Local developers Pacific Star and DB2 are launching the first phase of their luxury condo project in Malaysia's Iskandar today.
More than 400 units at Puteri Cove Residences will be released to the public, priced from RM1,180 to RM1,580 (S$454 to S$608) per sq ft.
There will eventually be more than 600 homes, ranging from one- to four-bedroom units of 600 to 4,100 sq ft.
The project will feature three high-rise towers comprising a mix of studio, one- to four-bedroom units and penthouses.
There will also be four low- rise blocks of Soho (small office home office) and loft units, on top of a mall.
These blocks face a waterfront promenade of eateries, grocery and convenience stores, clinics and other businesses.
The development is in Puteri Harbour, Iskandar's answer to Singapore's Keppel Bay. It is midway between the Causeway and the Second Link at Tuas.
More than 700 people have registered their interest, Pacific Star said, with over 60 per cent of them Singaporeans.
"The majority of the Singapore-based buyers have cited a budget as high as RM2 million, with preferences for the one- and two-bedroom apartments that range from 600 to 900 sq ft," the developers said in a statement yesterday.
Malaysians are the next biggest group signing up for the launch while Indonesians, Europeans, Koreans, Japanese and those from the Middle East have also shown interest, the developers said.
Demand has been strong despite the property cooling measures introduced by Malaysia's government in October last year, according to Pacific Star chief operating officer Glen Chan.
"We have also noticed that buyers are very well-informed and do their homework before making an acquisition. Nowadays, they have a longer-term perspective that is not affected by these recent property cooling measures."
The project, sitting on 340,000 sq ft of land, will have amenities such as tennis courts and numerous water features.
The project launch will be at the ERA sales office, 743 Lorong 5, Toa Payoh as well as at the on-site sales gallery and show suites at Puteri Harbour, Iskandar.
Both sales galleries are open to the public from 10am to 7pm.
This article was published on April 5 in The Straits Times.
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