The recent announcement by KSK Land that a high net-worth individual had snapped up the RM30 million sole penthouse unit perched on the 65th floor of the Kempinski hotel tower of the iconic 8 Conlay branded residence in the heart of Kuala Lumpur’s Golden Triangle, has set a new benchmark for property in Malaysia.
This announcement came just weeks after KSK Land announced the structural completion of Tower B of 8 Conlay’s twin branded residence, YOO8 serviced by Kempinski (YOO8).
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In a press statement, KSK Land stated that the excited buyer was said to have decided on the 8,742 square-foot residence as it offers stellar 360-degree view of the city, Kempinski hotel services and strategic location in central Kuala Lumpur.
It was reported that the penthouse was purchased by a foreign buyer, however, KSK Land did not reveal any further details as it holds the privacy of the investor as a paramount concern.
Joanne Kua, CEO of KSK Group and Managing Director of KSK Land, said, “We are now seeing an uptick of market interest in ultra-luxury Malaysian properties such as YOO8, from buyers at home and abroad. Locally, we’ve recorded a 10 per cent growth in local buyers shifting the ratio from 30 per cent to 40 per cent in the past few years. This has been driven by disruption in international markets resulting in high net-worth individuals looking at Malaysia’s property market as a safe haven.”
To commemorate the structural completion of Tower B of 8 Conlay’s twin branded residence, YOO8 serviced by Kempinski (YOO8), KSK Land revealed a unique photo series titled ‘Height of Anticipation’ featuring panoramic views of Kuala Lumpur iconic landmarks was undertaken, set in two actual units from one of Tower B’s top floors. The stylish photo series marks a moment of celebration – both the steady progress of 8 Conlay, as well as more symbolically, the city of Kuala Lumpur as an emerging metropolis.
“Following the structural completion of YOO8 Tower A late last year, we’re extremely happy that 8 Conlay continues to progress steadily, and we have now topped out and completed the structure of YOO8 Tower B. We wanted to celebrate the structural completion differently by stirring the imagination and to present a glimpse of Kuala Lumpur as you have not seen it – from over 800 feet above the ground. Our owners appreciate the finer things in life, and we wanted to iterate that by featuring the origami bathtub – Kelly Hoppen’s signature piece in collaboration with luxury Australian bathware brand, apaiser – amidst a stunning million-dollar view,” expressed Kua.
KSK Land is expecting the completion of YOO8 Tower A by early 2023 and subsequently, YOO8 Tower B by the end of 2023. This will be followed by the completion of the retail podium, expected within the first half of 2023 while the 8 Conlay Kempinski Hotel is expecting completion within the first half of 2024. To date, the twin branded residence towers have achieved a sold gross development value (GDV) of over RM1.56 billion (~USD355m) with YOO8 Tower A at an 80 per cent take-up rate while Tower B at 40 per cent.
Kua said, “The demand for branded residences in Asia has remained resilient despite events in recent years. We foresee that this will continue to gain traction as the world reopens its doors to international travel.”
She added, “YOO8 at 8 Conlay continues to appeal to investors who are keen to diversify their investment portfolio with branded residences, for the project’s high built quality, integrated luxury lifestyle services and amenities and premium property management honed by Kempinski, which will ensure YOO8’s steady capital appreciation. Adding to that, its central location with hyperlocal connectivity to the city’s commercial and tourism landmarks.”
The show units for YOO8 Tower B designed by Kelly Hoppen for YOO are available for viewing at the 8 Conlay Sales Gallery located in Bangunan KSK, Jalan Yap Ah Shak, Kuala Lumpur.
For more information, visit KSK Land and 8 Conlay’s websites: kskland.my and discover.8conlay.com. 
