GREAT INVESTMENT: Image shows an artist’s impression of the finished Jazz Residence @ Pacific Place.
KUCHING: HCK Capital Group’s real estate arm WTWY Real Estate Sdn Bhd (WTWY) held a property road show on its latest project titled Jazz Residence @Pacific Place located at Ara Damansara.
The serviced apartment at Pacific Place is comprised of seven blocks of 15-storey serviced apartments, a 10-storey serviced apartment including 2-storey shops below and a block of SoHo.
Current Block G and Block J consist of 180 units and 174 units respectively with an additional 14 lots of commercial shops below Block J.
The retail mall at Pacific Place (with 350,000sq. ft. net let-able area) features a boulevard street, with 800 feet walkway to host its flea market as well as a dedicated centre stage for events and special activities and it is connected to the LRT Station with just two stations away from Subang Jaya and to Kelana Jaya.
Alex Lim, the head of project marketing for WTWY stated that, “The entire development of Pacific Place is served with about 5,000 parking bays on its four-storey basement parking.
“Its 24-hour security is enhanced with CCTV at strategic areas such as basement car parks, lobby, lift and stairs. It is also to be completed with lush landscaping,” he added.
Pacific Place is strategically located along Japan Lapangan Terbang Subang with good accessibility to highways like NKVE, Federal Highway, KESAS, LDP and Guthrie Corridor Highway.
Furthermore, the current construction of the LRT station and its line has added the development’s advantage.
“The area is a fast-developing vicinity with active developments in Ara Damansara and Saujana enclaves. It is strategic due to its location that borders 2 established CBDs of Kelana Jaya and Subang Jaya,” noted Jefferson Chua, the marketing manager for HCK Capital Sdn Bhd.
The 174 units of Jazz Residence will be tenanted by students of Malaysia’s largest education group, SEGi and each unit has the ability to accommodate six students comfortably with appropriate furnishing catered to their needs.
In terms of investments, Lim Ching Choy, the group chief executive officer of HCK Capital Sdn Bhd explained that this was a good chance for property investors to get a hold of a good investment opportunity while there were still units available.
“The gross development cost (GDV) for the total Pacific Place project is estimated at RM156 million and as for the Jazz Residence itself, after the launching two weeks ago we’ve already sold 90 units from the 174 units of service apartments,” he said.
“For this project we are offering free legal fee for sub sale agreement, free legal fee for loan agreement, free stamp duty for ownership transfer from the developer to the end customer and zero interest loan during the construction period.”
“We have a fully leased back program which has an approximate 18 per cent projected returns at six per cent annually for three years. This means that as you buy the units, we will rent it from you,” Lim explained.
“This is truly a hassle free investment as all you would need to do is issue the initial capital and we will do the rest, from rent collection to renovation etc. Based on the returns and assuming on loan of 90 per cent margin and at 4.2 per cent interest with 30 years tenure, you would see a monthly installment of approximately RM3,200 and a monthly rental collection of approximately RM3,600.”
Lim further added, “in property investment, invest in something that is self generating of income that is equal or more of the cost of installment. This is exactly what i have learnt in my many decades in property investment and this is also exactly what the company is offering to all potential investors.”
The apartments boast facilities such as swimming pools, gymnasium, a multi purpose hall, and 24 hour security.
WTWY sales campaign for Jazz Residence starts at 10am till 6pm from November 3 till November 4. It would also hold investments talks at 11 am and 2.30 pm on both days.