SINGAPORE (July 30): Park Regent, CapitaLand’s joint venture residential development with Malaysia’s ParkCity Group, reported strong sales at its priority launch which took place from July 27 to 28.

As at 6pm on July 28, more than 70% of the development’s total 505 units were sold at an average selling price of RM1,100 psf ($366 psf).

To date, locals made up about 80% of Park Regent’s homebuyers.

Park Regent is located on a prime parcel in the popular Desa ParkCity township, Kuala Lumpur, and is scheduled for completion in 2023.

The residential development offers six apartment types, ranging from one-bedroom units to four-bedroom units. Prices start from RM860,000 and apartment sizes range from 872 sf for a one-bedroom apartment to 4,887 sf for a four-bedroom apartment.

Joseph Lau, Group CEO of ParkCity, says, “Park Regent is by far the most prestigious development that raises the benchmark for residential properties in Desa ParkCity, we have a strong following amongst buyers, and a sought-after address – which is what makes us confident about launching a new development even in a soft property market.”

Ronald Tay, CEO of CapitaLand Singapore, says, “We are confident that Park Regent will continue to see strong sales interest both locally and internationally.”

As at 4.40pm, shares at CapitaLand are trading one cent lower at $3.62.

 

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