PETALING JAYA (Jan 14): Selangor-based boutique developer Paris Dynasty Land Sdn Bhd plans to launch The Louvre (pictured) in Country Heights, Kajang in May this year.
“Our dream is to establish The Louvre as the new landmark in Kajang. We visualise The Louvre as a place that not only provides residences and conveniences, but is also a hangout spot for locals and for those from nearby areas,” managing director of Paris Dynasty Land Eugene Goh told City & Country.
Sitting on 3.6 acre of freehold land, The Louvre has a gross development value of RM395 million and offers 498 serviced apartments and 30 retail outlets.
The serviced apartments in the 34-storey tower have built-ups of 616 to 3,745 sq ft, and are priced from RM395,000 to RM2.32 million or RM600 psf, while the retail shops are priced between RM499,000 and RM4 million.
According to the developer, the mixed development is slated for completion in 2019.
Goh said The Louvre has so far recorded a take-up rate of about 50%, thanks to the few pre-launches and small events done by the developer ahead of its official launch.
“For The Louvre, we are targeting owner-occupiers, and middle to high-end tenants. I believe we are the first high-rise, mixed development in Country Heights.
“Currently, there aren’t any other such developments in this area,” said Goh.
He added that Paris Dynasty Land has been in talks with a few potential retailers, hypermarts and restaurants, and are “finalising the details”.
“However, the bulk of the retail component [of the development] will most definitely be food and beverage outlets,” added Goh.
This is an excerpt of the report in the Jan 16, 2017 issue of City & Country, the property pullout of The Edge Malaysia.