Midas Touch
Developer CK East Group is changing the face of urban real estate with its brand of bespoke buildings. Crafted with quality, character and cutting-edge designs, these boutique developments are golden opportunities for a sound investment.
Imagine buying flexible work space built on prime commercial land at a lower-than-average price base, and then renting it out at the premium rates of its location? Or purchasing a home so unique and so in “limited edition” that it commands better resale value by its sheer rarity? What then, would be your return on investment in terms of rental yield and capital gain?
You do the math, but that’s the idea behind the ventures of CK East Group, an emergent developer that has turned a lot of heads in the industry, and won a string of awards in its wake for its refreshing take on property development across Greater Kuala Lumpur.
The company utilises the latest construction methodologies to fashion contemporary homes in urban oases that are ecologically compatible and sustainable.
Not only are its designs out-of-box and totally in-keeping with today’s lifestyle of live-work-play, the boutique developer, known for its highend small creations, also has a penchant for developing on freehold Malay Reserve Land (MRL).
A Niche Market
Asked why this was so, Ng Chong Kiat, managing director of CK East Group, an integrated property development and construction group with two other partners – director Tan Aik Huat and Mohamed Shariff bin Abdul Hamid of subsidiary Minda Muhibah Sdn Bhd, replied: “We are tapping into a niche market. The low entry price of our MRL properties situated on urban hotspots is a great value proposition.
While others may have to pay RM5M for 6,000 sq ft of space in Kuala Lumpur, the privileged few only have to pay RM1M plus. It will translate to greater-than-average price growth for our buyers’ investment.”
“Malay Reserve Land is like a jewel in the forest,” describes Mohamed Shariff, adding to Ng’s explanation of the land’s intrinsic value, “but few developers will build on it because it involves a different approach to those applied to the common market.”
For one, MRL will take a longer time to sell, requiring staying power and special handling on the side of the developer. “But, we have the resources,” says Mohamed Shariff, “we have the experience and we know we can deliver the goods in terms of building value- added properties. All property appreciates, especially on premium locations so this is an exclusive opportunity for Malays to invest in the future. It will enhance their living.”
Launch of a Thousand Ships
Besides, as Ng reminisces, MRL developments hold special meaning for the group. It was an MRL development called Anjung Melati that initiated the partnership of the team and the formation of the development arm of the company back in 2008. And it was this project that launched the company’s “thousand ships” of success.
Anjung Melati is a 29-unit, low-density bungalow development in Taman Anjung Melati, Gombak, which CK East had bought over from the original developer because it was facing buyer confidence issues.
Ng recalls that for a strategically-placed project with great potential, it was priced too low to do justice to its own image. At only RM700,000 for a massive 5+1 bedroom and 6-bathroom unit (the smallest in the range of variants), the deal seemed too good to be true − at least in buyers’ minds. Although there were bookings, the conversion to actual sale did not take place and the project was in trouble.
When Ng was called in, he saw how he could turn it around, and together with his partners, took it over and gave it his Midas makeover. “We raised the ceiling height from 3m to 4.6m, increased window and door heights, enhanced all washroom sanitary fittings, upgraded internal piping and plumbing and changed the roof tiles to upmarket ones for better overall aesthetics.”
The luxurious finish justified the new pricing and even though the bungalows now cost RM500,000 more, buyers were convinced of their value and the project was sold out in 2012.
Malay Reserve Land Developments
Of course, not all of CK East developments are on MRL. Currently only three are, but all were chosen for their address and capacity to appreciate with speed. The three developments are:
• The completed Anjung Melati bungalows • The in-progress Rencana Royale TTDI – a 622-unit freehold, commercial development comprising studio, duplex and corporate suites with full business and leisure facilities as well as retail lots. It is situated on Jalan Dato’ Sulaiman, Taman Tun, 850m from the Penchala Link and 3km to the LDP. Rencana Royale TTDI has won three prestigious awards to date: The international ‘European Quality Award’ for excellence and quality management from the Socrates Committee; ‘Best Hybrid Development 2016’ from Property Insight Prestigious Developer Awards
(PIPDA) and ‘Best Commercial Development 2017’ from iProperty Development Excellence Awards (iDEA).
• The scheduled-to-be-launched-in- early-2018 Residence Anjung Melati 2 in Gombak, Selangor. These are 29 units of three-storey, 20ft by 70ft terrace houses with 6+1 rooms and 5 bathrooms. Possibly the last freehold landed homes that will ever be built in Kuala Lumpur, Residensi Anjung Melati 2, situated nearby to the Anjung Melati bungalows, has the premier advantage of being located just five minutes from the up-and-coming RM55b East Coast Rail Line (ECRL).
Developments on Non- Reserved Land
Of the developments not built on MRL, there are currently two exciting ones with more to come in the future:
• The completed East Utama in Kayu Ara, near Bandar Utama – a gated and guarded residential project of 18 units comprising three-storey terrace houses assembled in two facing-each-other rows ingeniously linked together by an elevated slab on the first floor. The landscaped platform provides a traffic-free Sky Garden for residents to come out for recreation just by walking out from their first- floor patio.
On the third oor are ample rooftop gardens where one could grow plants or do anything with the space while the ground floor, completely covered by the Sky Garden, holds the car porches of the homes.
Seen from afar, the development looks like an apartment block when in actual fact, they are cleverly reinvented terrace houses with additional leisure spaces. Because of its novel design, the project won CK East ‘Best Leisure Living Award 2016’ from PIPDA.
Asked who came up with such a nifty
idea, Ng beams with pride and says he was the one. “I just went with my ‘feel’,” he recalls, explaining that with just 1,322 sq ft of land area to work with, he deliberated over whether to build townhouses (which would sell faster) or go with what he felt compelled to do – and that was to create something totally original yet utilitarian while maximising space without compromising living standards for the residents. The result was East Utama, a project so eye-catching, the city council approved its building plans at record speed according to Ng and 80% of the units were sold out within one month of its launch.
• The upcoming One East @ Damansara in Kayu Ara, Petaling Jaya. Built on 38,000 sq ft of leasehold land near Centrepoint Bandar Utama and scheduled to be launched in the middle of this year, this is a revolutionary 5-storey “cluster” development combining 67 varied-sized units with “villas” on top.
“Of the villas, there will be 18 of them and all will have private swimming pools,” informs Tan, a civil engineer by qualification and the project manager, technical consultant and structural designer of the team. “As a ‘limited edition’ development, this condo combines apartment units with single and double storey villas. The single storey villas will be built on the fifth floor while the double storey ones will be on the ground floor. Residents will have the opportunity to live in homes that mimic landed houses yet enjoy the character of apartment living.”
Trophy On A Goldmine
Leveraging on its TTDI address, commercial development Rencana Royale is primed to win on rental returns and capital appreciation.
Boutique developments are relatively new in Malaysia but they are making waves all the same for their injection of fresh takes on the property scene. Typically small and focused on proposing a “new
way of life” through unique concepts and uncommon designs, boutique developments appeal to the discerning segment of the property market.
Rencana Royale is one such development. Set on a two- acre parcel of freehold Malay reserved land in the affluent neighbourhood of Taman Tun Dr Ismail, the two-tower, 13-storey commercial development of business suites located just across the Penchala Link, offers 622 units of varied sizes made for the business-cum-pleasure co- working environment of today.
A Suite Deal
Developed by Minda Muhibah Sdn Bhd, the subsidiary of award-winning CK East Group, Rencana Royale is a RM380M project comprising an inspired amalgamation of Executive Studio Suites, Executive Duplex Suites, Double-storey Garden Suites, Deluxe Duplex Suites, Deluxe Suites, with the crowning glory of them all on the 13th floor − 16 three and four-storey Corporate Suites in the Sky. With built-ups starting from 4,000-plus sq ft – all of these super ostentatious spaces feature their own private parking bays, private lifts, private gardens and private swimming pools, not to mention a glorious view from the top of the world.
On the ground floor are the retail lots for the necessary shopping therapy, and below this in the basement levels are parking bays for 600- over cars.
Exquisite Built-ups
Rencana Royale has as many as six lobbies. Block A features an imposing lobby with a three- floor high ceiling retail area housing 14 retail lots. Block B, also provided with an equally ostentatious private lobby, houses eight units of two-storey Garden Suites that are allocated with three private parking lots each.
The studio Executive Suites and Executive Duplex Suites also enjoy their own semi private lobbies spread over the two blocks. Block B has a separate entrance from Block A to diffuse the traf c to their individual blocks, thus preventing bottlenecks at entrance and exit points.
Spread of Facilities
As Rencana Royale is built to embody the contemporary work culture of today, the addition of facilities is a must. There are 24 leisure and corporate facilities on the 12th oor of Block B and they include an infinity pool, three meeting rooms of various sizes, a multipurpose hall large enough to hold 15 to 35 people, a conference room or cinema for 100 people, a two- floor gymnasium, spa, jacuzzi, a sky bridge for easy access to and from Block A and many more.
Network of Connections
As one can see, Rencana Royale is thoughtfully appointed with all the right elements to facilitate an ultra-modern, chic and happening, dream working environment.
Located on Jalan Datuk Sulaiman in TTDI, the development is a mere 850m from Penchala link, 800m to the commercial heart of TTDI where F&B outlets conglomerate and about 3km to One Utama Shopping Complex.
The rest of the shopping centres such as Ikea, The Curve, Tesco, Publika Mont Kiara, KBU College, Hartamas Shopping Centre, Sunway Giza Mall, Mid Valley, KL Sentral, Pavilion and KLCC are all within a three to 15km radius.
Additionally Rencana Royale is served by four major highways − the LDP, SPRINT, NKVE and DUKE, as well as a network of main roads and two MRT stations – one in Bandar Utama and the other in Taman Tun Dr Ismail itself.
A Lucrative Investment
That Rencana Royale promises hearty capital appreciation is probably a given since it enjoys the gilded edge of being situated on a very central and notable address. But perhaps its most attractive value is that its asking price is being offered at 30% lower per sq ft than those of surrounding non-reserved properties.
Selling at RM600-plus per sq ft (compared to RM1,000-plus per sq ft of neighbouring properties) with the smallest unit of 472 sq ft going from just RM282,000 onwards, the units are a steal. Availing a very special platform for Malays to not just invest, it also proposes a chance to earn passive rental income (at market rate) for years to come. Tenancy of a unit is open to everybody. For those considering investing for rental returns, there is a Tenancy Programme available from the developer.
The development is slated to be completed by 2020.
Windows of opportunity do not open very often and Rencana Royale, being a boutique development, is limited in units, rare in creation and not likely ever to be repeated or duplicated again.
To secure yourself a unit, call: 603-7722-1688
