Park Regent KL sells more than 70% of units since launch

Park Regent KL located in multi award-winning Desa ParkCity township

Park Regent, CapitaLand’s joint venture residential development with Malaysia’s ParkCity Group, achieved strong sales at its priority launch in Kuala Lumpur, Malaysia on Saturday and Sunday, 27 and 28 July 2019. As at 6pm on Sunday, 28 July 2019, more than 70% of the development’s total 505 units were sold at an average selling price of RM1,100 per square foot. Located in the highly regarded Desa ParkCity township, Park Regent offers six apartment types, ranging from one-bedroom units to four-bedroom units. The development is scheduled for completion in 2023.

Park Regent KL is expected to continue to see strong sales interest both locally and internationally.

Mr Ronald Tay, CEO of CapitaLand Singapore, Malaysia & Indonesia, Residential & Retail, said: “We are very encouraged by the positive response to Park Regent, which is more than 70% sold. The keen interest from homebuyers attests to the development’s attractive qualities – well-designed homes; excellent location within one of the most coveted neighbourhoods in Malaysia’s capital; and supported by a host of community amenities and green spaces. We are confident that Park Regent will continue to see strong sales interest both locally and internationally.”

Datuk Joseph Lau, Group CEO of ParkCity, said: “Desa ParkCity is currently home to an international community of approximately 16,000 residents – about 80% are Malaysians, while the balance is made up of a wide array of nationalities and expatriates. Park Regent reflects ParkCity and CapitaLand’s commitment to creating differentiated products that suit the needs of customers. Park Regent is by far the most prestigious development that raises the benchmark for residential properties in Desa ParkCity, we have a strong following amongst buyers, and a sought-after address – which is what makes us confident about launching a new development even in a soft property market.”

Prices at Park Regent KL start from RM860,000 and apartment sizes range from 872 square feet for a one-bedroom apartment to 4,887 square feet for a spacious four-bedroom apartment. To date, locals made up about 80% of Park Regent’s homebuyers.

Park Regent is located on a prime parcel in the popular Desa ParkCity township, which was recently accorded the prestigious Gold Winner of FIABCI World Prix d’Excellence Award 2019 under the Master Plan category.

Park Regent is envisioned as a dream home for nature lovers in the city to connect with their families and recharge whilst enjoying the tranquil greenery of its surroundings.

Overlooking a scenic lake, the twin tower residential development is centrally situated within the township, close to dining and retail outlets as well as international schools, making it an ideal address for families and individuals alike. Kuala Lumpur City Centre (KLCC), Petronas Twin Towers and the city’s new business district, Tun Razak Exchange, are a short 25-minute drive away.

Apartment sizes at Park Regent KL range from 872 square feet for a one-bedroom apartment to 4,887 square feet for a spacious four-bedroom apartment.

Designed by Serie+Multiply, a joint venture between London-based Serie Architects and Singapore-based Multiply Architects, Park Regent is envisioned as a dream home for nature lovers in the city to connect with their families and recharge whilst enjoying the tranquil greenery of its surroundings. Facilities such as the Sky Gardens as well as the infinity pool offer residents the best views of the lush greenery. All apartments at Park Regent will come with balconies for quiet respite while the larger three-bedroom and four-bedroom units will also come with private lift lobbies.

Facilities at Park Regent such as the Sky Gardens as well as the infinity pool offer residents the best views of the lush greenery.

CapitaLand’s portfolio in Malaysia spans retail, residential, lodging and business parks. Since year 2000, CapitaLand has completed more than 3,000 residential units in Malaysia across KL Sentral, Mont Kiara, Bukit Pantai, the KLCC district amongst others. In the retail space, CapitaLand has a portfolio of seven malls across three cities in Malaysia. CapitaLand’s wholly owned lodging business, The Ascott Limited, has a network of close to 5,700 lodging units in 24 properties across 11 cities in Malaysia. CapitaLand also operates Nusajaya Tech Park, a 210-hectare industrial park located at Iskandar Puteri, Johor, a five-minute drive from the Malaysia customs at Tuas Second-Link.

Mr Paul Ho, chief mortgage officer at iCompareLoan said, “Malaysia is very open to foreign property investors.” He added, “to buy a property in Kuala Lumpur, such as the Park Regent KL, you must meet certain minimum purchase requirements. But aside from this minimum alongside some paperwork, foreigners are relatively free to buy condos in KL.”

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