Property developer Mah Sing Group Bhd will be launching another development this weekend with the unveiling of Lakeville Residence.
The developer says the project, located in the Jalan Ipoh area of Kuala Lumpur, has a gross development value (GDV) of RM1.15bil and will be completed within the next three years.
Group chief executive Ng Chai Yong said the new project will feature the same signature quality and efficiency that Mah Sing has become known for.
"Lakeville Residence is an secure, exclusive community, located minutes away from from the city with great accessibility," said Ng.
"Residents will enjoy some of the best lakeside views plus a host of condo amenities for their leisure. Lakeville Residence is definitely KL's next best lakeside address," he added.
He says Lakeville Residence sets itself apart from other developments by giving its residents 38 points of view which is divided into 10 zones that include a relaxing view, a tranquil view, an invigorating view, and an endless view among others.
Ng (left) and Lakeville Residence project manager Yeoh Chee Beng with a model of the Lakeville Residences
project.
Lakeville Residence sits on 12.38 acres and will feature a 3.11 acre podium of greenery, providing green lung for the high-rise development.
"We want to give our residents the best possible surroundings," said Ng.
With a total of six towers, Lakeville Residence will have approximately 1,898 units once completed. The first phase of the project will feature Tower A and Tower B, with 295 units and 327 units respectively.
The group will also be spending RM3.6mil on beautifying the surrounding areas of Lakeville Residence. The development will also be part of KL City Hall's River of Life project which centres on the cleaning, beautification, and development of the rivers in Kuala Lumpur.
"Mah Sing has great experience in green development — The group received the Malaysia GreenTech Developer Award for 2013. Our Icon City project was also named Best Infrastructure Redevelopment at the Property Press Awards last year," said Ng.
Mah Sing Group was also recently named the Most Profitable Company with Highest Return on Equity Over Three Years in the Property and REIT Sector at The Edge Billion Ringgit Club and Corporate Awards.
An rendering of the development, which is located next to a lake.
According to the award's criteria, "Mah Sing Group was named the Most Profitable Company with Highest Return on Equity based on it high weighted return on equity over three years. This is after the exceptional items that are material and deemed unrelated to normal operations are adjusted. The winner of this category must not have suffered a loss throughout the evaluation period."
Currently the group has 44 projects spread throughout Malaysia's property hotspots such as Kuala Lumpur and the Klang Valley, Johor Baru (Iskandar Malaysia) and Penang (Northern Corridor Economic Region) and Kota Kinabalu.
Those interested in Lakeville Residence can visit Mah Sing Group's official launch on Aug 17 at the siteof the development. For more information, go to lakeville-residence.com.my.
Source : http://www.thestar.com.my/Business/SME/2014/08/15/Lakeside-living-in-the-city-Developer-set-to-launch-latest-offering-in-Kuala-Lumpur
