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发表于 23-10-2014 03:06 PM
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http://www.starproperty.my/index ... est-golden-address/
KL’s latest golden address
Posted on October 20, 2014 | 450 views | Topic : Investment.
Developer announces luxury mixed-use development
BY YVONNE YOONG
yvonneyoong@thestar.com.my
IT’S official. The definition of luxury has just been raised with the unveiling of the 8 Conlay development in Kuala Lumpur recently.
The project is KSK Land Sdn Bhd’s newly minted mixed-use development comprising two branded residential towers of 55-storey and 60-storey blocks connected via two sky bridges, complemented by a 62-storey five-star hotel and a retail component in the heart of Kuala Lumpur’s bustling Golden Triangle.
Scheduled for completion in 2018, the 1,092 residential units will feature built-up sizes ranging between 650sq ft and1,300sq ft while the hotel is expected to be finished in 2020.
8 Conlay, with a gross development value (GDV) of RM4bil, owes its name to its auspicious address.
The development commands an average price of RM2,700 per sq ft — with the subsequent phases expected to exceed RM3,000 per sq ft.
This maiden venture by the wholly owned property subsidiary of investment holding company, KSK Group Bhd, formerly known as Kurnia Asia Bhd, made the headlines last year when it purchased the 3.952 acres (1.599 ha) of freehold land on Jalan Conlay for RM568mil.
Following the land acquisition, many have been anticipating the details of the actual development itself.
Seen here is the YOO designed Atria Dubai. All of its 220 units sold out in five hours.
Seen here is the YOO designed Atria Dubai. All of its 220 units sold out in five hours.
The long wait is over as KSK Land managing director Joanne Kua released details concerning 8 Conlay last Wednesday at the group’s headquarters in Jalan Yap Ah Shak, Kuala Lumpur.
Kua announced the appointment of international design studio YOO (pronounced as “You”) as its newest brand partner for Phase 1 of the high-rise branded residences at 8 Conlay.
“Just like the finest branded developments worldwide, we have our partners. Steve Leung & YOO will design Tower A’s residences and amenities.
“Tower B’s designer and the five-star luxury hotel operator will be announced later,” said Kua who is also KSK Group Bhd’s group chief executive officer.
She added that because branded residences are in their infancy in Malaysia, 8 Conlay would usher in “quality and liveability” that Malaysia has yet to see”.
Crown jewels
YOO, having designed branded residences since 1999, has a penchant for working with high-profile designers including Philippe Starck, Marcel Wanders, Jade Jagger and celebrated designers to the stars, Kelly Hoppen.
Likewise, the collaboration between YOO and prolific Hong Kong-based designer Steve Leung is deemed the right fit for 8 Conlay. Leung and YOO will unleash their creativity on the interiors and common areas of the serviced residences.
YOO residence in Hong Kong broke the record for the highest price per sq ft for a one-bedroom unit when it was launched.
YOO residence in Hong Kong broke the record for the highest price per sq ft for a one-bedroom unit when it was launched.
YOO managing director for Asia Pacific Andrew Pang praised Leung’s unique minimalist style infused with Asian culture.
“The 144-units of YOO Residence in Hong Kong was our first collaboration with Yeung, launched at a time when the Hong Kong government was implementing strong cooling measures to the property market, such as an increase in stamp duty and reducing the borrowing percentage to only 50%.
“Yet, we still managed to achieve an average of HK$34,000 (RM14,368) per sq ft overall, and a record breaking HK$43,000 per sq ft — the highest price for a high floor, one-bedroom unit — besides winning several awards. Thus, the premium achieved for YOO Residence in Hong Kong was a staggering 26% to 42%,” said Pang.
(From Left) Pang and Leung of the YOO design consultancy with Kua of KSK Land.
(From Left) Pang and Leung of the YOO design consultancy with Kua of KSK Land.
In comparison, he said that within a minute’s stroll from the development is a similar non-branded project called The Warren, developed by Wing Tai Properties Ltd which was launched shortly before YOO Residence, in better market conditions. However, the overall price achieved for the Warren was only HK$24,000 to RMHK$27,000 per sq ft.
Leung commended the design philosophy reflected in the architecture of 8 Conlay undertaken by RSP Architects KL Sdn Bhd’s Hud Abu Bakar, with the form of the towers conceptualised like the Chinese numerical character “8” to reflect the project’s auspicious address.
“The architecture looks unique but at the same time, is rational and has the quality of an iconic building,” he said adding that he always considers the relationship between humans and nature, man and culture, and how people feel in his designs succinctly defined as “liveable architecture”.
Kua shared that the vision is to establish the design from the “outside in” and “inside out” based on the end user’s perspective.
“Everything is always tailormade to what the market and local culture requires while coming up with something that is unique in the end. We think local and global, and we all share the same vision and philosophy,” she said.
The YOO Montreal, inspired by Philippe Starck, saw 45% of its total 96 units sold in 72 hours.
The YOO Montreal, inspired by Philippe Starck, saw 45% of its total 96 units sold in 72 hours.
Already, Kua has gotten everyone on board early enough to understand the whole philosophy of 8 Conlay to create “a liveable, seamless design experience”.
Adding value
YOO, founded by property entrepreneur John Hitchcox and famous designer Philippe Starck, has undertaken designs for 76 projects in 53 cities spanning 33 countries.
Among them was its first YOO residential development in New York City which saw 90% of its 326 units sold within seven days of its launch. YOO Montreal inspired by Starck saw 45% of its total 96 units sold in 72 hours.
Meanwhile, Atria Dubai’s 220 apartments located in Dubai’s Business Bay was sold out in five hours. The company’s flair for working with its development partners to help them create a competitive premium property, has not gone unnoticed by property adviser Knight Frank as detailed in its “Branded Developments: The impact of branding on luxury residential developments” report in 2012 in which it profiled the impact of branding on values.
Branded residences, it said, place an emphasis on services and facilities for the wealthy but time-strapped individuals, luxury-hotel level facilities and services within a residential property enhanced by architecture and design.
An artist’s impression of the 8 Conlay development comprising two tower blocks linked by two sky bridges and a five-star hotel.
An artist’s impression of the 8 Conlay development comprising two tower blocks linked by two sky bridges and a five-star hotel.
The report concluded that branded residences command an average of 31% more in value globally, compared to equivalent non-branded schemes, reaching over a 50% premium in some locations. The report points to the “emerging world” as the main centres for the generation of new wealth.
Kua points out that branded residences where developers team up with celebrated designers, international luxury hospitality, and lifestyle brands are an emerging trend in luxury housing. She remains optimistic about the timing of the launch next March, believing that there is a niche market for branded residences here that will override the generally cautious sentiment of the wider property market.
“Branded residences are a level above five-star luxury. They have an element of architecture, and one big element that people forget, is the element of design.
“If you’re buying into something like 8 Conlay, you want to buy to keep, as it feels like a collectible item, even from an investor’s perspective, so you can appreciate that the investment value will go up,” she opined.
She believes that 8 Conlay’s asking price is among the most affordable in the branded-residences segment. “KL is still more affordable and we are not only selling to Malaysians, but people globally.”
Undeniably, it’s a winning design combination that’s hard to beat.
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