CapitaLand’s JV project in Kuala Lumpur over 70% sold during launch weekend

By Timothy Tay

/ EdgeProp Singapore |

July 30, 2019 4:16 PM SGT

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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.

CAPITALAND PARK REGENT - As at 6pm on Sunday 28 July, more than 70% of the development’s total 505 units were sold at an average selling price of RM1,100 per square foot

As at 6pm on Sunday 28 July, more than 70% of the development’s total 505 units were sold at an average selling price of RM1,100 per square foot (Picture: CapitaLand)

Read more about CapitaLand's offshore projects here

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.

“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.”

CAPITALAND PARK REGENT - Artist’s impressions of Park Regent, a 505-unit freehold residential development located in Malaysia’s highly regarded Desa ParkCity township

Artist’s impressions of Park Regent, a 505-unit freehold residential development located in Malaysia’s highly regarded Desa ParkCity township (Picture: CapitaLand)

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.

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