Investors step up demand for branded residences in Southeast Asia

There are only about 120 branded residences in the Asia-Pacific region, and demand for properties in this niche is increasing among luxury property buyers who view them as a step up from typical luxury properties on the market, says Joanne Kua, managing director of KSK Land. The Malaysian developer is behind 8 Conlay in Kuala Lumpur, one of the newest branded residences in Southeast Asia.
Located within the prime Kuala Lumpur City Centre (KLCC), 8 Conlay by KSK Land is an integrated development with a nine-storey retail podium, two high-rise residential towers (Towers A and B) containing 1,062 apartments and a hotel tower branded Kempinski Hotel Kuala Lumpur.
8 Conlay by KSK Land comprises a Kempinski serviced branded residence, and the first Kempinski Hotel in Kuala Lumpur (Picture: KSK Land)
The residential towers will feature branded residences called “YOO8 serviced by Kempinski”, with interiors in Tower A designed by Hong Kong-based designer Steve Leung, while those in Tower B are designed by UK-based interior designer Kelly Hoppen for YOO. The firm YOO is in turn a partnership between international property developer John Hitchcox and designer Philippe Starck.
The first residential tower (Tower A) at 8 Conlay was launched in early 2016, and more than 75% of the 564 units has been sold. The remaining units in the tower have been set aside for “bumiputra” homeowners. The second residential tower (Tower B) comprising 498 units was launched for sale last September and is 30% sold. The entire development is expected to be completed by the end of next year.

Affordability, product differentiation

Close to 25% of the buyers are Malaysians, with buyers from China, Hong Kong, Japan, and Singapore making up the majority of the foreign buyers, says Kua. Buyers of branded residences are buying into the service and luxury lifestyle associated with the brand; for instance, Kempinski, which reflects old-world glamour, she adds.
Compared to prices of branded residences in Singapore and Bangkok, most buyers feel that those in Kuala Lumpur are the most affordable now, says Joanne Kua, managing director of KSK Land (Picture: Samuel Isaac Chua/EdgeProp Singapore)
At 8 Conlay, the residences comprise one- to three-bedroom...