Exsim Group is planning to launch The Fiddlewoodz @ KL Metropolis, an RM828.7 million serviced residence development in Jalan Dutamas 2, Kuala Lumpur, in 4Q2021. The project will offer 679 units in two towers — 386 units in the 54-storey Tower A and 293 units in the 52-storey Tower B.
The resumption and commencement of new mega-developments, supported by improved infrastructure, will boost economic activities and aid in the recovery of the property market, says Knight Frank Malaysia managing director Sarkunan Subramaniam. He also said the residential market will continue to self-correct amid challenges brought on by the Covid-19 pandemic.
The residential property market in the Klang Valley is still very soft due to the prolonged impact of the pandemic, economic slowdown and negative sentiment in general, which have led to fewer transactions, says Savills Malaysia director of research and consultancy Amy Wong. “Some new launches, however, were selling well during the quarter, such as Edelweiss at Tropicana Gardens. The sales rate has increased from the previous quarter,” she says in presenting The Edge | Savills Klang Valley High-Rise Residential Property Monitor for 1Q2021.
PETALING JAYA: Despite the challenges of Covid-19, Kuala Lumpur-headquartered real estate technology company Juwai IQI transacted 293% more new project sales in 2021 to date, compared to the same period of 2020. The 2021 sales are 247% higher than during the same dates in 2019.
REAL estate technology group, Juwai IQI, said its new home sales increased by 293% year-on-date despite the impact of the Covid-19 pandemic. Its transaction data noted the figure was 247% higher versus the same period in 2019. Juwai IQI group co-founder and CEO Kashif Ansari said, paradoxically, many people viewed the pandemic period as a good opportunity to buy houses. At the same time, movement restrictions have led to reduced spending among Malaysians.