Singapore developers launch Block B of The Infinitum

KUALA LUMPUR (June 8): Singapore developers Roxy Pacific Holdings Ltd and Macly Group have unveiled Block B of The Infinitum at Jalan Dewan Sultan Sulaiman, Kuala Lumpur.

Located on a 1.39-acre freehold site, The Infinitum is a mixed development next to Quill City Mall. With a gross development value of RM800 million, it comprises two blocks of 723 dual key designer suites, which are sitting on top of 31 retail units.

Dubbed The Colony by Infinitum, the 33-storey Block A consists of 423 units while the 43-storey Block B — The Luxe by Infinitum — houses the remaining 300 units.

The project is being developed by Macly Equity Sdn Bhd, a joint-venture company between Roxy Pacific Holdings and the Macly Group. It is expected to be completed by the third quarter of 2020.

Block A is about 75% sold to date, so the company decided that it was time to launch Block B, which has recorded 25% bookings so far, Macly Equity head of sales and marketing Catherine Wong said at the official launch of The Luxe by Infinitum today.

Among the Block A purchasers, about 60% are Malaysians while the remaining are investors from Hong Kong, China, Singapore and the Middle East, she noted.

“For Block B, we foresee China and Hong Kong buyers taking up 10% to 20% of the units as they are major investors in today’s market,” she said, adding that the development is also targeting local young executives who are looking to own a home in the city centre.

She added that the company believes the recent capital control policy by the China government is not expected to impact interest from China and Hong Kong buyers, as the amount to purchase a unit in the development will still be within the bracket of capital controls.

“We are targeting a 55% take-up rate for Block B this year and I believe we will be able to achieve that. We are also aiming for a 70% take-up rate for the block upon its completion in 2020,” she said.

The Infinitum offers six types of dual key designer suites to choose from one-bedroom, two-bedroom, loft and duplex units with built-ups ranging from 675 sq ft to 1,180 sq ft.

With an average price of RM1,380 psf, the units are priced from RM980,000 to RM1.14 million. Meanwhile, the prices for the retail units have yet to be determined.

The entry level for The Infinitum is still very affordable compared with its neighbouring products, which were priced between RM1,800 and RM2,500 psf, she noted.

“We are introducing a well-designed dual key concept that allows buyers to generate double rental income from two different tenants while still owning the one unit,” she said.

Residents also get to enjoy the nearby amenities including Quill City Mall, Medan Tuanku Monorail station, Asia School of Business, Open University Malaysia, University Kuala Lumpur, food and beverage outlets, and banks.

In addition, the development offers a comprehensive range of facilities — a swimming pool that overlooks the Petronas Twin Towers, sauna, gym, wet deck, jacuzzi, BBQ area and KTV room.

Looking ahead, Macly Group managing director Herman Chang said Macly Equity will ensure that The Infinitum will be successfully delivered to the buyers and fulfil their promises.

“Our potential future projects in Malaysia have to make sense and offer unique selling points,” he concluded.