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Friday, July 2, 2010

BKP to expand land-bank in Klang Valley

BEIJING: Bukit Kiara Properties Sdn Bhd (BKP), a developer of luxury residential properties (mostly high-rise) in the Mont’Kiara neighbourhood of Kuala Lumpur, is looking to expand its land-bank in the Klang Valley.

BKP group managing director NK Tong said at a media briefing on Wednesday that the company was looking to expand land-bank in central Kuala Lumpur as well as central Klang Valley.

“We’re looking actively to acquire land, smaller plots in KL for high-rise projects and bigger parcels in the suburbs for landed and gated developments,” he said.

Tong added that the size of the land parcel in the suburbs would have to be about 20ha to 40ha and preferably freehold.

He said the possibilities for land acquisition existed in locations between KL and Putrajaya. “There’s still room to grow there.”

Currently, the company is developing the second and third phases of Verve Suites on a 2.35ha freehold land in Mont’Kiara. The first phase has been completed and sold.

The second phase, known as Vibe Tower, is fully sold while the third phase, known as Vogue tower, is nearly sold out.

The fourth and final phase, the 34-storey RM216mil Vox Tower, which was previewed in early June, has seen more than three-fourths of the 250 units sold at average prices of RM1,200 to RM1,300 per sq ft.

Tong said the company was keeping options open on the whereabout of the larger parcels to be acquired.

“We haven’t found anything just yet, but I think if we find the right place, we’ll be ready,” he said.

On Tuesday, BKP, represented by Tong and members of the management team, signed a memorandum of agreement with BSH Home Appliances Sdn Bhd, the maker of Bosch home appliances at the Shanghai World Expo.

The agreement would see BSH furnish the second through fourth phases of Verve Suites with Bosch washer cum dryer. BSH in an earlier agreement signed in 2007 with BKP is furnishing the first three phases of Verve Suites with Bosch kitchenware.

The fourth phase comes with suites sized from 462 sq ft, 926 sq ft and 1,395 sq ft, and with one to three bedrooms.

This phase would feature a sky lounge, known as theVersilica Sky Beach where residents could sunbathe or swim with a view of the KL skyline. Besides Verve Suites, BKP has two other projects in the pipeline – The Ambangan located along Persiaran Madge, consisting of 19 units in a five-storey block and Verve Suites KL, a 20-storey, 170 luxury serviced apartment units.

By The Star

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