Press Release – For Immediate Release
Malaysia’s diversifying economy has been reflected in its ambitious infrastructure developments and MM2H program, which have turned the property market lucrative to investors. The World Bank further affirmed its confidence in Malaysia’s advancing economy and predicted that its GDP will reach 4.6% this year. Hong Kong, on the other hand, has seen a growing trend on investment and immigration inquiries on Malaysia from investors and homebuyers, as reflected in the local media.
Kuala Lumpur’s property market is especially attractive for its remunerative capital gain. The Greater Kuala Lumpur MRT system, East Coast Rail Link (ECRL) and Bandar Malaysia developments will stimulate demand of high-quality residential developments and increase the values of property markets along the infrastructure developments. genKL, a residential project in the prestigious Kuchai Lama neighborhood nearby the upcoming transportation and commercial hub, Bandar Malaysia, starts now from merely RM 1M.
Malaysia emerges as a trending immigration destination
The market has remained confident in the economic prospects of Malaysia. The World Bank foresees that the country’s GDP will increase by 4.6% by 2019 while the Malaysian Institute of Economic Research (MIER) has increased its forecast of the GDP to 4.6% following Malaysia’s ambitiously- growing economy after the government renounced its partnership projects with China’s ‘One Belt One Road’ initiative. The International Monetary Fund (IMF) further reaffirmed in confidence that Malaysia is emerging as the next high-income nation in Asia.
A low cost of living and an intermix of international cultures are compelling factors that have allowed foreigners to ease into the lifestyle of Malaysia. In 2002, the government launched the MM2H program which attracted a number of foreigners worldwide. Up to July 2019, over 4.39 million applications were granted across 131 countries, directly and indirectly bringing a large sum of revenue into the government treasury, while in the previous two years, the program generated RM 18.35 billion of revenue.
The Greater Kuala Lumpur Plan to fuel economic growth
The government’s ambitious infrastructure developments are delivered on the promise of a vast transformation. The Greater Kuala Lumpur Master Plan consists of the expansion of the city’s MRT network, the Kuala Lumpur – Singapore High Speed Rail, the East Coast Rail Link and the Bandar Malaysia development. Together, the developments will create a new outlook of the city and stimulate the national economy in accordance to the visions and goals brought by the Kuala Lumpur 2020 Structure Plan. Such will upgrade the city’s economic status, improve its living standards, increase its national income and expand its population to approximate 10 million by 2020. The plan aims to place Kuala Lumpur as one of the top 20 cities in the Global Livability Index and as one of the 20 fastest growing economies globally.
Bandar Malaysia, a catalyst towards Malaysia’s global status
Malaysia’s Prime Minister Dr. Mahathir reinstated the Bandar Malaysia development in April this year and reaffirmed that the mega development, at a cost of USD 3.30 billion, will be a major catalyst towards Malaysia’s economy in the years ahead. With over 486 acres of mix-used space, Bandar Malaysia will have a significant impact on Malaysia’s national economy and serve as a global hub for finance, technology and entrepreneurial firms as the second largest underground city worldwide. “Bandar Malaysia will be the most iconic commercial center of Malaysia,” DBS writes in a report.
According to its master plan, Bandar Malaysia will be a regional transportation hub to house a Railway system, MRT, Monorail and a bus system that will seamlessly connect cities across Asia. “Bandar Malaysia will be a regional logistics and commercial core to stimulate the national economy and create a vast number of business opportunities. As Dr. Mahathir asserted, Bandar Malaysia will draw major international commercial institutions, multi-national corporations and Fortune 500 companies to locate their regional headquarters,” says Terence Chan, Managing Director of Golden Emperor Properties.
Upscale dual-key concept residence starts from RM 700 psf.
Nestled in Kuala Lumpur’s upscale neighborhood of Kuchai Lama, genKL is merely a 10-minute drive from the upcoming Bandar Malaysia. Atop the hillcrest of the neighborhood, the residence possesses a serene atmosphere while retaining an intimate distance to KLCC with a number of transports and highways that directly connects to the city center, including the federal highway – Shah Alam Expressway (KESAS) and the New Pantai Expressway (NPE). Just off of Old Klang Road and nearby Mid Valley, genKL is where convenience can easily be reached through the doorsteps.
genKL accommodates 325 three and four-bedroom condominium units and 7 villas, ranging from 1,150 square feet to 3,184 square feet. The units come with basic finishing and complimentary parking space whilst fractions of the units are designed with a rare dual key concept. The location of genKL on the hillcrest, provides a panoramic view of Kuala Lumpur and the upscale residence houses over 20 on-site amenities including a 50-meter swimming pool, jacuzzi, a gym center, a tennis court, a cycling route, a yoga room and private lounge space. Starting price begins at merely RM 1M, or RM 700 per square feet.
“Just one MRT stop from Bandar Malaysia, genKL, thoughtfully created by CapitaLand and Juta Asia, is a high-quality home at an impeccable location. Bandar Malaysia will be an ambitious development which will create a number of jobs and upheave the nearby population. The Bangsar South CBD, home to the University of Malaysia (UM), placed globally at 70th place, will additionally be able to attract the wealthy population to invest into this highly sought-after area,” says Chan.
CapitaLand is one of Asia’s largest diversified real estate groups. Headquartered and listed in Singapore, it owns and manages a global portfolio which spans across diversified real estate classes. The portfolio includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential. With a presence across more than 200 cities in over 30 countries, the Group focuses on Singapore and China as its core markets, while it continues to expand in markets such as India, Vietnam, Australia, Europe and the USA. https://www.capitaland.com
About Golden Emperor Properties (Hong Kong) Limited
Golden Emperor Properties (HK) Limited is a Hong Kong-based company that offers international properties to clients in Hong Kong and globally. The company works with property developers from Thailand, Japan, Malaysia, the United Kingdom, Europe and many others. The company has a team of dedicated sales agents that can provide consultancy and information on relevant transaction-related topics such as taxation, sales & purchase procedures, payment schedules, and many other. www.goldenemperor.com
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