Park Regent sees 80% take-up rate, says CEO

by NUR HAZIQAH A MALEK/ pic credit: parkregent.com.my

CAPITALAND Ltd and ParkCity Property Holdings Sdn Bhd’s maiden partnership project Park Regent, slated for completion in 2023, has achieved an 80% take-up rate to date.

ParkCity group CEO Datuk Joseph Lau said the project also received an “overwhelming demand with 70% units sold” as a result of the Priority Sales event in July.

“So far, our take-up rate for Park Regent has reached 80%, while most of our buyers are Malaysians,” he said during the Park Regent unit showcase tour in Kuala Lumpur yesterday.

Lau said the project was inspired by the little things, and that it started off as a casual conversation between friends.

“Suiting the needs of our customers, Park Regent reflects ParkCity and Capitaland’s commitment to creating differentiated products that raises the benchmark for residential properties in Desa ParkCity. This maiden partnership brings together the experience, expertise and proven track record of two major property developers in the region,” he said.

ParkCity CMO KC Chong said the apartment was designed around thoughtful and practical luxury, and bringing it into a compact space.

“Living in an era of compact households, we often forget about some of the luxuries that we used to have back in the days such as roomy balconies to lounge in, ample storage, ventilation and light, a yard and a spacious kitchen, just to name a few. Park Regent is a testament of thoughtful luxury, which we (commonly) forgo in city living,” he said.

The joint venture with a RM1.08 billion GDV represents the first project under the 50-50 partnership between the two developers.

The development spans 5.6-acre (2.27ha) with 505 freehold units of built-ups ranging from 872 sq ft to 3,500 sq ft across two towers, and every unit in Park Regent boasts a powder room, and distinctive architecture and interior design.

The residential also offers six apartment types ranging from one-bedroom units to four-bedrooms, with a private lift lobby for the larger ones, while the average selling price of the units is estimated at RM1,100 per sq ft.