Friday, August 17, 2007

KL Property 2- Crest Jalan Sultan Ismail

KL property 2- Crest Jalan Sultan Ismail

Crest Worldwide Resources Sdn Bhd expects to sell off its maiden mixed development project in Kuala Lumpur in three months as it is targeted primarily at investors as well as young executives working and living in the city.

Crest Jalan Sultan Ismail-has a very strategic location- behind Renaissance Hotel at the intersection of Jalan Ampang and Jalan Sultan Ismail.

I think it is a good investment due to its good location and prestigious address.

The RM420mil project comprises a 26-storey block of office suites, 44-storeys of serviced apartments and a six-storey podium for retail and car park. It is situated on 1.72 acres of leasehold land, which the company purchased for RM35mil in 2005.

The residential tower will house 278 units ranging from 616 to 7,593 sq ft. The apartments are priced between RM425,000 and RM5.9mil, averaging RM750 per sq ft.

The 75 office suites have built-up areas of 1,605 to 10,498 sq ft and the average selling price is RM600 per sq ft. Prices vary between RM540,000 and RM6.6mil.

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