Upping The Ante – Malaysian Property Outlook 2021
Our expert analysis reveals why Stonor 3 and Conlay are worth considering if you’re ready to invest in the Malaysian capital.
To attract would-be investors and homeowners, some Malaysian developers are adopting smart home automation, green features, and clever architectural tactics in new and upcoming projects to facilitate the fresh approach to modern urban living.
There are more completions and launches of high-end condominium and residential projects in Kuala Lumpur which is expected to remain as the sought-after residential location in Malaysia.
According to Knight Frank Research’s Real Estate Highlights 2H2019, the cumulative supply of high-end condominiums and residences stood at 59,358 units as of 2H2019 following the completion of five projects with a total of 2,572 units. Three of the projects are located in the city centre, namely Tower 1 @ Star Residences (557 units), Aria KLCC (598 units) and Stonor 3 (400 units) while Novum Bangsar and Sunway Mont Residences in the city fringe contributed 729 units and 288 units respectively (Fig 1).
In Kuala Lumpur city centre, the pricing for newly launched projects such as Conlay exceeds the RM 2,000 per sq ft (approx. USD 445) (Fig 2).
Conlay is a project by Eastern and Oriental Bhd (E&O) and will be launching in 2Q2020. The project is a joint venture between E&O and Mitsui Fudosan, a real estate developer in Japan. Located on 1.44-acre freehold land at the intersection of Jalan Conlay and Jalan Kia Peng, the development comprises a 52-storey tower of serviced apartments with a total of 491 units. The units will feature one- to two+one-bedroom layouts, with built-up space between 732 to 1,432 sq ft. Prices start from RM 1.5 million (approx. USD 342K).
All homes come with terraces that capture panoramic city views, and fins that are specially designed to shade the sun and help in the reduction of electricity consumption. The project is targeted at both investors and owner-occupiers who are seeking to own a property in the city centre. This new distinguished development features an iconic sleek façade designed by world-renowned Kerry Hill Architects who designed Aman Tokyo, Amanemu in Japan; The Sukhothai in Thailand; Martin No. 38 in Singapore; Aman Delhi in India and The Datai in Langkawi. Read about Kerry Hill’s other posthumous works here. This contemporary, tropical tower will boast a striking architectural form that blends modernity with elegance and luxury. Conlay’s distinctive fine-lined, picture-framed façade is juxtaposed against the city skyline and captures panoramic views of the surroundings.
The facilities will include a library lounge, gymnasium, meeting room, music room, billiard tables, multimedia room, multi-purpose lounge, heated infinity swimming pool, fitness centre, Jacuzzi, yoga, sauna rooms, children’s playroom and games room, to name a few. The project is just a stone throw away from the Conlay MRT Station which provides the convenient linkage to other MRT and LRT lines; allowing a person convenient access to all major amenities around KL, for example, The Petronas Twin Tower, Pavilion Shopping Mall, Tun Razak Exchange Central Business District and many more.
Stonor 3 @ KLCC
Stonor 3 @ KLCC is a freehold luxury serviced apartment located at 3, Lorong Stonor, 50450 Kuala Lumpur. Completed in December 2019, Stonor 3 @ KLCC is the first successfully completed joint-venture project between Tan & Tan Developments Bhd (“Tan & Tan”) and Mitsubishi Jisho Residence Co. Ltd (“MJR”) from Japan.
This 41-storey development comprises 400 homes with five apartment types ranging from one- to three-bedroom units and built-up spaces ranging from 649 to 1,232 sq ft, with price starting from RM 1.1 million (approx. USD 250K). This development boasts Japanese inspired design features with space-efficient interiors. It also features the finest quality finishing and branded appliances from Japan and Europe to enhance the buyer’s living experience, which will surely appeal to both local and international markets. Stonor 3 @ KLCC is the first GreenRE Gold certified residential building completed in this vicinity which indicates that luxury living can be sustainable, reducing its carbon footprint and impact on the environment.
The serviced apartment was designed to face south-east and north-west to avoid direct sunlight on the building. This building orientation reduces the heat gain of the building and helps in achieving thermal comfort. In addition, environmentally friendly and sustainable building materials were also used to construct this development. Stonor 3’s strategic location in the Kuala Lumpur city centre makes it more desirable for prospective buyers. It is just a 10-minute leisurely walk to the KLCC Park and iconic Petronas Twin Towers. It is also situated within walking distance to another forthcoming MRT station.