Finally it is out. Wing Tai Asia's long overdue launch of Verticas Residensi in Bukit Ceylon. I've just got an invitation for an "Exclusive Private Preview" this weekend. They have set up a very impressive show room at the site.
The price will be starting at RM2.35 million and goes all the way up to RM6.35 million!! There will be a total 423 units, completing in April 2011. This means the smallest unit which is a 2 bedroom will be above RM2 million. I understand the size starts from 1400sf which means RM1600psf! This is certainly setting a record for KL, not just Bukit Ceylon! Wing Tai Asia's maiden project which is the Meritz is now trading at RM1 million for the smallest units which are just over 1000sf.
I am curious, as well as hopeful how this project will perform because it will certainly set a new benchmark. Even the upcoming One Residency in Bukit Bintang has slid down to RM680psf since the peak expectation of RM800psf. Somerset Seri Bukit Ceylon is hovering around RM850psf. One unit at old Menara Bukit Ceylon transacted at RM320psf last year. So, nothing else will come close to Verticas Residensi in Bukit Ceylon.
The invitation card says "Visit us for an enriching living experience".... certainly need to be very rich to consider this project...
Updated 29th August 09: So, I finally got to visit the show room and learnt more about this project.
This is certainly a very interesting project. There will be 4 towers in total. Tower A being launched now has about 170 units which, at over 40 storeys they have 5 units per floor and 4 lifts serving them. This is kinda low density although the entire project with over 600 units sits on under 1 acre of land. Tower B and D will be launched later while tower C has been sold en bloc to Lanson properties which is running a serviced apartment in Ampang Hilir today.
I am particularly attracted to Type A1 2 bedroom units. This is a 1400sf corner unit which at the right floor has a direct view over Bukit Ceylon and the KL Tower. The main attraction of these unit is the extremely airy and bright rendering with windows in every room. The kitchen has a wet and dry part; hence this is very good for own stay and long term stay. Regency Tower blocks any hope of a KLCC view below the 21st floor. Hence, any units above the 21st floor comes with a premium. But the architect, the same one who designed Meritz doesn't like balconies. So despite the views, one is not able to step out and enjoy it.
However, the developer has come up with a 27th floor viewing deck. But enjoying the view in the intimate company of a loved one is totally out with this well thought common facility.
The price? Starting from around RM760psf or slightly over RM1 million for the smallest 2 bedroom units. The cheaper ones faces the back which means you are looking at Times Square, Pudu Raya and the afternoon sun. But I don't like this unit's layout because one of the bedrooms faces Type A1's kitchen and one bathroom has no natural light. So Type A1 is the way to go...
Anyway, the Type A1 nice layout would have won my money but unfortunately, the downpayment at 20% is a bit steep and too much to tie up for 3 years. This is despite other perks such as free interest during construction and 1st year, no maintenance fees in the 1st year and free 2nd car park.... I am also a little concerned about the landslide issues affecting Bukit Ceylon.