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Thursday, October 9, 2008

KSL to sell latest project overseas

JOHOR BARU: KSL Holdings Bhd is targeting the foreign market for its latest project, D’Esplanade Residence @ KSL City.

Executive director Ku Hwa Seng said for a start it would appoint an international property agent based in Singapore to attract residents and expatriates in the republic.

“We are also targeting Malaysian professionals working and residing in Singapore,” Ku told journalists yesterday during a sneak preview of the project which will be officially launched this weekend.

D’Esplanade Residence will comprise a four-storey retail podium block, two 20-storey hotel blocks with 1,000 rooms, and two 33-storey apartment towers with 346 units when fully completed in about three years.

The 33-storey Glass Tower I apartment block will comprise 242 units with built-up areas of 1,000 to 10,000 sq ft.

The price ranges from RM500,000 to RM10mil for a penthouse unit.

“Pricing for the Glass Tower I units should be attractive to Singaporeans as a similar unit there could easily cost S$1mil to S$3mil,” said Ku.

The RM500mil KSL City is located within the matured Century Gardens, opposite the Holiday Plaza shopping complex and near Jalan Datuk Suleiman.

It is about 2km from the Johor Baru central business district and the new Johor Baru Customs, Immigration and Quarantine complex.

Glass Tower II, with 104 units, would be launched in six months and the price of each unit would start from RM1mil, Ku said, adding that after Singapore, the company would promote the project to investors in Dubai and Hong Kong.

By The Star (by Zazali Musa)