K Residence apartments opposite the Petronas Twin Towers
Project value of 96 Million USD
Two open days in Dubai for interested parties on the 16th and 18th of February
Dubai, UAE: 13 February 2006 - Milford Real Estate, a leading real estate agency in Dubai, announced today the launch of sale for K Residence units, a prominent new development in Kuala Lumpur, Malaysia, to GCC residents. The total development has a cost of 96 Million USD.
The K Residence luxury condominium is linked to the luxury retail centre, Avenue K. They form part of a total development located along Jalan Ampang directly opposite the Petronas Twin Towers. Owners of K Residence units will enjoy remarkable privileges living in the very pulse of the city. With direct access to the Light Rail Transit (LRT) station, they will also benefit from unparalleled connectivity to KL Central, Kuala Lumpur International Airport, and various shopping, leisure and entertainment areas throughout the city.
Avenue K is an 8-level fashion and lifestyle centre which opened its doors a year ago. This stylish new retail complex provides a unique shopping and lifestyle experience, numerous restaurants, cafes, art museum, children's centre, roof garden and award winning spa, and many other services and amenities for one stop convenience.
K Residence consists of 180 units of condominiums in a 50-level tower block with its own access lobby and elevators for the exclusive use of its residents. The units offer 2-bedroom, 3-bedroom, triplex and duplex penthouses. Areas range from 1,400 - 10,000 sq ft. The price for the 2 bedroom is RM 1,550,000 (approximately USD 407,900) and the size is 1,484 sq ft (approximately 138 sq m). Construction started in July 2005 with a scheduled date for completion in December 2007 - early 2008.
Helen Watson, Milford Real Estate managing director said:
"The opportunities in this prestigious development almost passed by the GCC investors with such a high interest level in Asia at launch. Milford has managed to secure a limited number of prime units even though 75% of the residential units have been sold. An outstanding investment, with prices from $230 per sq ft, that promises to yield rental premiums of between 8% and 10%. This is certainly a very good return on investment".
Jeff Yap, Director of Avenue K and K Residence said:
"We are delighted that Milford Real Estate is representing this development for us to customers in the Middle East. This is a truly unique project, facing the Petronas Twin Towers, creating a new social hub - KL's largest living room where urban lives converge to create an exciting dynamic community."
Milford Real Estate is running two open days for interested investors -
Location: Palm 3 suite, the Fairmont Dubai, Sheikh Zayed Road, Dubai
Date: Saturday 18th and Sunday 19th of February 2006
Time: 10 am to 7 pm
Cost: Free of Charge
Registration: Call +971 4 332 8811 for more details or to register your place
Investors can also find out more at the International Property Week, 21-23 February 2006, from stand 112 in the Dubai International Exhibition Centre.
Helen Watson summed up the launch by saying:
"K Residence is ideally located, built to the most prestigious standards and provides leading facilities. Political and economical stability make Malaysia one of the most desired destinations in Asia. Enticing financial facilities offer up to 70% financing, allowing foreigners to own this piece of exclusive freehold property. Whether GCC residents are looking for a second home or a sound investment, we are advising our regular clients to act fast as the units are sure to move quickly."
-Ends-
About Milford Real Estate
Milford Real Estate is a leading company in the provision of real estate retail management. With a strong presence in Dubai, the company applies models based on their overseas experience and have pioneered a one-stop shop for clients wishing to invest in Dubai real estate.
The Milford Real Estate service bridges the property spectrum - consulting and negotiating with major developers, building trust and relationships with landlords, developing close liaisons with relocation agents - so that whatever the client's property and accommodation needs, they can be assured of the best advice and selection.
The company has successfully marketed its services to both international and local real estate markets through carefully targeted advertising campaigns and global property events, and has established a professional profile both in the UAE and overseas. The size and range of Milford's property portfolio is matched by a growing client base, which includes multi-national companies, private overseas investors, relocation specialists and Dubai-based investors.
For more information, images or to interview a spokesperson contact:
Tarek Lasheen or Nick Leighton,
NettResults Public Relations
PO Box 72587, Dubai
United Arab Emirates
t: +971 4 331 1593
f: +971 4 331 1562
tarek@nettresults.com nick@nettresults.com
www.NettResults.com
© Press Release 2006
