Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen with operations in Asia. The question is: can property developers create a scenario that allows global business leaders to decide on investing in “the now and the future” of this part of the world?
Since the emergence of the “Global Citizen”, one key element has remained imperative for those building an empire. Most cities, and developers for that matter, tend to focus on the “Lifestyle” elements; yet it is the access to world-class education that global citizens require for their children that is the ultimate tipping point.
Bringing these concepts and elements together, KSK Land who are the developers of the much talked about 8 Conlay, comes forth as one of the developers that are able to create that scenario for global business leaders who want to invest in the now and the future in Kuala Lumpur.
KSK Land’s maiden property not only has a strategic location in terms of lifestyle within Kuala Lumpur’s Golden Triangle, but they are also a stone’s throw away from the the International School of Kuala Lumpur (ISKL), which boasts a brand new 15-acre campus that is second to none in ASEAN.
The recent announcement that KSK Land achieved a new record when they sold the sole penthouse unit in the 8 Conlay development for RM30 million should be seen as the starting point for further investors, local or foreign to take a position in the post-pandemic growth story that is Kuala Lumpur.
The excited foreign buyer of the 65th floor penthouse of the Kempinski hotel tower was said to have decided on the 8,742 square-foot residence as it offers stellar 360-degree view of the city, Kempinski hotel services and strategic location in central Kuala Lumpur.
Joanne Kua, CEO of KSK Group and Managing Director of KSK Land said, “We are now seeing an uptick of market interest in ultra-luxury Malaysian properties such as YOO8, from buyers at home and abroad. Locally, we’ve recorded a 10 per cent growth in local buyers shifting the ratio from 30 per cent to 40 per cent in the past few years. This has been driven by disruption in international markets resulting in high net-worth individuals looking at Malaysia’s property market as a safe haven.”
“YOO8 at 8 Conlay continues to appeal to investors who are keen to diversify their investment portfolio with branded residences, for the project’s high built quality, integrated luxury lifestyle services and amenities and premium property management honed by Kempinski, which will ensure YOO8’s steady capital appreciation. Adding to that, its central location with hyperlocal connectivity to the city’s commercial and tourism landmarks,” continued Kua.
Recently, KSK Land also announced the structural completion of Tower B of 8 Conlay’s twin branded residence, YOO8 serviced by Kempinski (YOO8). To commemorate the milestone, a unique photo series titled ‘Height of Anticipation’ featuring panoramic views of Kuala Lumpur iconic landmarks was undertaken, set in two actual units from one of Tower B’s top floors. The stylish photo series marks a moment of celebration – both the steady progress of 8 Conlay, as well as more symbolically, the city of Kuala Lumpur as an emerging metropolis.
KSK Land is expecting the completion of YOO8 Tower A by early 2023 and subsequently, YOO8 Tower B by the end of 2023. This will be followed by the completion of the retail podium, expected within the first half of 2023 while the 8 Conlay Kempinski Hotel is expecting completion within the first half of 2024. To date, the twin branded residence towers have achieved a sold gross development value (GDV) of over RM1.56 billion (~USD355m) with YOO8 Tower A at an 80 per cent take-up rate while Tower B at 40 per cent.
The show units for YOO8 Tower B designed by Kelly Hoppen for YOO are available for viewing at the 8 Conlay Sales Gallery located in Bangunan KSK, Jalan Yap Ah Shak, Kuala Lumpur.
Source: KSK Land