Strong demand for Malton's The Park 2 Pavilion, Bukit Jalil

BUKIT JALIL (Aug 17): Malton Bhd expects units in Tower 1 and Tower 2 of its luxury serviced apartment project, The Park 2 Pavilion Bukit Jalil to be fully taken up by year-end, Bernama reported today.

Malton executive director Hong Lay Chuan said the take-up rate for its 50-storey Tower 1 stood at 90% while Tower 2 recorded 70%.

"To meet the strong demand from buyers, we have decided to launch the 52-storey Tower 2 earlier," Hong told the media after the launch of Tower 2 by Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor here, Bernama reported today.

The freehold The Park 2 has an estimated RM720 million gross development value (GDV), and comprises 385 and 324 serviced units in Tower 1 and Tower 2, respectively.

The units’ built-ups range from 750 sq ft to 1,570 sq ft, will be partly furnished with quality fittings and priced from RM630,000 onwards. 

The Park 2 would be linked by a covered bridge to Pavilion Bukit Jalil Mall, which is set to be opened in 2020.

The Park 2 and Pavilion Bukit Jalil are part of Malton's 20.23ha Bukit Jalil City development. The integrated lifestyle project has an estimated GDV of RM4 billion.

Meanwhile, Pavilion Kuala Lumpur Retail CEO Datuk Joyce Yap said the Pavilion Bukit Jalil was expected to record RM1.7 billion in sales revenue in the first year of its operation, Bernama reported. 

"We plan to bring in at least 10% to 20% new brands and new concepts to excite the market, and over 900 prospective tenants have already registered," she said.