CapitaLand’s joint-venture residential development with Malaysia’s ParkCity Group in Kuala Lumpur has achieved strong sales during its priority sales launch over the weekend of July 27 and 28. The 505-unit development, called Park Regent, saw more than 353 units (70%) sold at an average selling price of RM 1,100 ($365) psf.

Park Regent is in the Desa ParkCity township in Kuala Lumpur, and comprises six apartment types of one- to four-bedroom units. Prices start from RM 860,000, and units range from 872 sq ft for a one-bedder, to 4,887 sq ft for a four-bedder. About 80% of buyers are Malaysians.

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The keen interest from homebuyers stems from the development’s attractive attributes, including well-designed homes, excellent location in a coveted neighbourhood, and its host of community amenities and green spaces, says Ronald Tay, CEO of CapitaLand Singapore, Malaysia & Indonesia, residential and retail.

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“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,” says Joseph Lau, group CEO of ParkCity. “Park Regent reflects ParkCity and CapitaLand’s commitment to creating differentiated products that suit the needs of customers.”

Park Regent comprises twin residential blocks that overlook a lake, and is centrally located within the township and close to dining and retail outlets and international schools. The Kuala Lumpur City Centre, Petronas Towers, and the city’s new business district Tun Razak Exchange are a 25-minute drive away.

The development is expected to be completed in 2023.

Read also about property market in Malaysia:

• Lofty living at Southeast Asia’s tallest towers
• Malaysian govt looking into hiking minimum property prices for foreigners
• Worst year for Malaysia's construction companies in a decade

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