PETALING JAYA: KSK Group Bhd, best known for its 8 Conlay branded residential development in Kuala Lumpur, is eyeing new projects both domestically and internationally.
Group chief executive officer Joanne Kua said even during an economic downturn, the buyers within this segment are more discerning when it comes to investing, adding that branded residences provide a “lasting value” for investors.
“We always have plans to develop new projects and Kuala Lumpur is an interesting city for us still. We like prime locations and matured areas and are constantly keeping our eyes open for new opportunities around the world as the world is shifting as we speak, ” she told StarBiz in an e-mail interview.
Kua noted that over the years, branded residences have remained a niche segment of the luxury real estate market.
“Real estate prices drop in general but residential real estate prices in good locations hold prices typically.
“In a pandemic, investors want to make sure their money is protected in long term assets where values are protected. In terms of the luxury property segment, luxury property buyers will now be more discerning to look at properties which will provide them a better price premium in the future, ” she said.
Looking ahead, Kua said she is cautiously optimistic with the outlook of the luxury property sector for the second half of 2020.
She noted that branded residences are still considered a high valued assets to own, adding that Malaysia is still an attractive, smart investment destination for foreign property buyers.
“Currently, interest rates in Malaysia are very low and the ringgit is also undervalued against the dollar.
“The ringgit fair value is RM3.80 to the dollar versus the current market value of RM4.35 to the dollar.
“It is indeed the best time for investors to buy properties such as branded residences, as they would want to protect their wealth whilst cautiously increasing their wealth.”
8 Conlay is KSK Group’s maiden luxury mixed-use development in the heart of Kuala Lumpur. Once completed, it will consist of a five-star Kempinski luxury hotel – the first from Europe’s oldest luxury hotelier to open in Malaysia – retail space and two towers of residences serviced by the Kempinski Hotels group known as YOO8.
The group’s property arm, KSK Land, collaborated with design powerhouse YOO for the design of its two residential towers – Steve Leung & YOO for Tower A and Kelly Hoppen For YOO for Tower B.