Park Regent at Desa ParkCity hits 80% take-up in a month

KUALA LUMPUR (Aug 29): Park Regent by the Water (Park Regent), the latest high-rise luxury residential project in Desa ParkCity, Kuala Lumpur has achieved 80% take-up in a month after its official launch end of July.

Being jointly developed by Singapore's CapitaLand and ParkCity, Park Regent offers 505 luxury condominium units spread over two towers. 

The units come in six design layouts with built-ups ranging from 872 sq ft to 3,500 sq ft. The average selling price psf is RM1,100.

“Previously, we had announced that we had achieved a 70% take-up rate. I’m happy to announce today that we have achieved 80% take-up now,” ParkCity chief marketing officer K C Chong said during a media tour of Park Regent's sales gallery.

He also told EdgeProp.my that he is optimistic about the property market and is confident that the remaining units will be taken-up as well.

“I’m optimistic about the market. I don’t agree that the market is soft, it is just that people cannot decide what to buy. I believe that with the right product and location, the project will still sell,” Chong noted.

He added that a majority of Park Regent’s buyers are locals, with some foreign buyers from South Korea, Australia, the UK and other countries.

The freehold project is on a 5.6-acre site by the lake and central park at Desa ParkCity. It has a gross development value of RM1.08 billion. The project is slated for completion in 2023.

Also present at the media tour are ParkCity group CEO Datuk Joseph Lau, CapitaLand Malaysia managing director Patrick Liau; Singapore, Malaysia and Indonesia residential and retail CEO Ronald Tay, Serie Architect principal and co-founder Christopher Lee and celebrity interior designer Peter Tay.