Evidence of YTL Land’s success in Sentul would be secondary market transactions of The Maple’s units at RM420 psf or capital appreciation of 60%. The Maple has 318 condos housed in two 30-storey towers and according to Yeoh, the units can fetch rental yields of 13%.
“The Maple is much sought-after because it is the only residence in Malaysia that offers a landscaped private gated park, akin to London’s Hyde Park. Residents get to enjoy a host of activities, like boating, jogging, scenic picnics, bird watching, camping, outdoor movies and concerts, in a rare, green lung in the city,” Yeoh explains.
Unique selling features of the project include its unusual and attractive designs, such as a one-acre landscaped podium deck, three pools, four themed gardens and a porte cochere grand lobby entrance.
“With more than 50 years of experience in construction, we are able to be creative with our designs, taking bold steps in layouts and project concepts. Also, our expertise ensures our projects are built safely at an affordable cost,” Yeoh continues.
The Maple is not the only YTL Land condominium here that is doing well. The value of the 498-unit Tamarind, the first condominium to be launched in 2002 at RM180 psf, has appreciated to RM260 psf.
The 490-unit Saffron, launched in March 2006 at RM220 psf, has since seen prices on the secondary market rise to RM280 psf. The Saffron is 90% sold with completion slated for March 2009.
One of the factors that have helped increase the appeal of YTL Land’s projects in Sentul is recent improvements to infrastructure, thanks to the Sentul Link that connects Lebuhraya Mahameru to Jalan Sentul and the Duta-Segambut Link designed to ease traffic flow at Jalan Segambut and the Jalan Duta roundabout.
The widening of Jalan Ipoh has also enhanced accessibility to Sentul. Another boon is the completion of the Duta-Ulu Klang Expressway (DUKE), which offers residents direct access to the SPRINT, Federal, North-South and Karak highways.
So, what’s next for YTL Land? According to Yeoh, while most of the components in Sentul West are already in place (Sentul Park, KLPac and SPKC), there are more projects coming up in Sentul East, like the RM80-million d7, YTL Land’s first commercial project in the area.
“d7 is perhaps the most significant point of progress in our vision because the launch of any commercial property depends on the community already having in place a solid foundation to ensure demand and value for office and retail spaces,” says Yeoh.
d7 offers 109 duplex offices, office suites and bridge units. It is open for registration and will be launched in two to three months. d7 offers lush landscaping, water features and artistic sculptures in the atrium area, and it fronts the Sentul Walk.
After d7, YTL Land will be putting on the market more condos around the Sentul Park. It is planning for the Sentul Park Fine Arts Gallery, which will be the visual arts complement to the performing arts offerings at KLPac.