KUALA LUMPUR, Jan 11 – Agile Mont Kiara, a joint venture residential development by Agile Real Estate Development Sdn Bhd and PJ Development Holdings Bhd was officially launched last Saturday by Datuk Mhd Amin Nordin Abd Aziz, Mayor of Kuala Lumpur.
“We are happy to have Agile’s Real Estate Development Sdn Bhd as a new player in the City’s property development initiatives. Agile Property Holdings Ltd has reputable and diversified projects in China and I am sure we will see the best of their expertise demonstrated in their first international project here, in Mont Kiara, one of Kuala Lumpur’s popular and prestigious suburbs,” said Datuk Haji Mohd Najib, Dewan Bandaraya Kuala Lumpur’s Executive Director of Planning.
The first international foray by Agile Property Holdings, the 10-acre freehold land was acquired from PJ Development Holdings Bhd.
Valued at RM1.4 billion in gross development value (GDV), Agile Mont Kiara will comprise of 11 towers with a total of 813 units, ranging from 1,162 to 5,037 sq ft with an average price of RM800 per sq ft.
“We are dedicating 6 of the 10 acres as an environmental deck, with pools, parks and recreational areas. The development exuberates tranquillity and nature, making Agile an oasis in the heart of Mont Kiara,” said Wilson Ren, Agile Real Estate Development’s CEO.
“As a company with over 24 years of experience in property development, we have a strong and diversified portfolio of over 100 projects which includes hotels and resorts, residential and commercial projects across China,” Ren added.
The China-based developer cited it chose Malaysia as the first international development destination due Malaysia’s good weather, multicultural uniqueness as well as the international appeal of Mont Kiara.
“We’ve decided to have a joint venture with a local company so that we can learn and understand the local property market better and its culture,” Ren said.
The project has secured about 70% take-up rate and the buyers comprise of not only local but international buyers as well, including Singapore, Hong Kong, China and West Asia.
“As we enter into these current challenging times, you will be hearing about property prices heading towards a fall or collapse. However in Kuala Lumpur, the property market here is far from a bubble. When there is no bubble, there is nothing much to burst,” opined Tan Sri Ong Leong Huat, Chairman of PJ Development Holdings.
Agile Mont Kiara is expected to be completed by the end of 2019.
The Agile Mont Kiara Gallery and Showroom is located at Lot PT15226, Persiaran Dutamas, Off Jalan Duta, Sri Hartamas, 50480 Kuala Lumpur. The Gallery is open from 10am to 7pm including weekends and public holidays. For more information please contact 03-26308880.