Ritz-Carlton Residences confident of 60% take-up rate by year-end

KUALA LUMPUR: Berjaya Corp Bhd’s (BCorp) wholly owned subsidiary Wangsa Tegap Sdn Bhd, the developer of The Ritz-Carlton Residences, is confident of achieving 60% take-up rate by year-end.
Speaking to reporters at a media briefing yesterday, its director Datuk Francis Ng said the take-up rate is already at 30%, with half the buyers being local buyers.
“Now we are confident that the completion is slated in the first quarter of 2017 and I think that seeing is believing so you can come and view the property,” he said.
He added that the RM2,500 per square foot (psf) selling price for a branded residence is cheap compared with other similar properties in Kuala Lumpur and the region.
Four Seasons (next to KLCC), which is under construction, is priced from RM3,000 psf while Ritz-Carlton Residences in Bangkok, which was recently completed, is priced from US$5,500 (RM22,700) psf.
“The ringgit is so low, there’s no reason not to buy,” he said, adding that its target market are high net worth individuals.
Ng said the foreign buyers are from Singapore, Hong Kong and China. The group is also meeting some 30 to 40 prospective buyers in Taiwan.
The Ritz-Carlton Residences takes up one of the two towers at Berjaya Central Park, located at the junction of Jalan Sultan Ismail and Jalan Ampang.
There are 288 units housed in a 48-storey tower with unit sizes ranging from 1,023 sq ft to 4,284 sq ft. Maintenance fee, including sinking fund is RM1 psf.
The project is 92% completed.