WCT Holdings to launch first phase of OUG luxury condos in 2Q2016

PETALING JAYA (April 15): WCT Holdings Bhd is set to launch the first phase of luxury condominium development The Waltz Residences at Paradigm Garden City, Overseas Union Garden (OUG), Kuala Lumpur in 2Q2016, said WCT Holdings managing director Taing Kim Hwa.

The Waltz Residences comprises two tower blocks and 419 units. Taing, however, declined to provide further details such as built-ups and prices of the condo units.

“It is currently open for registration and we will announce the other details of the project such as the built-ups and prices once we are ready,” he told TheEdgeProperty.com.

Paradigm Garden City sits on a 72-acre freehold land comprising luxury condos, a retail mall, corporate office tower, retail offices and a hotel with a total gross development value (GDV) of RM8 billion to RM10 billion.

Meanwhile, the group also expects to complete its Medini Signature condos in Johor by 3Q2016.

The Medini Signature project has achieved a 60% take-up rate since its launch in 2013, said Taing.

“The Medini Signature is a subsequent development to the recently completed and handed over 1Medini Condominiums. The 1Medini Condominiums comprises 644 condo units with built-ups from 720 sq ft onwards. All units have been sold out,” he added.

The Medini Signature has built-ups from 655 sq ft onwards, with an estimated GDV of RM483 million.

Prices for The Medini Signature units start from RM524,000.

“Among the facilities our residents will be able to enjoy include an infinity pool, a yoga deck, tennis court and a gymnasium,” he added.

Another project which the group has completed in Johor is the 1Medini Garden Villas in June last year. There is currently a balance of eight units from the 18 units launched. Prices start from RM1.2 million.

“I would say that our projects in Johor are strategically located at the heart of Iskandar, which has easy access to the city centre. It only takes 15 minutes to drive out to Johor Bahru and the Customs, Immigration and Quarantine (CIQ) complex, and half an hour to drive to the Senai International Airport,” he said.

WCT also aims to open the group’s fourth shopping mall — and its second under the “Paradigm Mall” banner — in Johor Bahru this year.

Do not ask your mechanic about the value of your home. Click here at The Edge Reference Price to find out.

This story first appeared in TheEdgeProperty.com pullout on April 15, 2016, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com here for free.