Beverly Group sales and marketing executive director Wendy Tang said the 2.69-acre Lexa Residence is the first phase development of Quartz WM — a 16.484-acre freehold mixed-use development — which carries a gross development value (GDV) of RM260 million.
“The selling price averages RM650 psf. We have achieved 70% take-up since the project was previewed early this year,” she told TheEdgeProperty.com.
Lexa Residence offers 438 serviced apartment units housed in two 21- and 23-storey towers, with seven types of layouts and built-ups ranging from 662 sq ft to 919 sq ft.
Apart from the residential component, there will be six storeys of parking bays and three levels of retail spaces offering 38 retail units, all of which will be managed by the developer.
Lexa Residence is expected to be completed by June 2020.
On the pricing, Tang noted that most of the similar projects in the surrounding areas have starting prices from around RM600,000 for two-bedroom units, and RM1.2 million to RM1.8 million for four-bedroom units.
“We have priced Lexa Residence very competitively in all aspects given its freehold tenure, the partially fitted interior and prices ranging between RM420,000 and RM650,000 for the 2-bedroom and 4-bedroom units,” she explained.
Tang noted that in the first quarter of 2017, the company will be launching Fera Residence at Quartz WM located adjacent to Lexa Residence.
Fera Residence comprises 386-serviced apartment units and 18 retail units.
Quartz WM has a GDV of RM1.5 billion in total, comprising a central park and five projects, she explained.
The 16.5-acre site of Quartz WM is divided into 5 pieces of land with a central park. The first two plots will have mixed-use developments comprising serviced apartments and retail, while future plots are still in the planning stages.
Tang said Quartz WM is 4.6km away from KLCC and 3.5km away from the world’s largest natural quartz dyke — Klang Gates Quartz Ridge.
“Strategically located at the fringe of Wangsa Maju and Setiawangsa and with road expansions and improvements, this estate enjoys both convenience and accessibility,” she added.
Besides the Quartz WM development, Beverly Group also plans to launch a mixed-use development made up of serviced apartments, SOHO and retail units at Equine Park, in the first quarter of next year. The project will be called Equine Residence.
The company is currently developing 28 BLVD in Pandan Perdana.
Artist’s impression of Lexa Residence by Beverly Group.
News Source: The Edge Property, 30 September 2016