The Legend International Water Homes, located at two miles off Jalan Seremban in the beach town, started construction in January 2007 and will be opened to owners and holidaymakers this October.
"We will continue to market the project overseas," executive director Datuk Yap Chuan Thai said at a media briefing in Kuala Lumpur yesterday.
Over 90 per cent of the project, with gross development value of RM150 million, were sold to mainly foreign buyers from the UK, Hong Kong, Singapore, Macau, the Gulf states and some European countries, Yap said. Buyers have the option to lease back with an 8 per cent gross rental income return a year.
The project has 166 water homes, 44 garden chalets and 39 sky pool villas that are priced between RM400,000 and RM700,000 each.
With an average size of 826 sq ft to 1,312 sq ft, they are all studio units equipped with private pools, designed in Balinese concept.
Mandy Chew Siok Cheng, president of The Legend Group of Hotels and Resorts, which will manage the property, said it expects 68 per cent occupancy in the first year. Room rates average around RM400 per night.
Yap said the global economic turmoil has not affected Kuala Lumpur Metro's sales. The company plans to start another similar project called the Hibiscus in Penang next year.
"We have not finalised the layout yet, so there's not much details. But with our strong marketing network overseas, we are confident sales," Yap said.
By Business Times (by Chong Pooi Koon)
"We will continue to market the project overseas," executive director Datuk Yap Chuan Thai said at a media briefing in Kuala Lumpur yesterday.
Over 90 per cent of the project, with gross development value of RM150 million, were sold to mainly foreign buyers from the UK, Hong Kong, Singapore, Macau, the Gulf states and some European countries, Yap said. Buyers have the option to lease back with an 8 per cent gross rental income return a year.
The project has 166 water homes, 44 garden chalets and 39 sky pool villas that are priced between RM400,000 and RM700,000 each.
With an average size of 826 sq ft to 1,312 sq ft, they are all studio units equipped with private pools, designed in Balinese concept.
Mandy Chew Siok Cheng, president of The Legend Group of Hotels and Resorts, which will manage the property, said it expects 68 per cent occupancy in the first year. Room rates average around RM400 per night.
Yap said the global economic turmoil has not affected Kuala Lumpur Metro's sales. The company plans to start another similar project called the Hibiscus in Penang next year.
"We have not finalised the layout yet, so there's not much details. But with our strong marketing network overseas, we are confident sales," Yap said.
By Business Times (by Chong Pooi Koon)
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