PETALING JAYA (Jan 28): O&C Resources Bhd is looking to launch Isola KLCC at Jalan Yap Kwan Seng in Kuala Lumpur by the first quarter of 2017.
Sitting on a 14,000 sq ft freehold site, Isola KLCC is a RM206 million project with 140 serviced residence units. Each unit will have one to three bedrooms and built-ups of between 635 sq ft and 1,625 sq ft.
“The indicative price is RM1,100 psf to RM1,600 psf and we have yet to decide on the maintenance fee.
“Each unit will have at least one parking bay. Our target market is local and foreign buyers looking for an address in KL, professionals and working adults. The units will be partially furnished,” said O&C Resources managing director Billy Ong in a City & Country report dated Jan 30, 2017.
Facilities of Isola KLCC include party suite, sky pavilion deck, outdoor screening area, yoga deck, indoor gym and an 11m sky swimming pool.
Ong believes that there is still demand in the KLCC area despite the current slow market.
“The property market has its ups and downs. The KLCC area is mainly targeting foreigners… when you compare our prices with similar products in the area, ours are definitely more attractive. We think that there are still opportunities,” he said.
“The Melaka project will comprise apartments and a hotel. We are seeking approvals for the Kuantan and Melaka projects.
“The Kuantan project is scheduled to be launched in the middle of the year and the Melaka project, by the third quarter,” added Ong.
Currently the developer’s landbank stands at 23 acres, which will keep the company busy for three to four years.