Platinum Victory to launch more affordable homes this year

Platinum Victory’s three new launches in 2020 saw up to 90 per cent take-up rate, thanks to positive growth in the second half of the year, says its executive director Gan Yee Hin.

Gan said the high take-up rate generally reflected an uptrend industry-wide, driven by steady demand and supply for affordable housing among first-time house buyers.

The conversion rate combining the take-up of properties from within the three projects was 50 per cent, he said in a statement.

Gan said in view of the current pandemic situation, the conversion rate has been gradual as financiers and lenders had adopted a cautiously optimistic approach and imposed stringent loan criteria for housing loan facilities.

The three projects launched last year are Vista Sentul Residences, Vista Danau Kota Residensi Wilayah, and MH Platinum 2 Residences.

Their combined gross development value (GDV) is RM1.23 billion.

In 2019, the developer launched two projects namely Platinum Arena Residences in Old Klang Road, and PV9 Residences in Setapak, and they are fully sold out.

Gan said the two projects were sold out last year, despite it being a tough market for all developers.

Platinum Arena Residences, with a GDV of RM421 million, is a mixed-development comprising 728 units of serviced apartments, which sold at an average price of RM617 per square ft (psf).

PV9 Residences, with an estimated GDV of RM539 million, comprises 953 units of serviced apartments with built-ups from 1,000 sq ft to 1,300 sq ft. The selling price is from RM530,000.

The project also features 438 units of affordable housing under the Residensi Wilayah scheme (RUMAWIP), selling at RM300,000.

Gan said it is important to roll out property projects that meet the increasing needs and demands of those with a budget but aiming for prime locations within Klang Valley.

“We understand their market needs without compromising on the fundamentals of location, value for money, convenience, and accessibility,” he said.

Up-coming launches

Gan said Platinum Victory will develop more value-for-money and affordable homes in the Klang Valley.

The projects include Vista Saujana, a low-density project with 200 units, and Vista Dedanau, which is set aside as housing for the civil service workforce (Perumahan Penjawat Awam Malaysia – PPAM).

Besides the affordable scheme, the developer will focus on competitively-priced lower density developments this year, such as Platinum Casa Danau.

To further strengthen its position, Platinum Victory is collaborating with Jakel Group to develop J.Satine – a mixed development project in Setapak.

J.Satine will encompass Residensi Wilayah and SoHo residential units, as well as commercial units.

“The market for new homeownership especially among millennials, young families, and new house buyers continues to grow steadily and drive demand for affordable housing here. We want to continue to meet the demand for good quality homes in prime locations,” Gan said.

This year the developer will also unveil The Ark by Platinum Victory, a 12-acre community-based hub in Setapak.

The Ark by Platinum Victory will also feature the Key Moments Office, a centralised key collection centre by Platinum Victory.

Gan said it aims to redefine property handovers, where customers can collect their house keys upon project completion.

Among offerings at The Ark by Platinum Victory include a slew of interior design and home improvement solutions.

Source: NST