CHINA-BASED builder Country Garden Holdings Co Ltd and Malaysian developer Perdana ParkCity Sdn Bhd will build nine residential and commercial phases in Lake [email protected] North in Kuala Lumpur.
Through a joint-venture company, they will take about 10 years to fully develop the 32.4-hectare project next to Taman Wahyu in Kampung Batu, off Jalan Kuching.
While the market is wondering how they are going to sell several blocks of apartments considering the current stock available in the Taman Wahyu neighbourhood and the slow take-up for new launches, Country Garden is banking on the HOPSCA concept to sell.
HOPSCA refers to “Hotel, Office, Park, Shopping Mall, Connectivity and Apartments” and it is the buzzword used by China developers for large-scale mixed-use commercial urban developments.
Country Garden Malaysia brand and culture director Emma Han said Lake City would stand out and appeal to buyers as the offices and apartments are developed around a 26.7ha lake.
Han said the design of Lake City’s residences focuses on the windmill concept.
“The windmill concept does not only provide a wider and better view for residents, but also avoid the units from facing each other... Everyone living in Lake City will have a good view of the outdoors,” she told NST Property.
Hans also said there are three communal zones, six lifestyle scenes, a Lake Club, a Smart Community app and community areas in Lake City — other unique selling points for the development.
The community areas emphasise on a “botanic living” by providing facilities such as outdoor WiFi connections, charging stations, mosquito repellent lights, temporary lockers and automated laundry services.
“When we build, there are several factors we look at like natural surroundings, lifestyle offering, connectivity and building concept. Sitting on 80 acres (32.4ha) of prime land, Lake City is set to create an ideal habitat model and addresses the needs of homeowners looking for interconnectivity to the city centre, and the project’s surrounding areas. Lake City may not be located in the city centre but the journey there will take about 15 minutes,” said Han.
Lake City is easily accessible via the Duta-Ulu Kelang Expressway, the Middle Ring Road 2, Jalan Kepong and Jalan Ipoh.
The upcoming Metro Prima MRT2 Station, scheduled for operation in 2021, is about 3.5km from the project while the Taman Wahyu KTM station is situated less than 5km away.
A major attraction in the area is the Kepong Metropolitan Lake Garden recreational park, which is just 7km away from the development.
POSITIVE TAKE-UP FOR FIRST PHASE
While Lake City has not been officially launched, units for the first phase, Aradia, are open for pre-booking.
Aradia, to be developed over 1.8ha, comprises three 43-storey blocks with a total of 1,003 apartment units and 23 commercial lots.
The price tag for the apartment units is around RM700 per sq ft (psf), said Han, adding that it is the current market rate.
She said more than 550 queue numbers have been given out to-date for Aradia.
“About 400 queue number were snapped up in only two days after the official opening of the sales gallery on Sept 1. The deposit required to make a pre-booking is RM2,000,” she said, adding that early birds get exclusive benefit for pre-bookings.
Han said successful pre-bookings are estimated to be converted into legal sales and purchase agreements in October.
Aradia has an estimated gross development value of RM700 million. The project is expected to be completed in 2023.
There will be six units to choose from, with built-ups ranging from 567 sq ft (one-bedroom units) to 1,687 sq ft (dual-key four-bedroom units).
There are also two-bedroom units of about 770 sq ft and three-bedroom units with built-ups from 943 to 1,140 sq ft.
The units will be partially furnished, said Han.