Aset Kayamas' Hamilton project sold out in less than four hours

KUALA LUMPUR (Jan 20): Aset Kayamas Sdn Bhd's Hamilton condominium project in Wangsa Maju, Kuala Lumpur has been fully taken up in "three hours and 45 minutes" during its preview last weekend. 

"Priced RM498,000 onwards, all 435 units have been taken up in less than four hours. 

"We're really happy about that, it is a good start for us for 2017," said Aset Kayamas managing director Tan Sri Chai Kin Kong (pictured) at a press conference held before the company's annual dinner tonight.

Kin Kong added that the pricing of Hamilton is very "attractive and affordable", hence the overwhelming response. 

"Most buyers were between 30 and 40 years old, and we expect most of them to be owner-occupiers," he added. 

The built-up sizes at Hamilton range from 1,000 sq ft to 2,200 sq ft, while the leasehold project’s gross development value (GDV) is RM250 million. 

Meanwhile, Aset Kayamas will top off its Parkhill Residence project, 1Malaysia Civil Servants Housing (PPA1M) in Bukit Jalil and Residensi SentulMas, a Federal Territories Affordable Housing (Rumawip) project in Sentul, by June. 

Launched in 2014 and slated for completion by 2018, Parkhill Residence, a condominium project with a GDV of RM750 million, features 2,500 units. It has recorded a take-up rate of 99% as of today. 

The PPA1M project has a GDV of RM356 million and offers 1,536 condominium units for civil servants.

Kin Kong added that Residensi SentulMas is fully sold out and the project has a GDV of RM105 million. 

According to executive director Michael Chai, the developer is finalising plans to develop the parcel of land along Taman Danau Desa, Old Klang Road.

"We will rebrand that piece of land to Desa Valley and we are 80% done with finalising the details of the entire project. We will announce it when due," said Michael. 

He added that the GDV of Desa Valley will "not be less than RM7 billion". 

Meanwhile, the developer has achieved a total sales of RM2.5 billion for 2016. 

On the market outlook, Kin Kong is optimistic about the situation.

"Everyone is still buying homes, and for us, building affordable homes and helping young homebuyers to own their dream home have always been our priority," he said. 

Kin Kong also launched his own charity foundation at the annual dinner — the Chai Kin Kong Foundation will fund needy students. 

"Everyone, regardless of their education level — primary, secondary or tertiary can apply for this," he said. 

Up to RM3 million has already been injected into the fund by Aset Kayamas and its subsidiaries.

Donation rights for the foundation are only reserved for the developer and its subsidiaries.