Platinum Victory plans two condominium launches in 1H2019

PETALING JAYA (Dec 20): Property developer Platinum Victory Group plans to launch two residential high-rise projects with a combined GDV of RM787 million in 1H2019, said its executive director Gan Yee Hin.

Gan said in a statement today that Residensi Platinum Teratai carries a GDV of RM360 million while Platinum Arena has a GDV of RM427 million.

Located at Jalan Langkawi, Setapak, Kuala Lumpur, Residensi Platinum Teratai will be launched in January. The 3-acre freehold condominium development comprises 800 units with unit built-up of 928 sq ft. The indicative selling price is around RM423,800.

As for Platinum Arena at Old Klang Road, Kuala Lumpur, the project will be launched by 2Q2019.

Gan said the good response to its earlier project launches this year has prompted the company to go ahead with the upcoming launches.

Platinum Victory’s ongoing projects of Platinum Splendour Residensi Semarak and Vista Semarak at Jalan Semarak, Kuala Lumpur, as well as Platinum OUG in Bukit OUG, Kuala Lumpur, all enjoyed a good take-up rates of 95%.

Besides this, PV18 Residences, which was launched in March this year, has seen almost all its units taken up.

“Despite the soft market, we see demand for rightfully priced properties, located in strategic locations surrounded by good facilities and amenities. We are confident that the property market has the appetite for the products we are planning to launch,” said Gan.

Meanwhile, Platinum Victory’s 7.4-acre lakefront commercial development, The Palette in Setapak, is being completed in phases. Tenants in parts of its retail component have started operations while Aeon Big will open its doors by the end of the year.

“The F&B area is targeted to be fully operational by 3Q2019. The company is currently in talks with various retailers to optimise tenant mix for this vibrant development,” added Gan.