More than 70% of units in CapitaLand’s and ParkCity’s JV residential development in Kuala Lumpur sold

SINGAPORE: Park Regent, CapitaLand’s joint venture residential development with Malaysia’s ParkCity Group, achieved strong sales at its priority launch in Kuala Lumpur, Malaysia.

Ronald Tay, CEO of CapitaLand Singapore, Malaysia & Indonesia, Residential & Retail, said: “We are very encouraged by the positive response to Park Regent, which is more than 70% sold. The keen interest from homebuyers attests to the development’s attractive qualities – well-designed homes; excellent location within one of the most coveted neighbourhoods in Malaysia’s capital; and supported by a host of community amenities and green spaces. We are confident that Park Regent will continue to see strong sales interest both locally and internationally.”

Datuk Joseph Lau, Group CEO of ParkCity, said: “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. Park Regent reflects ParkCity and CapitaLand’s commitment to creating differentiated products that suit the needs of customers. Park Regent is by far the most prestigious development that raises the benchmark for residential properties in Desa ParkCity, we have a strong following amongst buyers, and a sought-after address – which is what makes us confident about launching a new development even in a soft property market.”

Prices at Park Regent start from RM860,000 and apartment sizes range from 872 square feet for a one-bedroom apartment to 4,887 square feet for a spacious four-bedroom apartment. To date, locals made up about 80% of Park Regent’s homebuyers.

Designed by Serie+Multiply, a joint venture between London-based Serie Architects and Singapore-based Multiply Architects, Park Regent is envisioned as a dream home for nature lovers in the city to connect with their families and recharge whilst enjoying the tranquil greenery of its surroundings. Facilities such as the Sky Gardens as well as the infinity pool offer residents the best views of the lush greenery. All apartments at Park Regent will come with balconies for quiet respite while the larger three-bedroom and four-bedroom units will also come with private lift lobbies.

CapitaLand’s portfolio in Malaysia spans retail, residential, lodging and business parks. Since year 2000, CapitaLand has completed more than 3,000 residential units in Malaysia across KL Sentral, Mont Kiara, Bukit Pantai, the KLCC district amongst others. In the retail space, CapitaLand has a portfolio of seven malls across three cities in Malaysia. CapitaLand’s wholly owned lodging business, The Ascott Limited, has a network of close to 5,700 lodging units in 24 properties across 11 cities in Malaysia. CapitaLand also operates Nusajaya Tech Park, a 210-hectare industrial park located at Iskandar Puteri, Johor, a five-minute drive from the Malaysia customs at Tuas Second-Link.

Edited by Nayyar Iqbal

About the author

Leave a Reply

Your email address will not be published. Required fields are marked *