One Jelatek, Kuala Lumpur: On The Newspaper

by Yeong Ee-Wah
propertyplus@thesundaily.com

PETALING JAYA: Tan & Tan Developments Bhd (Tan & Tan)’s latest condominium project, One Jelatek, chalked up 90% sales in two hours at its recent sales preview. Tan & Tan’s group marketing general manager Kevin Kuok tells theSun that 81 of the available 90 units were snapped up, leaving only bumiputera units left. According to Kuok, the majority of buyers are locals comprising families and young couples.

The 20-storey condominium has a grossdevelopment value (GDV) of RM60 million and sits on a 0.75-acre pocket of freehold land along Jalan Jelatek. “Completion is in December 2010 and we are projecting a potential rental yield of up to 9%,” says Kuok. This is based on another of its high-end projects, Seri Maya in Setiawangsa. Earth works has already started.

The standard units at One Jelatek have built-ups ranging between 1,327 sq ft and 1,910 sq ft, while the penthouse units have built-ups between 2,331 sq ft and 2,976 sq ft. Prices begin at RM530,000 and purchasers may choose from three configurations: 1 bedroom + study, 2 bedrooms + study or 3 bedrooms. All units come with split unit air-conditioning, built-in kitchen cabinets, sizeable four-fixture master bathrooms, dedicated powder room, store and laundry area and two parking bays.

Kuok attributes the attraction of One Jelatek to several features, such as its location, which is minutes away from the Kuala Lumpur city centre and the Ampang neighbourhood, as well as the multi-level security provided by CCTV surveillance, magnetic touch card access and audio intercoms. “We are also a class above the rest of the Jelatek neighbourhood in terms of architecture, style and finishing,” he added.

One Jelatek is close to KLCC, Great Eastern Mall, The Amp Walk and Gleneagles Medical Centre. It is connected to other parts of the Klang Valley via Jalan Ampang, the Ampang Elevated Highway, and two LRT stations.

Tan & Tan’s senior general manager of project development, Teh Boon Ghee, says the developer’s prime focus will remain within Kuala Lumpur, with several other new developments to start next year.

“In the pipeline, we have 20 Ampang Hilir, a 10-storey low-density and low-rise luxury condominium; 3 Desa Pandan, an upper-medium-end serviced residence of 218 units overlooking KLCC and Royal Selangor Golf Club; and the proposed Mid Valley Phase 3 comprising two 50-storey residential skyscrapers in Mid Valley City,” Teh reveals. Another new development is 6 Stonor, a 30-storey super-luxury condominium on Jalan Stonor. According to Teh, the next immediate launch will be 20 Ampang Hilir, scheduled for the second quarter of next year.