Novum @ Bangsar South records 90% take-up rate

KUALA LUMPUR: (April 11): Novum @ Bangsar South, Kedah-based Eupe Corp Bhd’s maiden project in Kuala Lumpur has recorded a take-up rate of about 90% since the condominium’s launch about a year ago. It is slated for completion by May 2019.

Eupe’s group managing director Datuk Beh Huck Lee is happy with the results of the developer’s first foray into KL.

“We had anticipated that Novum would do well despite this challenging market. This says two things: if you are giving the right product to customers, you will still be okay in this kind of market,” he told TheEdgeProperty.com.

“And given that we were not familiar with Kuala Lumpur, today’s results indicated that our preparation work (before we ventured into this part of Malaysia) — reading the market and bringing in the right product into this market — has been proven useful,” he added.

Nevertheless, Beh refrained from being overly optimistic.

“The market changes every day but the good take-up rate of Novum has certainly boosted our confidence compared to a few years ago,” he said, adding that the buyers are a mix of investors, made up of first-time homebuyers as well as young working professionals. 

The freehold condominium development is being jointly developed with Asthetik Property Group. It comprises three towers from 37 storeys to 40 storeys on a 3-acre parcel facing the Federal Highway. Upon completion, the project will house 729 units. Novum’s location is less than 3km away from Mid Valley City.

The project has a gross development value of RM555 million. The selling prices range from RM720,000 to RM1.73 million, or an average price psf of RM900, while units have built-up sizes ranging from 647 sq ft to 1,441 sq ft.

Facilities of at Novum include an Olympic-sized swimming pool, playground, floating gym, outdoor lounge, a business centre, a private celebrity kitchen, and a new application dubbed by the developer as the “new digital life app” which will help facilitate dealings between residents and the building management.

The celebrity kitchen will incorporate professional cooking facilities, allowing residents or their designated chefs to prepare meals. It will be linked to a dining area that can host small to medium-sized gatherings.