BRISK: 72 units sold during preview with more expected this weekend
Johor-based KSL Holdings Berhad is set to solidify its presence in the Klang Valley by launching Canary Garden @ Bandar Bestari, a 52-acre French-inspired garden by the Blackwater River in Klang. Bandar Bestari, which has an expected Gross Development Value (GDV) of RM3 billion is KSL’s maiden project in the Klang Valley, in addition to its 50-unit luxurious condo development in Jalan Madge, Ampang Hilir.
Commenting on the township, Chris Fong, KSL’s Head of Sales & Marketing said that Bandar Bestari is now the company’s ‘jewel’. “We hope to establish ourselves in Klang Valley with this flagship project and eventually become one of the top 10 developers in the nation.”
“The time was right for a new challenge,” Chris said, adding that the company had conducted years of market research before deciding to embark on this venture. “We did our homework thoroughly and studied the property market in various potential locations within the Klang Valley. Our research showed that property prices in the Klang area had appreciated tremendously, especially over the last few years. So when we were approached to develop this project, we seized the opportunity right away.”
Its successful entry into the Klang market means that KSL’s reach is poised to widen even further. “We hope the Canary Garden project will establish the KSL brand outside of Johor Bahru, especially in the Klang Valley,” added Chris.
“We have developed a long-term plan to facilitate the company’s expansion. Our strategy is to acquire at least one landbank a year in the Klang Valley to grow our business.”
During its preview in May, the public-listed company saw 72 units of its first phase semi-dee and semi-dee link homes snapped up. “We have had strong response from the public. Around 60 per cent of our buyers are from the Klang catchment area. They include investors, upgraders and first-time buyers,” said Chris. “Although the government has tightened its loan policies, it hasn’t really affected investors who see value and will eventually find a way to secure financing.”
The official launch of Canary Garden will be held tomorrow and Sunday.
The vast 446-acre township in Klang will comprise premier residential, commercial and retail development landscaped with a French-inspired garden, lakes and waterways by the Blackwater River which flows to the Straits of Malacca.
Apart from its strategic location, Canary Garden will also have KSL City 2, another version of KSL City Mall, reputedly the biggest shopping mall in Johor Bahru. This project is targeted to complete by 2014.
According to reports, KSL City Mall is 85 per cent occupied while the 868-room KSL Resort is 70 percent complete. KSL is said to be eyeing more land, in addition to its 800 hectares of undeveloped land.