By Sharen Kaur
NCT Group will launch Phase 2 of Ion d'Elemen, its RM1 billion project in Genting Highlands, Pahang, early next month, says its founder and group managing director Yap Ngan Choy.
Phase 2 will feature 279 serviced apartment units, selling at more than RM890 per square foot (psf), Yap said.
The apartments, which are fully furnished, range from 1,000 sq ft to 1,300 sq ft each.
Yap told Business Times he is bullish on sales and expects volume to be driven by Malaysians who are looking to stay in the highlands.
When NCT launched Phase 1 a year ago and all 248 units were sold out within seven months.
The units in the first phase were sold at RM840 psf and around 70 per cent were purchased by locals. The rest buyers buyers from China, Singapore, Taiwan, Hong Kong, Iran and Bangladesh, Yap said.
Ion d'Elemen is a resort-styled five-star serviced apartment project, designed using the five elements in Chinese philosophy - wood, fire, earth, metal and water - as base.
It stands at more than 6,000 ft above sea level. Its colours, structure, building materials and green landscaping all revolve around the five elements.
The 4.08ha project will have a total of 1,001 apartments in seven towers and developed over the next four to five years. Each block has its designated element to enhance the feng shui flow.
Yap said the third and final phase will be launched by the end of this year and prices will start from RM910 psf.
"Besides staying in the highlands, owners will enjoy five-star services from Best Western Premier and the seven per cent rental yields.
The hotel group will be managing all the apartments upon vacant possession starting 2016," Yap said.
Under the agreement, the hotel brand will render hospitality and building management services for at least five years.
Yap said when the contract with Best Western Premier expires, NCT will embark on a profit sharing scheme with the purchasers.
Phase 2 will feature 279 serviced apartment units, selling at more than RM890 per square foot (psf), Yap said.
The apartments, which are fully furnished, range from 1,000 sq ft to 1,300 sq ft each.
Yap told Business Times he is bullish on sales and expects volume to be driven by Malaysians who are looking to stay in the highlands.
When NCT launched Phase 1 a year ago and all 248 units were sold out within seven months.
The units in the first phase were sold at RM840 psf and around 70 per cent were purchased by locals. The rest buyers buyers from China, Singapore, Taiwan, Hong Kong, Iran and Bangladesh, Yap said.
Ion d'Elemen is a resort-styled five-star serviced apartment project, designed using the five elements in Chinese philosophy - wood, fire, earth, metal and water - as base.
It stands at more than 6,000 ft above sea level. Its colours, structure, building materials and green landscaping all revolve around the five elements.
The 4.08ha project will have a total of 1,001 apartments in seven towers and developed over the next four to five years. Each block has its designated element to enhance the feng shui flow.
Yap said the third and final phase will be launched by the end of this year and prices will start from RM910 psf.
"Besides staying in the highlands, owners will enjoy five-star services from Best Western Premier and the seven per cent rental yields.
The hotel group will be managing all the apartments upon vacant possession starting 2016," Yap said.
Under the agreement, the hotel brand will render hospitality and building management services for at least five years.
Yap said when the contract with Best Western Premier expires, NCT will embark on a profit sharing scheme with the purchasers.
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