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Phase 2 of The Henge sees overwhelming response despite market slowdown

Long queue started the night before the opening of The Henge show gallery to the public. Long queue started the night before the opening of The Henge show gallery to the public.

Unperturbed by low profit margins in the affordable segment, Aset Kayamas Sdn Bhd, a privately held property developer, is going full steam ahead with its launches this year as it banks on volume growth to improve its earnings.

“This [volume game] is our company’s strategy to focus on the affordable segment. Our properties are generally priced 20% to 30% lower than the market price,” its managing director Tan Sri Chai Kin Kong told reporters after a loan agreement signing ceremony between Aset Karyamas and Malayan Banking Bhd (Maybank) yesterday.

“We don’t earn high profit margins from our projects, as we go after the volume of sales. For instance, our The Henge residential project in Kepong here is a high-rise, high-density project, which will partially offset the lower margins,” he said.

Aset Kayamas is scheduled to launch the second phase of The Henge in Kepong tomorrow (Saturday), which features two 45-storey condominium blocks housing 736 units with built-ups ranging from 1,100 sq ft to 1,300 sq ft.

Prices start from RM530,000 or RM430 per sq ft.

The price is 6.4% higher compared with Phase 1’s RM445,000 or RM404 per sq ft.

Phase 1, which also featured two 45-storey condominium blocks comprising 736 units, was fully sold out within two days of its launch in August last year.

Chai is confident that all the units in its second phase will also be taken up within a week of the launch.

“Since Phase 2 was opened for pre-registration in mid-March, we have received more than 1,100 applications,” he said, adding that the entire project is expected to be completed in the second quarter of 2019.

Chai added that the company spent RM10 million to build a new sales gallery, as well as for the marketing campaign in the run-up to the launch.

Earlier, Aset Kayamas secured a RM629 million loan facility from Maybank, comprising RM229 million bridging loans and end financing of RM400 million. The proceeds will be used to fund The Henge development.

Going forward, Chai said the group has lined up another residential project called The Haute in Datuk Keramat here for launch next month, which has an estimated gross development value of RM350 million to RM400 million.

The project, which sits on four acres (1.62ha) of land, is targeted at the premium market.

 

Opening of Show Gallery & Unit Selection 9-10 March 2016

 

Development Concept

 

Future Developments Around The Vicinity

 

Future projects being planned surrounding Taman Metropolitan Kepong.Future projects being planned surrounding Taman Metropolitan Kepong.

 

Future projects being planned surrounding Taman Metropolitan Kepong.

 

Total :   9,348 highrise units being planned
Breakdown :   Service Apartment: 1,038 units
    Resi. Condominium: 1,896 units
    RUMAWIP and PPA1M: 6,414 units
Remarks :   The Henge's 1,472 units contribute the
    biggest number of residential condos
    in the vicinity. The development is 
    segregated from the RUMAWIP
    component called Residensi 
    Kepongmas, which does not allow 
    sale and rental for 10 years.

 

The Henge Residence

Name :   The Henge
Phase :   2
Developer :   Sinerjuta Sdn Bhd
     (sister company of Aset Kayamas)
Location :   Jalan Metro Perdana Barat,
    Taman Metropolitan Kepong,
    Kuala Lumpur
Property Type :   Residential Condominium
Sch. H of HDA :   Yes
Tenure :   Leasehold 99 years
Land Area :   6.144 acres
No. of Blocks :   Four blocks of 45 storeys including 8
    levels of carpark podium and 1 level
    of basement and 35 units of shops
No. of Units :   1,472 units
    Phase 1:
    - Crest: 368 units (sold out)
    - Dawn: 368 units (sold out)
    Phase 2:
    - Eden: 368 units 
    - Folio: 368 units
No. of Lifts :   4 passenger and service lifts
Unit Types :   Type A1: 1,300 sf (3+1 BR / 2 Bath)*
    * Showunit type.
    Type B: 1,100 sf (3 BR / 2 Bath) 
    - All types come with balcony and yard.
    - All are sold as bare unit with standard
       specs and points provided.
Facilities :   - 48 facilities on Level 7 Facility Deck
       including a 12,000 sf pool
    - Viewing deck across the lake
    - Entrance statement, water feature, 
       strip walkway and trek, mini skate
       plaza and pocket park at Ground
    - The Henge Boulevard consists of 35 shops
Car Parking Bay :   2 carpark bays for every unit
    - Majority of bays are side-by-side.
    - Car wash area provided.
Green Rating :  
Price Range :   Phase 2 from RM530,000 onwards
Price Per Sq Ft :   Phase 2 from RM430 psf onwards
Maintenance :   RM0.27 psf, inclusive sinking fund
Completion :   54 months from SPA Date
Selling points :   1. One of the most affordable PSF new
        launch property with KL address.    
    2. Home-sized units suitable for families.
    3. A residential-based development with
        negligible commercial component for sale.
    4. Scenic view of the park, lake and northern
        FRIM/mountains.
    5. Walking distance to the 289-acre Kepong
        Metropolitan Park.
    6. 5-minute drive to three MRT Line 2 stations.
    7. Proposed new direct road ingress and
        and egress with MRR2.
    8. A variety of matured amenities within
        short driving distance.
    9. Low upfront package with Easy Payment
        Finance (choice of 12 or 24 months) and
        a low booking fee of RM5,000.
    10. High confidence with Phase 1 sold out 
          within a weekend plus.

Specifications & Features

Corridor :   Natural ventilation
Refuse Chamber :   Refuse chamber at every floor
Ceiling Height :   High ceiling - 3.1m (10.5 ft)
Security Tier :   4-tier security provided:
    (1) At ground level guard house
    (2) Card access at residential carpark
    (3) Card access at lift lobby
    (4) Card access to unit floor
    CCTV will be available at common areas.
Structure :   Reinforced concrete
Wall :   RC wall/brickwork
Windows :   Aluminium glass window
Entrance Door :   Timber door
Wall Finishes :   Plaster and paint
    Wall tiles full height for all bathrooms
Floor Finishes :   - Quality ceramic tiles for foyer, living, dining,
       study room, kitchen, yard, balcony and all
       bathrooms
    - Timber laminate provided for all bedrooms 
Sanitary :   Water closet, wash basin with fittings,
    accessories for all bathrooms and rain
    showerhead provided

 

 

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