sim lian group

The 39-storey apartment will be one of two identical residential towers which have a combined gross development value of RM864mil. There will be 168 units of apartment in each block in eight different configurations.

Sim Lian has not launched the second block but estimated that construction of both residential towers would be completed by end-2015. The company’s subsidiary, Perumahan SLG Central Sdn Bhd, will be overseeing the construction of both towers.

Perumahan SLG director George Wan said the company had decided to hold on to the other block as it gauged buyers’ interest in the first block.

“The launch of the other block will depend on the take-up of this block,” he said at the launch. “We are also considering whether to get a hospitality company to operate the other block.”

Since the preview in Singapore at the end of May, the company has sold about 15% of the semi-furnished apartments.

KL Trillion serviced apartments are priced from RM1,071 to above RM1,800 per sq ft before discount. With a discount and under the developer interest-bearing scheme, the apartment prices start at RM965 per sq ft.

The fully-facilitated residences will have a selection of two to four-bedroom apartments and duplex penthouse units. The built-up areas range from 963 sq ft to 6,274 sq ft.

“In Kuala Lumpur, we are expecting to receive the same overwhelming response from Malaysians and foreign investors,” Wan said.

Wan believed that Kuala Lumpur property prices were affordable compared with other Asian cities. “Here, it’s very competitive. Even in Myanmar, they are already selling higher in US dollars, what more Hong Kong or Singapore.

“There is a possibility that if you spread it through time, the development will sell,” he said.

Sim Lian first launched KL Trillion’s 33-storey Grade A office suite in 2011, with more than 70% sold on a strata basis. The Green Building Index-compliant office has been equally taken up by Singaporean and Malaysian companies, with a handful of foreign corporations.

Besides the residential and office elements of the project, there will also be a five-level retail podium.

Wan said the company was already in talks with branded retailers to lease the shops out.

“We want to retain a certain image for the development and the residents, so we’re looking for good brands to bring in,” he said.

Save for KL Trillion as well as completed and ongoing projects in Johor, the company has no other landbank in Malaysia at the moment.

“We intend to acquire more land in Malaysia. Kuala Lumpur is always a good choice but we’re open to opportunities in Penang and Iskandar Malaysia, which is all the rage with Singaporeans now,” construction subsidiary SLC (M) Sdn Bhd director Lau Cheng Piw said.

Sim Lian’s first venture in the country was in 2005, when the company launched landed residential developments in Johor. In the same year, the company purchased the 4.452-acre parcel of land next to what is now The Intermark from Berjaya Corp Bhd to build KL Trillion.

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