Developer UM Residences Sdn Bhd, a wholly-owned subsidiary of UM Land Bhd is officially launching its Seri Bukit Ceylon serviced apartment project located in Kuala Lumpur Golden Triangle’s Lorong Ceylon today.
This freehold development with 247 units of serviced apartments housed in a 25-storey block has a lot to offer buyers being right in the heart of the city’s commercial district that is replete with shopping, dining and entertainment outlets all within walking distance.
“For those who work in this area, it would make good sense to buy one of our units as they would only have to leave the comfort of their homes minutes before work begins and can get back in good time to relax before hitting the after-seven life for a relaxing evening,” UM Land chief operating officer Henry Leong said.
These units with built-up areas ranging from 591sq ft to 1,260sq ft are pegged from RM217,880 to RM428,000, which means that if you earn anything from RM4,200 a month, you would be able to afford a unit with a 90 per cent loan repaid over 25 years.
These units with built-up areas ranging from 591sq ft to 1,260sq ft are pegged from RM217,880 to RM428,000, which means that if you earn anything from RM4,200 a month, you would be able to afford a unit with a 90 per cent loan repaid over 25 years.
So far, about 60 per cent of the 119 serviced apartments opened for sale have been snapped up prior to today’s official launch. One of the earliest purchasers is internationally renowned serviced apartment operator Ascot International, which bought 48 units.
In addition to this, Ascot will be managing with UM Residences another 48 units as the Somerset Serviced Residences when the development is ready to begin operations by early 2005. Apart from managing the Somerset Serviced Residences, Ascot will also undertake the management of the entire project with the developer.
As such, buyers who purchase apartments that are part of the Somerset Serviced Residences will have to sign a leaseback agreement that comes with a six per cent rental return guarantee for three years. Buyers of the other non-Somerset units will also have the option to sign up for the leaseback deal.
The apartments are available in one- and two-bedroom types in nine layouts to choose from. To cater to today’s living standards, the units are also equipped with Broadband internet access and are suitably designed for small office-home office set-ups.
“Our target market is made up of young professionals and executives, as well as those who are looking for a smart investment. To cater to this category, the apartments are designed to be generally small, making the entry cost to own such a home right in the heart of the city more affordable. In this area, most of the other highrise dwellings are quite big, about 1,500sq ft with starting prices not less than half a million,” he said.
Leong added that as such, these serviced apartments would be a good investment as owners could expect good rental returns given its location that would appeal to the expatriate market.
“We expect that our 600sq ft units would be able to fetch about RM3,000 in rental while the larger 1,300sq ft apartments can be rented out for RM5,000. However, owners would need to spend some money on fittings and furnishings so that these units can be compared to the Somerset residences.
“Interested buyers can take comfort in the fact that a company such as Ascot has bought units here in Seri Bukit Ceylon, which signifies its confidence in our development,” he added.
The development is also equipped with 24-hour security, a swimming pool, a fully-equipped gym and sauna, children’s playground and a self-service launderette among others. For the upkeep of all these facilities, owners would be charged 25 sen per square foot. Buyers can also opt for the housekeeping services that will be provided.
For more information, call 03-2141 3010.
Source : NST 5/5/2003 |
