The supply of luxury real estate in Malaysia is, in a word, bountiful.
Global research firm Oxford Business Group estimates that Kuala Lumpur will have an excess of approximately 50,000 high-end condominium units by July 2017. And while demand for such properties has faltered over the last few years, all signs point to the early phases of growth.
"There’s no lack of demand for very high-end branded properties," said Oxford Business Group Asia’s managing editor, Paulius Kuncinas. "Big international brand names and serviced residences are popular because … the ringgit is quite cheap, so you’ve got that natural pull."
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Some top-end offerings, like the Four Seasons Place Residences, set to open at the beginning of 2018, have reportedly sold at record-high prices, including a duplex for an estimated MYR 21 million (US$4.84 million), or MYR 3,300 (US$761) per square foot, according to edgeproperty.com
Here’s a look at some of Malaysia’s most anticipated developments.
YOO8 serviced by Kempinski, Kuala Lumpur
YOO8 is the residential component of 8 Conlay, a four-acre, three-tower, mixed-use development in Kuala Lumpur’s city center. The plans for 1,062 branded, serviced residences span two towers 57 and 62 stories, built to resemble the Chinese character for "eight"—are connected by sky bridges on levels 26 and 44. As the name evokes, the interiors for Tower A are designed by award-winning designer Steve Yeung and YOO, a pioneering hospitality studio founded by Philippe Starck and John Hitchcox.
Units come with custom-designed furniture and fittings, and can be furnished down to the Diptyque candles and Aesop hand soaps.
Bespoke concierge services and impeccable housekeeping and other a la carte services will be provided by Kempinski, Europe’s oldest five-star luxury hotel group. Developer Damai City also enlisted the services of RSP Architects, a renowned local firm, and TROP, a Bangkok-based landscape design company.
8 Conlay’s third tower will house Malaysia’s first Kempinski Hotel (at 73 floors, the city’s tallest) along with an upscale four-story "retail emporium" that connects the towers. Expected opening date is 2020, though 70% of the Tower A units reportedly have been reserved—and 80% by locals. Details for Tower B’s design will be announced in the latter half of 2017.
Number of units: 1,062 (564 in Tower A, 498 in Tower B) Price range: MYR 2.24 million (US$517,000) to MYR 4.19 million (US$1. million) Developer/Architect: Damai City (project by KSK Group)/RSP Architects Apartment sizes: One to three bedrooms, ranging from 700 square feet to 1,308 square feet Amenities: 25-meter lap pool with cabanas and a Jacuzzi, gym, yoga deck, barbecue area, playground, library, lounge, private decks, rooftop garden with jogging track Website
Four Seasons Place Residences, Kuala Lumpur
The Four Seasons strengthens its presence in Southeast Asia with a second project in Malaysia, this one in Kuala Lumpur next to the iconic Petronas Twin Towers—and at 65 floors, it’s nearly as tall. The 242 private residences are located on the skyscraper’s mid- and upper-level floors, above a 280,000-square-foot shopping mall and Four Seasons Resort.
Units feature living areas with high ceilings and glass walls that open out to spacious terraces with panoramic views of the city, along with exquisitely appointed designer kitchens and bedrooms. The five-bedroom duplexes have their own swimming pools, and residents can easily access the esplanade of KLCC Park and its 50 acres of green space.
The mixed-use project is being developed by Venus Assets, whose principals include Singapore business tycoon Ong Beng Seng and the Sultan of Selangor, Sharafuddin Idris Shah. Set to open in early 2018, more than 70% of units have been sold.
Number of units: 242 Price range: MYR 6.3 million (US$1.5 million) to MYR 12 million (US$2.8 million) per square foot. Developer: Venus Assets Apartment sizes: One to five bedrooms, ranging from 1098 square feet to 7,039 square feet Amenities: 25-meter rooftop pool, rooftop lounge, fitness center, spa, private dining pavilions, full access to Four Seasons Resort amenities Website
The Ritz-Carlton Residences, Kuala Lumpur
The first Ritz-Carlton Residences in Malaysia is expected to open in late 2017, and occupies one of the two, 48-story towers of the Berjaya Central Park development in Kuala Lumpur’s Golden Triangle area. Owners’ privileges include a 24-hour concierge, housekeeping, doorman and valet service, and vacant-home care. Residents also have access to a private lobby with an outdoor terrace and club lounge.
Each unit comes with its own private elevator, floor-to-ceiling windows, designer fittings and appliances, and interiors designed by award-winning firm Peter Silling & Associates.
Berjaya Corporation Berhad Director Francis Ng reported in 2016 he expected 60% of the residences to be reserved by the end of the year.
Number of units: 287 Price range: MYR 3.34 million ($770,000) to MYR 9.9 million+ (US$2.3 million+) Developer/Architect: Berjaya Corporation/DP Architects Apartment sizes: One bedroom to four-bedroom penthouses, ranging from 1,023 to 4,284 square feet Amenities: Infinity lap pool, wading pool, gym with training studio, spa, tennis courts, cigar and wine tasting room, guest suites, residents-only club lounge, outdoor garden terrace Website
Pavilion Suites, Kuala Lumpur
Launching in 2018, Pavilion Suites in Kuala Lumpur is a serviced residence with couture concierge offerings by The Pavilion Group, known for several luxury mixed-use developments in the area. Ten floors of retail space are planned for the lower levels of the 51-story tower, which will be 300 feet away from a new Bukit Bintang MRT transit station due for completion in the latter half of 2017.
The fully furnished units feature upscale fittings and appliances, marble floors and walls, and a video intercom system. Built on land purchased for the record-shattering price of MYR 7,209 (US$1,662) per square foot, the units are selling at equally record-shattering prices. Despite the hefty price tag, 307 units out of the 383 were reportedly sold during the six-month preview stage, and only a few remain.
Number of units: 383 Price range: MYR 2.2 million (US$507,000) to MYR 5.9 million (US$1.4 million); penthouses MYR 27.98 million (US$6.5 million) Developer: The Pavilion Group Apartment sizes: One and two bedrooms, ranging from 694 square feet to 1,255 square feet; penthouses are 9,326 square feet Amenities: Infinity pool, wading pool, outdoor terrace, sitting lounge, gym, spa, indoor jacuzzi, café, skylight to mall Website
Tropicana The Residences KLCC, Kuala Lumpur
Opening mid-2018, the 55-story tower housing the Tropicana serviced residences promises to wow. The architects, Skidmore, Owings & Merrill, are the same ones behind Dubai’s Burj Khalifa and New York’s One World Trade Center.
Kuala Lumpur’s first W Hotel will be located on the first 24 floors, and the fully furnished residences above, with separate entrances for residents and hotel guests. Owners have exclusive access to the building’s rooftop facilities (including a private pool and gym) that boast 360-degree views of the city. One of the few remaining tracts of freehold property in the city center, there are reportedly fewer than 20% of units still available, and all one bedrooms are sold out.
Number of units: 353 Price range: MYR 1.78 million (US$410,000) to MYR 9.39 million (US$2.2 million) Apartment sizes: one to three bedrooms, ranging from 710 square feet to 1,604 square feet; penthouses from 2,800 square feet to 3,063 square feet Developer/Architect: Tropicana Residences (subsidiary of Tropicana Corporation)/Skidmore, Owings & Merrill Amenities: Private saltwater rooftop pool, gym, and recreation facilities; access to W Hotel’s amenities, including spa, signature bar and lounge, fine-dining restaurants, jacuzzi, and outdoor pool featuring a poolside bar Website
Forest City Coastal Villas, Johor Bahru
Forest City, a $100 billion "sustainable smart city" development in Johor Bahru, will house as many as 700,000 people across four reclaimed man-made islands roughly four times the size of New York City’s Central Park. Construction on the first island began in 2015, though the whole project will take at least two decades to complete.
Separate from the high-rises that will open during the fall of 2017 are plans for the opulent Coastal Villas, four- and five-bedroom high-ceilinged villas with function halls and multiple living rooms, due for completion in 2019.
Prospective owners can choose between two-story detached villas surrounded by a garden, plus a private rooftop garden; or three-story seaside bungalows with 6.6-meter-high ceilings, a private elevator, and separate entrances for service staff. Developers say between 60% and 70% of these properties are already sold.
All residents of Forest City will have access to the private member amenities, including the pool and gym, free shuttles around the island, acres of green space, and easy access to the upscale duty-free shopping center and water-sports beach. In addition, there are special legal and tax incentives for owners, including waived visa application fees and expedited immigration between Malaysia and Singapore.
Number of units: 233 Price range: MYR5 million (US$1.12 million) to MYR20 million (US$4.6 million) Developer/Architect: Country Garden Pacificview and Esplanade Danga 88 Villa sizes: Four or five bedrooms, ranging from 4,478 square feet to 8,666 square feet Amenities: Gardens, private terrace rooftop, private elevator, multiple living rooms, function hall, access to Forest City community amenities including pools and gyms Website
Amaris Terraces By-The-Sea, Penang
The luxurious Amaris terraced houses are the final property offerings with land ownership in Seri Tanjung Pinang, an award-winning master-planned seaside development designed for prime waterfront living in Penang. Targeted for completion by the end of 2017, the very low-density development has just 29 three-story seaside homes. All units feature merbau wood flooring, and grand marble and granite fixtures.
There are private elevators to encourage multi-generational living, and internal courtyards reminiscent of the spacious designs of traditional houses in old Penang. Corner units boast their own private pools.
Residents also benefit from being a few minutes away from the four-acre Straits Green public park and the Straits Quay retail marina, featuring upmarket eateries, shops, art galleries and Penang’s first dedicated performing arts center.
Number of units: 29 Price range: MYR 3.78 million (US$871,400) to MYR 4.7 million (US$1.1 million) Developer: E&O Property Apartment sizes: Five bedrooms, ranging from 5,262 square feet to 6,540 square feet Amenities: Private elevator, spacious courtyards, expansive sea views, corner units with private pools Website
Agile Mont Kiara, Mont Kiara
Agile Mont Kiara is China-based developer Agile Property Holdings’s first foray into high-end residential property in Malaysia. Expected to be completed in 2019, plans for the 10-acre site include a sprawling and majestic "Secret Garden" and other green elements across 65% of those acres. With just 813 partly furnished units spread across 11 low-, medium-, and high-rise blocks, it is one of the lowest density developments in the neighborhood. Agile also lays claim to the title of the largest property in all of Mont Kiara, one of the most prestigious zip codes in the country.
Number of units: 813 Price range: MYR 1.1 million (US$254,000) to MYR 6.6 million (US$1.50 million) Developer/Architect: Agile PJ Development/DPA Apartment sizes: Three and four bedrooms, ranging from 1,156 square feet to 5,037 square feet Amenities: Running track, fitness pool, Jacuzzi, sky club, badminton court, large-scale community garden Website
Le Nouvel KLCC, Kuala Lumpur
Completed at the tail end of 2016, the prestigious dual-tower high-rise development in the heart of Kuala Lumpur deserves mention for the big names involved: Pritzker Prize-winning architect Jean Nouvel; landscape and vertical garden master Patrick Blanc; lighting designer Herve Descottes; and interior designer Koichiro Ikebuchi.
With a striking façade that fuses light, glass, and steel, the 195 units are spread out over 49- and 43-story towers and connected by a pool deck and sky bridge. Unit interiors are thoughtfully designed, including bespoke touches like silk-screened window panels with designs unique to every residence. Concierge and security are top-notch, handled by Wing Tai Asia, which also manages the high-end Lanson Place serviced residences.
Number of units: 195 Price range: MYR 5.17 million (US$1.2 million) to MYR 14.48 million (US$3.3 million) Apartment sizes: One to four bedrooms, ranging from 1,722 to 5,791 square feet, and penthouses up to 10,428 Developer/Architect: Wing Tai Asia/Jean Nouvel Amenities: Games room, karaoke room, theatre, pool, gym, Jacuzzi, yoga room, wine cellar, cigar lounge, cocktail lounge, fine-dining restaurants Website