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Saturday, November 3, 2007

Ninety per cent of One Jelatek units sold in two hours

Offering the right product to the right people at the right place has led to One Jelatek's success

The overwhelming response to Tan & Tan Development Bhd's (TTDB) recently launched One Jelatek condominium project in Ampang suggests that there may be a new rush to buy properties on the periphery of the Kuala Lumpur City Centre.

With prices in the KLCC area skyrocketing to almost RM2,000psf in recent times, projects such as One Jelatek, located just minutes away on Jalan Jelatek and offering units at RM420psf, are generating strong appeal among buyers.

According to TTDB group marketing general manager Kevin Kuok, 90 per cent of the 90 units offered in the 20-storey low-density project were snapped up in an unprecedented record time of just two hours of its launch last week. The remaining 10 per cent are Bumiputera units.

"The Jelatek area, we believe, will be the next focal area for the city ... being not only close to KLCC, but also to Great Eastern Mall, The AmpWalk and the Gleneagles Medical Centre," he said, adding that the vicinity is also well-connected to the rest of the Klang Valley via Jalan Ampang, the Ampang Elevated Highway and two nearby Putra LRT stations.

"This area is, in fact, currently undervalued. Rising values in the city centre are bound to cause a boom there as buyers are constantly on the lookout for intelligent investment opportunities."

However, Kuok asserts that it was more than just location that led to One Jelatek's success, adding that it was the combination of providing "the right product to the right people in the right place" that made the project popular.

Offering one-, two- and threebedroom units in sizes starting from 1,327sq ft, the project targets young urbanites from the "Y generation" who have been growing in affluence and buying power.

"This is a growing market that's worth targeting... a young and affluent crowd of executives, many of whom are involved in the financial sector or are based overseas and earning in foreign currency, and they're eager to make a mark in society.

"With One Jelatek, we aim to give them a chic address, a place that reflects their identity and ambitions as well as help boost their image."

Among the condominium's unique and modern features are sky corridors and a sky deck leisure area that hosts an infinity-edge pool and glass gym, offering a bird's eye view of downtown KL.

By New Straits Times

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