Property

SINGAPORE: Global property consultancy Knight Frank’s Asia-Pacific Prime Office Rental Index for Q3 2024 shows prime office rents in Asia-Pacific are stabilising, falling 0.1% quarter-on-quarter, suggesting a potential bottoming out of the market. This trend is supported by growth in Indian markets, which exhibit strong and sustained demand from offshoring operations and domestic businesses. Key findings for Q3 2024: Sixteen out of the 23 monitored cities reported stable or increasing rents year-on-year, up from 15 in Q2 2024, with rents in Bangkok now posting an increase. Year-on-year, rents declined 2.5%, an improvement from the 2.8% drop observed in Q2 2024. Rental growth was led by Brisbane at 11.4% year-on-year. Cities on the Chinese mainland remain the primary driver of the region’s rental decline, with an 11% year-on-year decrease steeper than the 10.6% reduction in Q2 2024. Regionwide vacancies are stabilising, falling marginally 0.2 percentage points quarter-on-quarter to 14.8% to halt consecutive quarterly increases since Q2 2022. Tim Armstrong, global head of occupier strategy and solutions, says, “Global economic uncertainties have led to more cautious capital expenditure strategies among occupiers, favouring renewals and consolidating office footprints. When relocations do occur, companies are opting for smaller, higher-density spaces, aligning with cost mitigation needs and the growing acceptance of hybrid work models. While the business sentiment may improve as the Fed eases monetary policy, demand will continue to be tempered by prudent spending and workplace strategies focused on maximising space utilisation.   However, as the region’s development peak subsides, any significant uptick in leasing activity could rapidly tighten the availability of prime spaces. This scenario may accelerate the flight-to-quality trend as tenants seek to upgrade their portfolios in a potentially more competitive market.”   India’s thriving office market is key in driving regional growth, with Mumbai, Bengaluru, and the National Capital Region (NCR) setting consecutive quarterly records in Q2 and Q3 2024, as occupier demand remains strong in tandem with slow office supply. The growth is primarily fueled by two key segments: Global Capability Centres (GCCs) and India-facing businesses. Bengaluru stands out as a market leader with a 158% year-on-year increase in transaction volumes in Q3 2024.   While the Asia-Pacific prime office sector is expected to remain tenant-favorable in 2024, market dynamics may shift. The projected 20% decrease in the 2025 supply pipeline could gradually reduce availabilities, potentially creating a more competitive environment for prime spaces. Chistine Li, head of research, Asia-Pacific, Knight Frank, says, “Despite the delivery of over one million sqm of new supply, regional vacancy dipped marginally in the third quarter, which halted eight consecutive quarters of rises. Rental declines also moderated, dropping by just 0.1% quarter-on-quarter, which indicated that the rental downtrend in the region could be bottoming out. Overall rents in the region were held up by Indian cities, as occupier demand continued to remain robust in tandem with a slowing supply pipeline. While occupiers remain cautious, there is continued interest in newer and quality spaces that prioritise sustainability. Given lower new supply in 2025, vacancy rates can be expected to fall gradually. However, rental growth will remain subdued, with tech firms still right-sizing their headcount and intense competition for tenants in mainland Chinese markets.”

HONG KONG : Henderson Sunlight Asset Management Limited (the “Manager“) is pleased to announce that Sunlight REIT has achieved a four-star rating in the 2024 GRESB Real Estate Assessment (“GRESB Assessment“), the leading global environmental, social and governance (“ESG“) benchmark in the real estate sector. Mr. Wu Shiu Kee, Keith, Chief Executive Officer of the Manager, said, “We are delighted and honoured to have received a four-star rating in the latest GRESB Assessment – this recognition is a testament to the Manager’s unwavering commitment and ability to advance sustainability by integrating ESG values into the management and operations of Sunlight REIT. As a responsible landlord, we will continue to adhere to the overriding principle of striking a balance between profit, planet and people, and will strive to foster a culture of care and innovation to transit into a low-carbon economy and to create shared values for our stakeholders.” Incidental to the change of financial year end date of Sunlight REIT from 30 June to 31 December, the next sustainability report of Sunlight REIT will cover an 18-month period from 1 July 2023 to 31 December 2024. To keep stakeholders abreast of the latest progress, the Manager will shortly upload an interim sustainability review to the corporate website of Sunlight REIT, providing a snapshot of the sustainability performance of Sunlight REIT for the 12 months ended 30 June 2024. GRESB is a mission-driven and industry-led organization which provides a rigorous methodology and consistent framework to measure the ESG performance of real estate assets and portfolios. In 2023, more than 2,000 property companies, REITs, funds and developers with US7.2 trillion in assets participated, covering over 170,000 assets across 75 countries. Sunlight REIT has participated in GRESB Assessment since 2022.

CYBERJAYA: Oriental Interest Berhad (OIB) Group, in collaboration with Permodalan Negeri Selangor Berhad (PNSB), through its subsidiary, PNSB Construction Sdn Bhd (PCSB) unveiled Putra Idaman, a new affordable housing project that aims to support urban growth in Selangor.  The project under the Rumah Idaman programme, was officially launched by Selangor Chief Minister, YAB Dato’ Seri Amirudin Shari, in concurrence with a symbolic groundbreaking ceremony for Saujana Idaman, another Rumah Idaman project by OIB, which will be launched in the near future.  Rumah Idaman is a successful Selangor-government initiative to address the rising demand for quality, affordable homes in strategically located urban centers. The initiative offers units tailored for B40 and M40 Malaysians, particularly first-time homebuyers and small families seeking a foothold in the property market.  Located in Desa Pinggiran Putra, Putra Idaman spans 6.7 acres and has a gross development value (GDV) of RM125.5 million. Targeted for completion in 2028, Putra Idaman will feature two apartment blocks, offering a total of 502 semi-furnished units. Each unit is priced at RM250,000 and is designed specifically for low to middle-income families.  During the launch, Dato’ Seri Amirudin expressed his appreciation for OIB and PNSB’s dedication to delivering comfortable, quality homes with essential amenities, aimed at enhancing the well-being of Selangor’s residents.  He further remarked, “I am confident that the success of projects like Putra Idaman, Saujana Idaman, and other Rumah Idaman MBI developments, which offer affordable prices and location with good accessibilities, will greatly improve the quality of life for Selangor’s residents. These initiatives also present an appealing opportunity for our youth to become first-time homeowners.”  Executive Director and CEO of OIB, Low Kok Shen emphasised that the project is testament to OIB’s commitment to elevate homeownership opportunities for individuals and families from all walks of life.  “OIB currently has over RM1 billion of affordable housing properties in the pipeline under schemes such as Rumah Idaman and Rumah Selangorku with Putra Idaman being the first of many projects under the Rumah Idaman initiative.  “We believe affordable housing in Malaysia is not just an economic issue, it’s a societal imperative. Property developers have a vital role to play in shaping a future where homeownership is accessible to all.  Low added that affordable housing projects like Putra Idaman and Saujana Idaman are vital to support the inclusivity and sustainability in the growing townships of Putrajaya, Cyberjaya, and Dengkil, which have shown population growth rates almost three times the national average according to Malaysia’s 2020 population census.  Designed to meet the needs of modern lifestyles, each 1,002 sq. ft. unit features three bedrooms and two bathrooms; furnished with wardrobes, air-conditioners, water heaters, television with cabinet, kitchen cabinets, and a refrigerator. Each unit also comes with two parking spaces, adding another layer of convenience for homeowners.   Putra Idaman is set in a gated and guarded community, making it an attractive choice for those seeking a safe and well-planned living environment within a rapidly growing neighbourhood. Putra Idaman is easily accessible via a network of highways such as the MEX Highway, ELITE Highway and the South Klang Valley Expressway (SKVE), and the MRT Putrajaya line.  Low added: “Affordable housing is fundamental to building a thriving and equitable society. It offers individuals, families, and first-time homebuyers the stability and security needed to create a better future. We believe that Putra Idaman will provide more than just shelter – it will contribute to social advancement and strengthen the nation’s economic resilience.”  Chief Executive Officer of PNSB, YM Raja Ahmad Shahrir Iskandar bin Raja Salim remarked, “The launch of Rumah Idaman Putra Idaman is the second project launch for 2024 as scheduled by PNSB. The Rumah Idaman Putra Idaman and Saujana Idaman projects are two joint venture projects with OIB, with an estimated total of 1,360 units out of the 5,783 units planned for the Rumah Idaman development in the Sepang district. This development will undoubtedly add value to Mukim Dengkil.”  “We are very honoured to collaborate with OIB on this affordable housing project. This partnership not only aligns with PNSB’s commitment to in increasing public housing access but also demonstrates our dedication to deliver quality housing and value to the community. Through this collaboration, it has made a significant impact in providing affordable and high-quality homes for everyone.”   

KUALA LUMPUR: The Malaysian property market continues to grapple with significant challenges such as oversupply, high household debt, and affordability concerns. According to Kenanga Research’s October 2024 sector update, the outlook remains underweight, especially for larger developers whose stock performance is underwhelming. Despite these headwinds, mid-to-small-cap developers in the industrial and land sales segments are providing a stabilizing cushion amid the turbulence. Key Drivers of Stability: Industrial and Land Sales Industrial property and land sales are emerging as more resilient business models, driven by growing demand from sectors like e-commerce and logistics. Developers like MAHSING and Sime Darby Property are shifting focus towards these segments, which offer a reliable revenue stream compared to the beleaguered residential market. This strategic pivot allows developers to mitigate the risks posed by the affordability crisis and oversupply in the housing market. Government initiatives to attract foreign direct investment (FDI) have further bolstered industrial property demand, making it an area of growth even as other property sectors face stagnation. Residential Sector: Oversupply and Affordability Crisis The residential market continues to face an oversupply, with overhang units rising to 127,180 as of 2QCY24, a 3% increase from the previous quarter. This is compounded by rising household debt-to-GDP ratios, which have increased to 84.2% in 2023 from 81.0% in 2022, yet remain below pre-pandemic levels. While housing loan approval rates have improved to 47.2%, this improvement is largely in the affordable housing segment, where developers are targeting properties priced below RM500K. Despite efforts to provide affordable housing, younger Malaysians—particularly first-time homebuyers under the age of 35—are struggling to secure home loans. The gap between the median house price of RM335K and average monthly salary (RM3,000-RM3,500) makes homeownership unattainable for many, even in the affordable housing category. This has left many units, particularly those priced below RM300K, unsold, with the highest concentrations of overhang units in urbanized regions like Johor, Kuala Lumpur, and Selangor. Economic Outlook and Sector Resilience Inflationary pressures, particularly the potential rationalization of the RON95 fuel subsidy, could dampen consumer sentiment and spending power, which would further strain property demand. However, the appreciating Malaysian ringgit offers a silver lining, potentially easing some of the cost burdens for developers and consumers alike. Additionally, the stabilization of the Overnight Policy Rate (OPR) at 3.00% has reduced market uncertainty, offering some respite from earlier interest rate hikes. Developers are increasingly focusing on monetizing land near developed areas and prioritizing affordable housing projects. This strategic shift has allowed for some level of resilience, even in the face of persistent economic headwinds. The growth of transit-oriented developments in regions like the Klang Valley is also expected to gain momentum, providing a strategic response to rising living costs and household debt pressures. Top Picks and Future Outlook Kenanga Research’s top sector picks include MAHSING and MKH, both of which focus on affordable homes and transit-oriented developments that align with shifting consumer preferences. In contrast, Malaysian Resources Corporation Berhad (MRCB) was downgraded to Market Perform from Outperform due to its valuations catching up with its construction-driven growth prospects. In conclusion, while the Malaysian property sector faces considerable challenges, industrial property and land sales offer a reliable cushion. Developers’ shift toward more sustainable revenue streams, along with targeted strategies in affordable housing and landbank monetization, may help them weather the storm. However, the affordability crisis remains a significant issue, calling for more targeted interventions to resolve the growing overhang of unsold units.0

IJM Rimbayu proudly unveils Anthea, an architectural residential marvel that will redefine contemporary living with bespoke curation of grandeur and sophistication. Located in the vibrant heart of IJM Rimbayu, Anthea is nevertheless an oasis that assimilates green elements of tranquillity into a grand composition of opulent design. With 20.85 acres earmarked for Anthea and a projected Gross Development Value of RM 380 million, this illustrious and highly exclusive development offers 180 exquisitely crafted homes for the select few, including 90 Superlink and 90 Semi-D units. Priced from RM1.5 million and RM2.6 million respectively, Anthea is one of the last three parcels of high-end landed enclaves in IJM Rimbayu, presenting a rare opportunity to experience a lifestyle where sublime elegance and attention to detail harmoniously and holistically merges with its natural surroundings. “Anthea draws its inspiration from the ancient Greek symbol of flowering and blooming, embodying growth, beauty, and the vibrant energy of nature. This concept is deeply woven into Anthea’s design, creating homes where modern comforts do not impinge on nature but rather co-exist brilliantly within shared confines.  From its sophisticated architecture to its lush, breezy landscaping, every aspect of Anthea celebrates the harmonious relationship between contemporary living and nature, offering residents the home they so desire within nature’s embrace,” said Datuk Chai Kian Soon, Senior General Manager of IJM Land. Exquisite Design Anthea presents a distinguished array of home designs, built and crafted to cater to diverse preferences and urban lifestyles. The Superlink homes are offered in two exquisite variants: Type A and Type B. Both are designed with dimensions of 24′ x 80′, providing ample space and flexibility. The front-facing structure of the house is delectably adorned with aluminium panels, further enhancing the home’s exclusivity. Type A, ranging from 2,886 to 3,071 sq ft, includes three bedrooms with en-suite bathrooms and a guest room with a private garden at the rear. This home is also complemented by elegant glass-panelled windows and sliding doors that allow abundant natural light and air to enter the house. Type B, ranging from 2,992 to 3,237 sq ft, offers a dual master bedroom concept, a living room overlooking the verdant garden, and similar high-end flourishes. Both types come equipped with EV readiness status, and top-tier finishes to complete the infusion of luxury, functionality and sustainability. The Semi-D homes, measuring 40′ x 80′ and spanning 3,408 sq ft, offer an elevated living experience with four generously sized bedrooms, each with en-suite bathrooms. The master suite is akin to a spa retreat in your own home, featuring a sumptuous bathtub and dual basins. Inside, solid wood flooring exudes warmth and sophistication, while the textured courtyard influences and premium glass railings add a touch of quiet luxury.  Designed with the grandeur of a bungalow’s frontage aspect ratio, these Semi-D homes also include a powder room and a parcel drop-off box, enhancing both convenience and Anthea’s dedication to harmonising elegance with modern living. Residents of Anthea also enjoy access to exclusive amenities within the development, including a Multipurpose Hall for hosting community events, a full-fledged gym for fitness enthusiasts, and a surau for Muslim residents and visitors. These facilities complement the lifestyle requirements outside of the residents’ homes. Green Charter At the core is Anthea’s design philosophy, a “harmonious habitat,” that offers a luxurious living experience that integrates the vibrant energy of nature. Here, there are 11 unique landscape elements that offer a variety of enchanting spaces thoughtfully curated to enhance the living experiential journey.   Receiving top billing is The Enchanted Brooks, which meanders gracefully through the grounds, creating a serene atmosphere that residents can enjoy during workouts at the exclusive gym. The Poet Corner offers a space for reflection and inspiration, while The Chirping Garden provides a tranquil retreat with the blissful sounds of nature. Stylish Seating Corners and the timeless charm of Sundial Boulevard add to the elegance of the space. Majestic trees planted in the Tree Arboreal area and Book Nooks with Hammocks create cosy spots for relaxation.   Similarly, Buds and Blossom Avenue dazzles with vibrant floral displays, and the Log Gardens add a touch of rustic elegance. Nearby, the Tic Tac Toe feature introduces a playful element, and the Tricycle Track provides a fun and safe space for children. These elements create enchanting spaces that bridge the gap between indoor and outdoor living.   Additionally, just steps away from Anthea, the 6.3-acre Linear Park is a beautifully landscaped park accessible to all residents at IJM Rimbayu. Its thoughtfully designed spaces offer another serene environment for relaxation and recreation, complementing the vibrant surroundings of Anthea and the overall quality of life in the collective community.   Fusion of Luxury and Sustainability Anthea by IJM Rimbayu exemplifies modern sustainable living with its adherence to high environmental standards and long-term ecological benefits. With homes constructed with Green-certified materials, this development embodies the latest trends in eco-friendly components. Water-efficient sanitary wares and low-VOC paints not only reduce utility costs but also enhance indoor air quality, reflecting a priority towards wellness and clean living. PV solar panels have been installed for the Semi-D units, further enhancing energy efficiency and sustainability within these homes.   The landscape design also supports biodiversity, featuring vibrant spaces that enrich the community and contribute to ecological balance. By integrating diverse habitats and sustainable practices, this development meets the burgeoning demand for homes that harmonise with nature, fostering a thriving environment.   Every material used elevates the sensory experience of residents. Elegant glazing frames stunning views, seamlessly blending indoor spaces with the natural landscape. Exquisite tiles add a touch of opulence, while timber flooring on the upper levels alludes to the surrounding tree canopies for an exceptional living experience.   Visual Flair   Anthea is situated just adjacent to The Club @ IJM Rimbayu, granting residents access to a suite of premium amenities. These include an Olympic-sized swimming pool, badminton and squash courts, a state-of-the-art gym, a soothing sauna, and a lively karaoke room. As a value-added benefit, Anthea homebuyers will

The sector only accounts for 6% of property investment volumes, but it’s expected to be a significant growth driver in the region. The living sector in Asia Pacific, encompassing student housing, co-living, serviced apartment, rental housing/multifamily, and senior living, is attracting investor attention, driven by growth of the region’s expatriate population, low homeownership affordability, and the effectiveness of rental residential investments as an inflation hedge, according to the latest research by CBRE. While the living sector in Asia Pacific is still in its early stages, accounting for only 6% of commercial real estate investment volumes since 2019, compared to 27% in Europe and 44% in the U.S., there is a vast opportunity for investors looking to diversify their portfolios across the region. “We expect potential interest rate cuts will drive capital deployment and consolidation opportunities,” said Greg Hyland, Head of Capital Markets, Asia Pacific for CBRE. “With strong market fundamentals and resilient demand, the living sector offers institutional investors and private equity fund managers the opportunity to diversify their portfolio.” Leading the region in living sector investment volumes is Japan, with its multifamily sector being the most developed market, attracting institutional capital, REITs, and global investors. Australia and mainland China follow as the second and third biggest living sector investment markets, while Hong Kong SAR, Korea, and Singapore are also gaining attention, particularly for serviced apartments and student housing, due to the influx of non-locals and expatriates, as well as rising rents. Elevated residential prices are driving the growth of rental housing in Asia Pacific, with the ratio of the median private housing price to annual household income significantly higher in Asia compared to the U.S. The rise in the expatriate population in Asia Pacific post-pandemic is further boosting the demand for rental housing and providing a solid foundation for investment in the living sector. Over the long run, growth in residential rents has generally outpaced inflation in the broader economy. This indicates that rental housing investment provides a good hedge against inflation. In Asia Pacific, leases for office, retail and logistics spaces typically run for three to seven years or above, while rental housing leases usually last for one to two years. The shorter lease tenures in rental housing allow for more frequent rent adjustments. “Although multifamily comprises the majority of living sector investment in Asia Pacific, a significant portion of investment flows into niche subtypes such as co-living, student housing, and senior housing,” said Ada Choi, Head of Research, Asia Pacific for CBRE. “The living sector offers attractive investment opportunities compared with other asset classes. For example, in Tokyo the yield spread for multifamily over office assets is 50-55 basis points. Investors are also exploring opportunities in Purpose-Built Student Accommodation (PBSA) in Australia and hotel conversions in Hong Kong SAR to cater to their substantial international student population and high occupancy rates.” –REAL ESTATE ASIA

Taiwan’s central bank increased the amount of funds banks must hold in reserve to rein in the sizzling property market, while keeping its benchmark interest rate at the highest level in 16 years. The monetary authority raised lenders’ reserve requirement ratio by 25 basis points at its quarterly meeting on Thursday. It also announced more targeted measures to try to address the rising cost of homes. Central bank Governor Yang Chin-long said the RRR move — which follows a similar boost in June — would reduce bank liquidity by NT$125 billion ($3.9 billion). The central bank left borrowing costs at 2%, a move that contrasts with a global shift toward rate cuts after the Federal Reserve lowered its benchmark interest rate by a half percentage point. All but one of the 29 economists surveyed by Bloomberg News predicted the hold. The move by the Central Bank of the Republic of China, as the monetary authority in Taipei is officially known, to raise the RRR at the second straight meeting underscores its concern about property prices. Housing costs in the archipelago of 23 million people have risen for 23 straight quarters, according to government data, the longest run on record. “It was a pretty hawkish message from the CBC,” said Michelle Lam, Greater China economist at Societe Generale. “The question though is whether the measures will work to curb the housing market and what more they could introduce.” Yang said at a briefing after the CBC’s moves were announced that “we need more serious measures in special times.” “We need to let the market know property prices won’t continue to surge,” he added. Yang also said that the CBC is checking with 34 banks around Taiwan to rein in mortgage loans. Last month, the monetary authority met local banks to convince them to cool property-related lending, warning it was prepared to take action. The CBC’s tighter home-buying rules included expanding a curb on the amount of money people can get for mortgages to buy second homes so that it is in effect around the archipelago. This marked the seventh time since the end of 2020 that the central bank moved to tighten selective credit controls — measures aimed at improving the quality of loans in a given sector. Earlier this month, official data showed Taiwan’s consumer prices increased 2.36% in August, more than expected and drifting higher than the central bank’s 2% stated comfort level. Minutes of the central bank’s meeting in June later showed disquiet that rising rents were fueling inflation. –BLOOMBERG

JAKARTA: The property crisis in China has not yet ended. Currently, house prices in the country are continuing their downward trend, even slightly faster in August 2024, the effect of the fading of the latest plans regarding rescue from the property crisis. China’s National Bureau of Statistics in its data, Saturday, September 14 2024, reported that new house prices in 70 cities in China, excluding state-subsidized housing, fell by 0.73% from July 2024, following a decline of 0.65% a month earlier. “The value of used homes fell 0.95%, compared to a decline of 0.8% a month earlier,” the report said, citing Bloomberg, Sunday, September 15 2024. These data highlight China’s efforts to overcome the property crisis at a time when deflationary pressures are adding to the gloomy economy. In fact, the Beijing government’s efforts to spur domestic demand have done little to help the housing market recover, jeopardizing the government’s growth targets and prompting economists to call for additional stimulus. The prolonged decline in property values ​​has made home buyers reluctant to spend money. Instead of buying homes, buyers are waiting for further price drops. Research Director at China Index Holdings, Chen Wenjing, said only a few large cities were likely to see an increase in home buying activity. “There is still great pressure for new house prices to continue to fall,” said Chen Wenjing. Policy makers have taken steps to boost demand for home buyers this year. These steps include reducing Public Housing Credit borrowing costs and easing purchase restrictions. However, signs of sales recovery in June 2024 proved short-lived as property buyers anticipated new home prices would fall further. Beijing’s campaign to buy up unsold homes to reduce oversupply has seen slow implementation, largely driven by economic plans that are unappealing to local governments. Head of China Property Research at CGS International Securities Hong Kong, Raymond Cheng, said that home sales remained weaker than expected. “If this problem is not resolved, property prices and transaction volume contraction will continue,” he said. Meanwhile, shares of Chinese developers have slumped further into a bear market. Bloomberg Intelligence shows a decline of more than 40% from its highest point in mid-May 2024. To Bloomberg, a source familiar with this matter said that China is ready to cut interest rates on outstanding public housing loans worth more than US$5 trillion, as early as this month , as the government accelerates steps to spur consumption. However, Raymond Cheng believes that the impact of this policy will not have a big impact on the property market even though it can help household income and consumption. –ASIATODAY.ID

KUALA LUMPUR: Radium Development Berhad (“Radium”) officially opened the Radium Arena sales gallery today, unveiling its exciting upcoming project. Strategically situated on Old Klang Road (“OKR”), this development marks a significant milestone in the company’s portfolio, blending the area’s rich history with contemporary urban living. With a Gross Development Value (“GDV”) of approximately RM550 million, Radium Arena offers a unique blend of urban comfort, convenience, and sustainable living. The project recently earned the Provisional GreenRE Certification (Gold) for its sustainable design and innovative green features. Targeted for completion in the fourth quarter of 2028, the development has already garnered considerable market anticipation. During the official opening, Radium Development Berhad Chief Marketing Officer Mr. Kenneth Khoo stated: “This project is particularly close to our hearts because it holds a beautiful duality — preserving the rich heritage and charm of Old Klang Road while seamlessly blending it with the pulse of modern urban living. We envisioned Radium Arena as a place where the past meets the future, where residents can celebrate the traditions of this cherished neighbourhood while embracing a contemporary lifestyle.” Set on 3.03 acres of prime freehold land, Radium Arena features two 40-storey blocks with 988 well-designed residential units. Options range from cozy 2-bedroom, 2-bathroom units at 658 square feet to spacious 3-bedroom, 2-bathroom dual-key units measuring 920 square feet, with one or two carpark bays, catering to various lifestyles. Security is a key focus, with a comprehensive 3-tier, 24-hour system ensuring residents’ peace of mind. Enhancing the living experience, the development offers extensive amenities on the eighth-floor deck and rooftop. Level 8 facilities include an infinity pool, aqua gym, garden pavilion, BBQ area, jogging path, golf simulator, yoga studio, and versatile meeting and event spaces. Rooftop amenities on Level 40 feature an urban farming area, yoga deck, and private lounge area with panoramic city views. Radium Arena’s prime location offers direct access to Jalan Klang Lama and major highways, ensuring seamless connectivity to areas such as Jalan Gasing, PJ State, Petaling Jaya, Sunway City, Subang, Puchong, Taman OUG, Bukit Jalil, Sri Petaling, Bangsar, and Brickfields. Nearby healthcare facilities and recreational venues include Assunta Hospital, KMI Taman Desa Medical Centre, Beacon Hospital, Mid Valley Megamall, Pearl Point Shopping Gallery, Pavilion Bukit Jalil, Bloomsvale Shopping Gallery, and Sports Arena Sentosa. Elaborating on the project, Radium Development Berhad Group Managing Director Datuk Gary Gan said: “Our broader mission at Radium is to build more than just structures; we build communities. Radium Arena, with its cohesive blend of the past and the future, is a reflection of our commitment to creating spaces where heritage and modernity coexist, fostering a sense of belonging for all. This development meets the growing demand for competitively priced homes near the city centre and aligns with our mission to provide quality homes that cater to the aspirations of Malaysians from all walks of life.” Radium Arena, offering unparalleled comfort, convenience, and connectivity, is expected to appeal to first-time home buyers, young professionals, upgraders, and discerning property investors seeking a modern sanctuary in a storied Kuala Lumpur neighbourhood. Radium anticipates launching Radium Arena @ Old Klang Road by the end of October 2024. To explore this opportunity, visit the sales gallery, call the dedicated sales team at +603 2787 7900, or visit Radium Arena.