UEM Sunrise Bhd is upbeat about the response for its high rise residential development – The MINH, which has been well received by prospective buyers and investors.

Chief executive officer Sufian Abdullah says the luxury development in Mont’ Kiara has attracted professionals, expatriates and owner-occupiers.

“The MINH has received a warm reception, having had 70% of its first tower, Tower B, taken up through an introductory preview with our business associates and Trésorians, our premium loyalty members,” he tells StarBizWeek.

The MINH, an acronym for “Mont’ Kiara Indochine-inspired Nature Homes,” is inspired by its namesake design expression, a style borne from the harmonious combination of French Colonial design and the sensitivities and traditions of vernacular design in Vietnam.

The development comprises two towers of 42 storeys each, with six units per floor and totalling 496 units.

“There are four unit types ranging from 1,607 sq ft to 3,010 sq ft situated on 6.2-acre elevated land along Jalan Kiara 7,” says Sufian, adding that the units are selling from RM1.4mil.

“The MINH is a great option for high-net-worth individuals who are purchasing for themselves or their families, double-income couples with children looking for convenient access to schools and ample amenities, upgraders, retirees, as well as investors.”

Both towers will officially be opened to the public on May 27.

“The MINH’s design concept draws from our aspirations to form an identifiable DNA of our products and allow our customers to find the right products that meet their individual needs,” explains Sufian.

He adds that this initiative came from extensive research and years of understanding its customers’ behaviour.

“Being the first residence under the ‘CLUB Edition in our Happy+,’ The MINH embodies this goal – passionately curated residences which offer beautifully designed hospitality inspired environments, with high-end features emphasising prestigious resort living.

“Our residences under the Happy+ product series including The MINH, will come equipped with innovative product features.”

Sufian noted that very few condominiums are designed thematically, let alone thoughtfully designed in a resort-inspired setting.

“We saw the opportunity and want to offer something different as well as value-driven for our homebuyers and something that’s memorable.”

Going forward, Sufian said UEM Sunrise is “excited” about its product launch calendar for this year.

“Besides The MINH, a new development in Taman Connaught, called The Connaught One, scheduled to be launched in July, will be our first transit-oriented and freehold development in Cheras.

“Additionally, following the overwhelming success of Residensi AVA, the first phase in Kiara Bay, Kepong that is 99% sold, the new phase, codenamed KMP7, will be scheduled in the third quarter of this year.”

Sufian added that new phases of landed freehold will also be launched in Serene Heights, Bangi, in the third quarter of this year.

In Johor, Sufian said there will be a few new phases in the group’s Aspira series in Gerbang Nusajaya.

This will include a new attainable product codenamed RES 7, which is set to be launched sometime in the latter half of 2023.

“New phases in Estuari, Puteri Harbour and Senadi Hills are also in the pipeline,” he said.

Commenting on the outlook of the property market in general, Sufian noted that the Malaysian economy is expected to grow moderately, despite the current challenging external environment this year.

“Demand from the domestic market will continue to drive the nation’s growth, supported by the continued recovery in the labour market, the realisation of several investment projects and the growth of the services and manufacturing sectors.

“We expect the property market performance to grow, aligning with the lower economic growth projected for the year.”

Additionally, Sufian said accommodative policies, continuous government support, execution of planned measures outlined in the revised Budget 2023 and the implementation of strategies and initiatives under the 12th Malaysia Plan 2021 to 2025, are also expected to remain supportive of the property sector.

“However, despite the challenges, we remain determined to strengthen our competitive advantages and look out for opportunities in the various market segments that we have a presence in.”

Circling back to The MINH and in relation to some concerns on the potential economic environment, Sufian is optimistic that response for the development will continue to remain strong.

“This is supported by the luxury development’s strategic location, our loyal Trésor following, low density as well as our branding and reputation as the pioneers in Mont’ Kiara.

“We expect demand for The MINH to remain strong, as this segment of homebuyers are inelastic to volatility in the economic environment.”

Source: The Star