Complete Property Market Updates of Singapore

April 29, 2008

Katana II: Katana launching second KL project

Filed under: Uncategorized — Propertymarketupdates @ 4:41 am

Katana II tagged at RM1,600-1,900 psf, double price of first project in 2005

BOUTIQUE firm Katana Developments, which is linked to Oriental Holdings chairman Loh Cheng Yean, will launch its second residential project in Kuala Lumpur at RM1,600-1,900 (S$687-815) per square foot.


 
This represents an increase of about 100 per cent over its first KL development in 2005.

Katana director Sherman Lim said: ‘High-end properties in Kuala Lumpur have easily more than doubled since 2005.’

Pointing out the crucial difference between developing property in Singapore and Malaysia, Mr Lim said that in Singapore, land costs typically accounts for up to 70 per cent of the investment costs while in Kuala Lumpur, it might be as little as 20 per cent.

This is why location alone is not the only distinguishing factor in a Kuala Lumpur property.

‘You can have two properties side-by-side and yet they could be very different, depending on the design and construction,’ added Mr Lim.

For Katana II, the developer engaged award-winning Singaporean firm W Architects to undertake the design. This is in line with the company’s credo of, ‘doing something more design-driven’.

Located in Kuala Lumpur’s ‘embassy row’, Katana II will have 40 units, comprising a mix of townhouses, triplexes, duplexes and lofts. Of these, there will be six penthouses with private lap pools.

Another award-winning Singapore firm, SCDA Architects, designed the 30-unit Katana Residences, which is now fully taken up after the developer sold the remaining 10 units it held for investment last year for RM1,400-1,700 psf.

Meanwhile, in the pipeline is The Boulevard Katana in Penang, expected to be launched in the third quarter of the year.

Source : Business Times – 15 Apr 2008

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