said YNH had recently achieved sales of RM300mil for Menara YNH’s retail podium, which measures 180,000 sq ft.

“The offer from Kuwait Finance House to take up 50% of the office space in Menara YNH is expected to be finalised this year,” he said.

On the Kiara 163 project, located next to Plaza Mont Kiara, Chan said the group had achieved sales of RM200mil for the commercial component measuring 480,000 sq ft.

“We will launch the residential component, comprising serviced apartments, soon as there are a lot of enquiries from the local and overseas market,” he added.
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I have to agree with bluebirdman. I stayed in manjung for more than 18 years now. their development are suck. same model over and over again. even a shop house were selling for 380 - 400k in manjung district. the design exactly the same as past 10 years.
YNH targets RM1b property sales in FY12

By Chong Jin Hun
Monday, 16 January 2012 15:11

KUALA LUMPUR: YNH Property Bhd foresees flat property sales growth in the current fiscal year in the absence of new launches during the period.

Head of corporate services Daniel Chan said the developer expects to sell about RM1 billion worth of properties from existing projects for its FY12 ending Dec 31, which is almost similar to what it achieved a year ago.

“Sales are there and we will see profit in the next four to five years. However, the biggest catalyst is the RM2.1 billion Menara YNH in Jalan Sultan Ismail, Kuala Lumpur.

Chan: If we can sell the tower en bloc, our sales will jump.

“If we can sell the tower en bloc, our sales will jump,” Chan told The Edge Financial Daily in a recent interview.

YNH’s existing mixed developments include the RM600 million Fraser Residence off Jalan Sultan Ismail and Jalan Ampang, and the RM1 billion Kiara 163 in Mont’Kiara. The developer is also undertaking residential and commercial projects within some 1,000 acres (400ha) in Manjung, Perak.

YNH launched around RM5 billion worth of properties in FY11 and raked in RM1 billion in sales during the year. The company sold RM450 million worth of properties in Fraser Residence and raked in RM300 million from Kiara 163, said Chan. In Manjung, he said YNH had secured sales of about RM250 million.

While YNH has not lined up any launches for FY12, Chan said the company intends to unveil its mixed development on a 95-acre tract in Genting Highlands next year. Besides the commercial and retail portions, the estimated RM3 billion project will include condominiums and bungalows.

Menara YNH will be closely watched as this development is seen as a major catalyst for YNH’s bottom line growth. The project has been delayed several times since 2006, as deals by two prospective buyers were terminated.

According to Chan, the developer which plans to sell Menara YNH en bloc, is talking to potential local and foreign buyers to acquire the commercial tower. He declined to specify the buyers, only indicating that they included foreign businessmen with deep pockets.

“These foreign tycoons are major real estate investors,” Chan said. He indicated that Menara YNH, by virtue of its strategic location, had attracted market interest and that YNH is not in a rush to sell the property as it hopes to secure the highest price.

“We will consider if the price is good,” Chan said, without specifying the timeframe when the deal would be finalised.

YNH had originally tied up with Singapore property giant CapitaLand Ltd on the project. The two companies signed an MoU in December 2006 to jointly develop Menara YNH on a 60:40 basis. Construction was originally slated to begin in mid-2007 with completion by end-2011. But in June 2007, the MoU was terminated.

In January 2008, YNH announced that it would sell half of the Menara YNH project to Kuwait Finance House (KFH) for RM920 million. The sale involved an area of 750,000 sq ft at RM1,230 psf, which at that time set a new high as it was about 10% higher than the record price commanded by the 36-storey Glomac Tower nearby.

KFH was supposed to take up half the building with the rest to be sold to other buyers. YNH was to rake in RM1.84 billion in total proceeds from selling the entire project. But the KFH sale fell through due to the global financial crisis. In December 2009, KFH informed YNH that it would not proceed with the formalisation of the sale and purchase agreement.

YNH’s net profit for the nine months ended Sept 30 fell 14% to RM40.22 million from RM46.55 million a year earlier while revenue dropped 26% to RM158.02 million from RM213.97 million before. Its net profit was curbed by higher tax expenses, according to notes accompanying its latest financials.

As at Sept 30, YNH had cash of RM17.47 million versus debts of RM265.07 million, translating into a net debt of RM247.6 million or net gearing of 0.3 times.

Its latest reported net assets per share stood at RM1.92. YNH shares closed at RM1.85 last Friday.

YNH, listed on Bursa Malaysia in 2003 under its former name Yu Neh Huat Bhd, began as a plantation entity in 1982 before venturing into property development.

The group’s real estate business took off in 1987 within Perak’s Sitiawan, Manjung and Lumut corridor where the group’s flagship Bandar Manjung Point township sits.
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What next for Mont’Kiara?
Posted on 3 February 2012 - 11:53am

You thought Mont’Kiara was all built up? Think again, as there are several patches of land held by developers that are still keeping property watchers guessing. Included among them is the one that got this affluent and internationally minded suburb rolling, Sunrise Berhad, as well as later comers such as Asia Quest (of Kiaramas developments’ fame), Crest Builders, Sunway City and Dijaya Corporation.

Over the last few years, sentiment for high-end condominiums, the staple for Mont’Kiara, has been cooling however. There has been a return in appetite for landed property while the post-global financial crisis slowdown has seen expatriate numbers shrinking.

Nevertheless, the cranes are still lifting and the concrete still pouring for opulent residential projects such as MK 28 and One Mont Kiara, which are being built by Sunrise and Monday-Off Development Sdn Bhd respectively. On top of that, more developers are scheduled to launch their projects here this year.

Not least among these is YNH Property Berhad’s anticipated Kiara 163 project. Located centrally next to Plaza Mont’Kiara, this commercial project comprises SOHO units, service apartments and a retail podium. To be officially launched in a month or so, registrations for its first phase of SOHO units are already taking place and response has been encouraging, says YNH’s director and head of corporate strategy Daniel Chan.

These units range in built-up area from 600 to 1,000 sq ft while prices range from RM700 to RM800 per sq ft. Early birds can take into account a discount of between 5% and 10% and a Developer Interest Bearing Scheme (DIBS).

The next phase will be the project’s serviced apartments, to be managed by the Swiss-Belhotel chain. The entire project, including its retail components, is estimated to have a gross development value of RM1.2 billion.

“A significant portion of the SOHO units have seen interest,” says Chan, who is enthusiastic about property in Mont’Kiara. “There is a lot of infrastructure here, like international schools and highways like Penchala Link, the Duke Highway and the planned MRT stations. People who buy into Mont’Kiara still go for the expat lifestyle so it’s special like that.”

Two roads down, the quieter Jalan Kiara 5 is set to see the debut of boutique condominium SunKiara. This project comprises 200 rather large units ranging from 2,143 to 3,316 sq ft in size. It will be the developer’s first condo development and units are competitively priced considering the Mont’Kiara market, at RM500 to RM600 per sq ft. The 2,543 sq ft units are priced from RM1.4 million for example, while the 3,316 sq ft units are priced from RM2.4 million.

“There is still demand in Mont Kiara, though it’s seasonal,” says SunKiara’s marketing consultant, Freddie Liew. “Sometimes they say it’s oversaturated but when take-ups and tenancies come in, buyers come back here again.” Since the developer’s son is a doctor, SunKiara will also have special medical facilities which include emergency defibrillators, says Liew.

Sunrise Berhad is not revealing much with regards to its future projects however. MK22 is planned to be a high-rise upmarket condo on six acres of land located off Jalan Kiara 3, now occupied by its Sunrise Sports Zone. Solaris 3 is located on 18.7 acres of land just east of Solaris Dutamas meanwhile. It has been described as a mixed development with shopping complex and with a sizeable GDV of RM2.2 billion. The developers are not yet showing any signs of debuting these projects to the public however.

A & M Realty Berhad is certainly taking a wait-and-see approach for its plot of land located on top of Jalan Desa Kiara (among Kiaramas’ projects). Planned for its Amverton Kiara condo, the project entails 190 luxury residences with only two units per floor and palatial built-ups sized from 2,500 to 4,000 sq ft. The developer is not yet ready to launch and the timing for this will “depend on the market”, according to the project’s salesperson.

Certainly not proceeding will be Soho SunSuria Kiara next to Solaris Mont Kiara. Posh residents from neighbouring condominiums such as Kiaraville and Tiffani Kiara protested late last year that this project, sited on what is currently an empty parking lot, would exacerbate already bad traffic congestion. Sunsuria Development Sdn Bhd’s director of business development Simon Kwan states that it will in fact not go through with this project.

Those complaining of over-saturation in Mont’Kiara will note that developers have been spreading across the Jalan Duta- Sungai Buloh highway to Dutamas, the area which some describe as the poorer cousin of Mont’Kiara but which has recently seen the entrance of luxury developer Bandar Raya Developments Berhad (BRDB).

Verdana is BRDB’s “first foray into the mid-range residential property market,” states the developer’s publicity material. If you consider RM600 per sq ft and above mid-range, then you’re in luck. Certainly, you would be getting the developer’s brand of elegant luxury–from full-height windows and timber flooring (in the bedrooms) to Bosch kitchen appliances and pristine landscaping.

Verdana also introduces a few interesting concepts: a master bedroom that can become a self-contained annexe with own door, while larger units (2,412 and 3,020 sq ft) inhabit the bottom floors rather than the top floors (as penthouses). The smaller units make up the higher floors, from the 7th to 25th floors and range in size from 1,451 to 2,070 sq ft. Close to 80% of this project has been sold since its launch last July and buyers no more receive an early bird discount.

Keep in mind that what is touted as verdant green surrounds for this first phase, located next to See Hoy Chan Sdn Bhd’s Sutramas condos, will one day make up Verdana’s second phase offering 400 more units to the market.

Traffic grousers can note that Verdana will build a new access road straight into Jalan Segambut. As such, its residents will not have to squeeze through Jalan Dutamas Raya along with the residents of 10 other condo developments as well as patrons of the French school located here.

Also breaking ground not far from Verdana is BCB Berhad’s Concerto Kiara, which will offer 440 luxury condomiums on the land located zbehind Menara Duta 2 condo. Built-up sizes range from 1,500 sq ft to 2,000 sq ft, and its launch is scheduled for March. Pricing is said to be comparable to Verdana, although its sales manager expresses that some of Concerto’s finishings are of a higher specification, eg private lift lobbies, marble flooring rather than tile, and granite kitchen counters rather than Corian type.

Concerto Kiara is targeting an equal mix of foreign buyers and local buyers. This is especially given the developer’s ties with property companies in China and its plans to launch in cities such as Beijing, Shanghai, Guangzhou and Xiamen.
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YNH Property
Mixed Comercial & Residential

No. Block:1
Service Apartment:2
Reatail & Auditorium:1
Starting Price : RM 550,000 from 645 sq.ft.

4 storey Commercial Retail
43 Story Service Apartment Tower
21 Storey Office Tower

Service Appartment with 583 units
Land Area 6 acres

Swimming Pool
Squash cpurt with garden setting
Entertainment Pavilion
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