Emerging victorious against the odds

10 August, KUALA LUMPUR – Belying the lacklustre outlook of the current residential property market, leading property developer, Platinum Victory is addressing growing demand for competitively-priced modern urban homes within Sentul and Greater Kuala Lumpur.

Riding on this wave, Platinum Victory has officially launched their freehold Vista Sentul apartment suites on 8th August 2020. Prior to this, the project’s soft launch during the Conditional Movement Control Order (CMCO) has already seen a 60% take-up rate.

Gan Yee Hin, Executive Director of Platinum Victory, remarked: “Vista Sentul is highly regarded for its affordability, convenience, and liveability. The project features units with varying built-up areas from 689 to 1,216 square feet, with the price from RM 478 per square foot.”

Vista Sentul’s urban homes give owners a bang for their buck in design and functionality. Built on a 2.38-acre site, the project has a gross development value (GDV) of RM308 million. Due for completion in Q3 2023, the development sits strategically at Sentul’s gateway and connects to hotspots in Kuala Lumpur such as Gombak, Setapak, Jalan Ipoh, Segambut, Mont Kiara and Jalan Duta. The project features eight types of units across two blocks. The first block has 262 units spread over 32 floors, while the second block has 45 floors, housing 443 units.

Another Platinum Victory project which has shown a positive uptake during this period is the recently launched Vista Danau Kota. This project, under Vista Essential Homes, garnered a 70% subscription rate through the government Affordable Housing Scheme (Residensi Wilayah, also known as RUMAWIP), within a mere three weeks of its official launch on 4th July, 2020.

“Overall, the Malaysian residential property industry continues to be resilient. A recent consumer sentiment study by the industry suggests that more than half of renters and almost half of young respondents (22 to 29 years) are undeterred by the current challenges in terms of home ownership and will proceed with property transactions as planned. The encouraging response that we have had validates the view of some analysts who have observed active bookings of rightly positioned residential products of reputable developers in popular suburbs,” Gan commented.

Gan attributed the strong industry uptake to cohesive efforts by the public and private sectors, as well as Malaysians in adhering to Standard Operating Procedures (SOPs), which led to a healthy and thriving ecosystem.

He applauded the concerted effort made by the government, and financial institutions in bringing about relief measures and targeted bank assistance; through initiatives such as the National Economic Recovery Plan (PENJANA) and other stimulus measures.

“These measures make it easier, particularly for first-time house buyers, who have incidentally contributed the most to the market in recent years. The property industry still holds the public’s confidence and buyers’ keen support for new developments amidst the current competitive landscape,” he said.

“This is possible thanks to consistent coverage by the media on property development updates to keep the public informed. This has generated positive response among stakeholders to boost market sentiment. Media professionals are the unsung ‘frontliners’ in keeping Malaysians apprised on the latest developments during this period,” he added.

Gan pointed out that it is timely for potential house-buyers to now tap into the government’s offerings and explore property investment opportunities.

Rolling out details of Vista Sentul, he said that the project offers a selection of facilities and amenities affords a wholesome urban dwelling experience. Some of the exciting recreational facilities include playscape areas for adults and kids, a yoga room and deck, infinity and wading pools, a gym, a playground, a games room, a library, and a BBQ area. Other amenities include a nursery, a kindergarten, disabled toilets, a surau, a multipurpose room, a meeting room, a laundry room, a convenience store and a café.

Seamless connectivity to Vista Sentul assures residents of direct access to major interchanges such as Jalan Sentul, Lebuhraya Duta – Ulu Kelang (DUKE) and Lebuhraya Setiawangsa – Pantai (DUKE 3 – SPE). Iconic landmarks such as KLCC, Pavilion, KL Sentral, Publika and Sogo are just within an 8km radius from the development.

Vista Sentul is nearby hypermarkets, hospitals, various public transportation hubs, academic institutions as well as attractions including the newly-refurbished Taman Tasik Titiwangsa, Sentul Park, KL Performing Arts Centre (KLPAC), Istana Budaya and Balai Seni. Also a stone’s throw away is Platinum Victory’s newly opened 7.4-acre commercial and social hub, The Palette by Platinum Victory offering the best of F&B and shopping options to patrons from all walks of life.

Source: iProperty