High-end condo in KL centre looks to launch M'sia's 1st en masse sale

Kuala Lumpur

MALAYSIA could see its maiden en masse sale if owners of the first high-end condominium project in the city centre proceed with a proposal for the redevelopment of the whole property - an initiative that would allow them to realise the best price for their KLCC enclave-sited apartments, its promoters say.

As current indicative land values are RM2,000-RM3,500 (S$690- S$1,200) psf, or 2-3.5 times the last transacted price of RM960 psf (based on the unit price of RM1,250 psf transacted last year), the owners of Desa Kudalari would be able to realise the underlying value of their asset which is already more than 30 years old, said CH Williams Talhar & Wong (WTW) deputy managing director Danny Yeo.