KUALA LUMPUR: KSK Land Sdn Bhd, a subsidiary of KSK Group Bhd, has celebrated the structural completion of the Tower B of the YOO8 serviced by Kempinski branded residences at 8 Conlay.
The company also announced that it had secured a buyer for 8 Conlay's sole penthouse unit at a price of RM30 million.
KSK group chief executive officer and KSK Land managing director Joanne Kua said following the structural completion of YOO8 Tower A late last year, 8 Conlay continued to progress steadily.
"We have now topped out and completed the structure of YOO8 Tower B.
"We wanted to celebrate the structural completion differently by stirring the imagination and to present a glimpse of Kuala Lumpur as you have not seen it – from over 800 feet above the ground.
"Our owners appreciate the finer things in life and we wanted to iterate that by featuring the origami bathtub – Kelly Hoppen's signature piece in collaboration with luxury Australian bathware brand, apaiser – amid a stunning million-dollar view," Kua said in a statement.
On the sole penthouse unit erched on the 65th floor of the Kempinski hotel tower, the excited buyer was said to have decided on the 8,742 square-foot residence as it offered stellar 360-degree view of the city, Kempinski hotel services and strategic location in central Kuala Lumpur.
Kua said the company was 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," she said.
Meanwhile, Kua said the demand for branded residences in Asia remained resilient despite events in recent years.
KSK Land expects this to continue to gain traction as the world reopens its doors to international travel.
"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.
KSK Land expects 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 gross development value of over RM1.56 billion with YOO8 Tower A at an 80 per cent take-up rate while Tower B at 40 per cent