Sunday, June 29, 2008

Going to be launched in Bukit Ceylon

pics above: Land clearing at Bukit Ceylon for the UMLand-MMC JV project

Update 7th July 08 - UMLand has announced that their Bukit Ceylon project will be launched towards the end of this year. They have not yet concluded the costing as negotiations are still under way with the contractors.
Right at my doorsteps, the long anticipated launch of 2 new properties - along Jalan Ceylon by Wingtai Asia and the corner of Persiaran Raja Chulan and Jalan Ceylon by the UMland-MMC JV.
pic above: The WingTai Asia construction site
Wingtai Asia, the developer of the Meritz opposite KLCC also has some of the region's top notch properties under its brand. They have been setting up their show room ever since last year with anticipation to launch last October but the dates kept on being postponed. A few teasers been released in the press with some indication that it is not going to be anything less than RM1000psf. This will break Bukit Ceylon's record as currently, the best performer which is Seri Bukit Ceylon (by UMLand/Capitaland JV) is only hovering just under RM900psf in the subsale market. I would say RM1k is quite possible if Wingtai Asia is going to put in better quality materials and finishings, compared with UMland's school toilet tiles in Seri Bukit Ceylon.

Location wise, the UMland-MMC JV would do better, being situated at the corner. I believe Wingtai's plot, although bigger will pose a huge traffic problem in the future as Jalan Ceylon is very narrow. With over 1000 units promised by Wingtai Asia on their plot, it will be a squeeze to get out of the building. However, I regret UMland-MMC JV had to clear a huge part of Bukit Ceylon for this project. Not so nice for the environment.

Both these projects are situated on an exclusive part of Bukit Ceylon. The quieter end which is also home to the Sultan of Pahang. It is less than 1km walk to Pudu Raya and the Masjid Jamek Star and Putra LRT stations. Regency Towers which is beside the Wingtai Asia plot almost always enjoys 100% occupancy.

With the recent increase of oil prices and the uncertain economic future, I am also curious how these 2 projects will perform when they are launched. There has been some news in the market that Wingtai Asia may consider build then sell if the economy is not good. They certainly have the cash to do this and it may turn out to be a wise move as within 3 years time, we would almost certainly risen out of any economic slowdown. The trend for property prices in KL have always been higher after recovery from an economic crash.

Meanwhile, I have registered for both launches and waiting for their announcements. Whatever the situation may be, I would like to grab at least 1 unit from either development facing East as I believe these would be hugely popular with the morning sun and KLCC/KL tower view. Even if the economy is going to the dogs for the next couple of years, it would be a very nice place for own stay...

1 comment:

Anonymous said...

Following the recent disaster at Bkt Antarabangsa and the stop work order on a development in Bukit Ceylon will pose challenges on buyers confidence on hillside developments. Interesting times.....