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Monday, January 14, 2008

More high-end projects in pipeline in the vicinity of KLCC

HAVING carved a niche in the luxury condominium market in Kuala Lumpur, Tan & Tan Developments Bhd is setting its sights on the Kuala Lumpur City Centre (KLCC) area.

With its first project in the KLCC vicinity scheduled to roll out next year, the company is already making efforts to expand its landbank to have a bigger presence in the highly sought-after location.

Tan & Tan has a few parcels of land in the vicinity of KLCC and is looking to acquire more land and team up with other landowners for more signature projects in the area.

According to executive director Teh Boon Ghee, the tendering process for some parcels of the KLCC land is now underway.

The first project to kick off will be the 6 Stonor in Jalan Stonor, Kuala Lumpur. The project is slated for launch next year, with completion in three years.

The company has been granted approval for a 30-storey condominium block, and the project design and planning are currently in progress.

Teh said the 106 units of upmarket condominium would have built-up areas of between 2,800 and 8,000 sq ft with a tentative price of RM1,200 per sq ft.

“We want to do something more iconic and different for 6 Stonor to add value to the architecture landscape of the KLCC neighbourhood. The location is also splendid, and it will have Park 7 and Stonor Park as its neighbours,” he added.

Since pioneering the development of the first condominium project in the country (Desa Kudalari) in the early '80s, Tan & Tan has become one of the more well regarded names in the luxury condo market.

“Over the years we have been one of the leading property players in the Kuala Lumpur city area. The company's prime focus will remain within the city, and a number of new developments are in the pipeline for launch this year,” Teh said.

Among its list of successful condominium projects are One Jelatek, U-Thant Residence, Northpoint, Cendana and Hampshire Park.

The interior of the Hamsphire Place

One Jelatek, located close to the KLCC enclave, comprises a 20-storey block of 90 condominiums worth a gross development value of RM62mil.

The residences, with built-up areas of 1,327 sq ft to 1,649 sq ft, are priced from RM595,000 to RM1.7mil.

U-Thant Residence, located within the city's Embassy Row enclave, comprises three blocks of six and 10 storeys with 77 residences. The units of 2,400 to 6,800 sq ft are priced from RM2.1mil to RM4.55mil.

Cendana, along Jalan Sultan Ismail, comprises 152 condominiums of 1,900 to 5,000 sq ft priced from RM1.4mil to RM3.57mil, while the 437 condominiums in Seri Maya, Savanna, are priced from RM291,000 to RM794,000.

Meanwhile, projects in the pipeline include:

  • 20 Ampang Hilir - a 10-storey low density luxury condominium project worth a GDV of RM80mil

  • 3 Desa Pandan - an upper-medium service residences of 218 units overlooking KLCC and Royal Selangor Golf Club

  • and the proposed Mid Valley phase three comprising two 50-storey residential skyscrapers in Mid Valley City.

By The Star (by Angie Ng)

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