Despite the challenging property landscape, Platinum Victory has made available competitively-priced residential properties to Malaysia’s growing urban and middle-class.
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“People still need a home: a roof over their heads and a safe haven with their loved ones. It is important to be able to roll out projects that meet the increasing needs and demands of those with lean budgets, but are looking to have a home in prime areas within the Klang Valley where they have ample access to work opportunities,” said Gan Yee Hin, Executive Director of Platinum Victory.
“We understand these market needs without compromising on the fundamentals of location, value for money, convenience and accessibility. These are evident with our properties, where we make the most of the space allotted for practical living,” he pointed out. Platinum Victory has been committing its efforts to ensure Malaysians have access to affordable homes within the prime areas of Klang Valley, while ensuring liveability for such homeowners.
Sold-out housing projects
Despite a challenging past year for property developers, two of Platinum Victory’s projects launched in 2019, mainly Platinum Arena Residences and PV9 Residences were sold out in 2020.
Platinum Arena Residences, a 2.9-acre mixed-development with 728 units of service apartments is located in the vibrant Old Klang Road neighbourhood. Pegged at an average price of RM617 psf, the sports themed service apartment project was built with an estimated gross development value (GDV) of RM421 million.
Meanwhile, Setapak’s PV9 Residences was built with an estimated GDV of RM539 million. Based on the exciting concept of “Light Rail, Light Footprint, Light Spirit”, the project’s prominence is its strategic location between Taman Melati LRT station and Tunku Abdul Rahman University College, while availing great connectivity to various urban amenities.
The 5.57-acre development has two key components. The first component has 953 units with built-ups from 1,000 sq ft to 1,300 sq ft, and a selling price from RM 530,000. The development also features 438 units of affordable housing under the Residensi Wilayah scheme (also known as RUMAWIP), which is in line with the national housing agenda for first-time house buyers at RM300,000.
A resounding 90% take-up rate
Thanks to positive growth in the second half of 2020, attributed to Platinum Victory ending the year with two sold out projects; its three new residential property launches saw a good take-up rate of up to 90% and a conversion rate of 50%. These properties have a total GDV of RM1.228 billion.
One such development is the modern urban freehold apartment suites, Vista Sentul Residences. Touted for its affordability, convenience, and liveability, Vista Sentul is built on a 2.38-acre site with a GDV of RM308 million. The property’s unique dual-key feature allows owners earn additional rental income while staying comfortably in their own place.
Making it a reality for Malaysians aged 21 and above to own a house in the city, Platinum Victory’s Vista Danau Kota Residensi Wilayah is another project which created buzz. Set within a 3.721-acre site, the single-block development in the prime locality of Setapak comprises 910 units at RM300,000 per unit. Built to provide seamless access to urban amenities, Vista Danau Kota is within close proximity to a number of commodities, such as AEON BiG, The Palette by Platinum Victory, healthcare amenities and education institutions.
Another key development which was launched in 2020 was MH Platinum 2 Residences, a 4.72-acre project in Setapak, as part of Platinum Victory’s strategic business collaboration. It draws its inspiration from East and West influences where courtyard dwellings have historically provided privacy. This development in particular, provides residents a natural retreat from thermal heat, glare of the sun and bustling city life.
The high take-up rate generally reflected an uptrend industry-wide, driven by steady demand and supply for affordable housing among the country’s first-time housebuyers. In view of the current pandemic situation, Gan said the conversion rate has been gradual since financiers and lenders had adopted a cautious optimistic approach and imposed stringent loan criteria for housing loan facilities.
Exciting offerings in 2021
As a corporate citizen committed to be on the forefront of championing the development of value-for-money residential townships for all Malaysian city folks, Platinum Victory continues to enlarge its affordable homes footprint across the Klang Valley in 2021 and beyond. “The market for new home ownership especially among millennials, young families and new house buyers continues to grow steadily and drive demand for affordable housing here. As a property developer with reputable track record, we want to continue to meet the demand for good quality homes in prime locations!” Gan said, expressing hope that all stakeholders should continue to lend unwavering support towards the cause.
For more information, log on to www.platinumvictory.com or call +603 4108 8666.