DigitalCFO Newsroom | 17 August 2022
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic.
The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second is to position the city as a highly liveable city with the connectivity to regional and global markets.
The team at KSK Land has successfully sold Malaysia, the city of Kuala Lumpur, and the property 8 Conlay to a selection of global investors looking for a strategic position in ASEAN.
MGBF founding chairman, Nordin Abdullah, said, “We have seen in cities like London that high net-worth investors often start with the purchase of an iconic property. After establishing a footprint and spending more time in the city, the investor finds ways to integrate Malaysian opportunities into their global business operations.”
“For investment promotions agencies, this strategy requires medium- to long-term thinking coupled with an excellent working relationship with developers of high-end properties,” continued Nordin.
KSK Land recently announced the structural completion of Tower B of 8 Conlay’s twin branded residence, YOO8 serviced by Kempinski (YOO8). To commemorate the milestone, a unique photo series titled ‘Height of Anticipation‘ featuring panoramic views of Kuala Lumpur iconic landmarks was undertaken, set in two actual units from one of Tower B’s top floors. The stylish photo series marks a moment of celebration – both the steady progress of 8 Conlay, as well as more symbolically, the city of Kuala Lumpur as an emerging metropolis.
In another significant milestone, KSK Land also announced that it has secured a buyer for 8 Conlay’s sole penthouse unit at a price of RM30 million. Perched on the 65th floor of the Kempinski hotel tower, the excited buyer was said to have decided on the 8,742 square-foot residence as it offers stellar 360-degree view of the city, Kempinski hotel services and strategic location in central Kuala Lumpur.
KSK Land is expecting the completion of YOO8 Tower A by early 2023 and subsequently, YOO8 Tower B by the end of 2023. This will be followed by the completion of the retail podium, expected within the first half of 2023 while the 8 Conlay Kempinski Hotel is expecting completion within the first half of 2024. To date, the twin branded residence towers have achieved a sold gross development value (GDV) of over RM1.56 billion(~USD355m) with YOO8 Tower A at an 80 per cent take-up rate while Tower B at 40 per cent.
The show units for YOO8 Tower B designed by Kelly Hoppen for YOO are available for viewing at the 8 Conlay Sales Gallery located in Bangunan KSK, Jalan Yap Ah Shak, Kuala Lumpur.
The Malaysia Global Business Forum will host a roundtable themed ‘Attracting High Net-worth Global Citizens: Education, Connectivity and Lifestyle‘ to highlight the strategic opportunities that Malaysia has to offer.