New 153,000 hectare township near KL planned for next 30 years

There are big plans for a big project spanning 153,000 hectares in Negeri Sembilan, just beside the administrative capital of Putrajaya. At twice the size of Singapore, the township will launch its first phase which at 11,000 hectares is 22 times the size of Sentosa, in Q3 this year. 

MVV ipropertyMYThe Malaysia Vision Valley (MVV) is a major township development which encompasses the Seremban and Port Dickson districts near the Kuala Lumpur International Airport (KLIA) and just an hour’s drive away from downtown Kuala Lumpur. The masterplan is managed by 2 government-linked entities – Sime Darby Properties and Kumpulan Wang Persaraan – and  is reflective of the Iskandar Malaysia development in Johor. The MVV will consist of 5 main clusters, namely: a Central Business District (CBD), residential estates, a nature city, an education and technology hub and a tourism and wellness precinct.

SenadaResidencesSimeDarbyPhoto credit: Sime Darby Properties

The residential offerings in this new township is expected to be at lower costs in comparison with the higher property prices in KL city. There seems to be future plans for an eventual merging of KL and Seremban within the next 2 decades and the current impetus is for the development to accrue RM290 million (S$93.9 billion) in investments and to become the hotbed of potentially 1.38 million job opportunities. The federal government has also put aside RM560 million to develop transportation infrastructure that will serve the MVV district.

 

Glass tower condominium project in KL

eatonresidencesgshThe glass ceiling may not be such a bad thing in the case of this 52-storey private residential project in Kuala Lumpur. The massive development will feature an all-glass facade and an infinity sky pool – the highest in KL.

Developed by Singapore’s GSH Corporation, it is the developer’s first condominium launch in KL though they already have a slice of the real estate pie with their involvement in the Sutera Harbour Resort in Kota Kinabalu and also the Coral Bay@Sutera residential development just next to The Magellan Sutera Resort .

eatonresidences2Photo credit: GSH Corporation

Overlooking the Petronas Twin Towers and Royal Selangor Gold Course, the 52-storey Eaton Residences will have views that may be well worth the RM1.14 million (S$375,000) to RM4.92 million (S$1.62 million) price tags. The 99-year development is slated for a completion date of 2020 and will consist of 632 units, each with a unique view of either the Petronas Twin Towers or the golf course due to the specially-designed tilt of the building. It will have a good range of 635 sq ft one-bedders to 2,874 sq ft four-bedders as well as penthouses sized between 2,200 to 3,000 sq ft priced at RM$4.19 (S$1.38 million).

GSH has released 200 units in its initial launch where 150 units have already been booked through private previews.

Luxury properties in Kuala Lumpur

Investment bucks in luxury properties here have been slow in coming especially since the implementation of the property cooling measures. But what about overseas property investments? Are there worthy fodder out there for the willing investor?

DC ResidencyNot too far away, in Kuala Lumpur, Malaysia, GuocoLand Malaysia has launched a whole new mixed-use development in Damansara City, just 5km way from the city centre. It will feature 2 residential towers, 2 office tower, a five-star hotel and a mall. The residential property is named DC Residency and will have 370 units in total.

Prices of these one- to three-bedders are starting at RM1,600 psf and will be occupancy-ready by the end of 2015. For the coming weekend’s pre-launch sale, they are offering up 60 units in one of their tower blocks with special incentives. Before their launch, the developers have already sold half of the units in Tower 1, with Singaporeans making up 30 per cent of the buyers.

The project seems promising, with its proximity to the the city centre, and being the only high-rise development built in the Damansara Heights area over the past 3 years. It also helps that the new Sungai Buloh-Jalan Semantan MRT line will be nearby.

And with news about the Singapore-Kuala Lumpur high-speed rail being able to transport passengers between the 2 cities in 90 minutes, Singaporean investors may see even more promise in the new property.