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New luxury residence in KLCC
Asia Property Report - by Khalil Adis

A new luxurious residential development set to rival The Binjai on the Park will make its way in the heart of Kuala Lumpur city centre (KLCC) by the fourth quarter of 2011 with branded interiors designed by Sir Terence Conran.

Called the The Regent Residences Kuala Lumpur, this high-end 38-storey serviced apartment is the only residential development in Kuala Lumpur which has direct access to the underground Light Rail Transit (LRT) that leads to KL Sentral.

“The Regent Residences Kuala Lumpur will command a first-class location in the most sought after address of the KLCC, directly across from the iconic Petronas Twin Towers, along Jalan Ampang, with underground passageway leading straight into KLCC Suria shopping complex and KLCC park, convention centre and the Twin Towers,” Jennifer Chow, senior manager, corporate communications of DutaLand Berhad, says.

The Regent Residences will be built above the 8-storey Avenue K designer mall and will be home to a luxurious 236-room hotel called The Regent Kuala Lumpur. 12 floors or 115 units have already been designated as serviced apartments with two facility floors at the top of the hotel.

“Both the hotel and the residences will be built above the 8-storey Avenue K designer shopping and eating mall so purchasers will be buying into a lifestyle choice,” Chow says.

Analysts say The Regent Residences´ location makes it advantageous for owner/occupiers seeking greater convenience and security.

“The Regent Residences is located in a more urban location with direct access to public transport and retail. This convenience is a great attraction to some owner/occupiers. Also, many owner/occupiers feel safer in a busy urban environment,” Chris Hahn, Savills Rahim & Co’s manager for overseas business development, says.

While The Regent Residences does offer views of the city´s famed Twin Towers and KLCC Park, analysts say The Binjai on the Park´s view still reigns supremacy.

“Binjai on the Park has views over the entire KLCC Park. The Regent Residences will rival in terms of view but less direct and less view of the park,” Hahn says.

“We are of the view that The Binjai on the Park’s location is unsurpassed for the simple fact that it is located next to the 50-acre KLCC Park enjoying an unobstructed view of the Petronas Twin Towers. The Regent Residences will in fact face Four Seasons directly, with an oblique view of the Twin Towers,” Eddy Wong of DTZ Nawawi Tie Leung residential explains the differences between the two developments.

Still, Chow predicts The Regent Residences to command a premium in terms of capital gains based on its views, location, branded interiors and pricing.

“Over the last 12 months, investment returns for prime luxury properties in KL has ranged from 30 to 40 percent. Even with prices today at US $600 to $700 per sq ft, with another 20 percent gain over the next year, prime luxury properties are about 40 percent of Singapore´s current values for luxury properties," Chow says.

The Regent Residences is developed by KL Landmark Sdn Bhd with units priced from US$400,000 upwards. The units offered will comprise one, two and three-bedroom apartments plus two levels of sprawling penthouses units. The apartments will vary in size from 548 sq ft to 2,506 sq ft while the penthouses will range from 2,634 to 3,719 sq ft.

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Asia’s second largest H&M store to open in Avenue K by autumn, says source

Posted on May 29, 2013 - Featured, Property News.

Doutzen Kroes is one of the faces for H&M’s summer collection this year.

After rapidly opening three Malaysian stores last year–in Lot 10, Setia Alam City Mall and Paradigm Mall, PJ–global fashion chain H&M will in a few months open what will be its second largest Asian store in Avenue K mall, believes a source close to the development.

“You can expect a lot of changes in store, especially with a change in leadership in the mall,” he said at the event announcing upcoming tenants for Avenue K. The mall, which is located across from KLCC on Jalan Ampang, is currently being renovated and revamped.

At the event, it was revealed that H&M will take up three floors in Avenue K, extending from the ground floor’s highly visible street frontage on Jalan Ampang to the concourse level which connects to the KLCC LRT station.

Singaporean retail and property consultancy company, Synergistic Real Estate Management & Network Pte Ltd (SRE) was pulled in to rejuvenate this mall which has previously suffered from low occupancy and footfall.

“Avenue K has been idle and unloved for a while,” admitted Avenue K general manager, Sue Wang who was seconded from SRE. “But forget the old story, let’s talk about the new story!”

As part of the new story, other tenants coming in include Australian fashion store Cotton On which will open a flagship store, Popular bookstore, local supermarket Presto (also in Citta Mall and Taman Tun Dr Ismail), sportsware store Original Classics, Crocs, Chatime, The Loaf, Krispy Kreme, Swensen’s, and EMS Entertainment (which also offers “The Ice Age Experience” at 1 Mont Kiara mall).

Existing tenants like Fitness First, Leica, and Stage Kuala Lumpur, will remain.

While reticent to reveal how many tenants have already signed into the mall, Wang promised that the mall will be 70% occupied by the time it is re-opened in October. “Before this, we were calling people, but now people are calling us,” she said confidently.

Wang revealed that “round about RM50mil” was spent on renovations, which included the moving of escalators and walls, among others, to provide better layout, and with consideration for feng shui principles.
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