DC Residency@Damansara Heights launching in Singapore this weekend!

GuocoLand Malaysia is launching about 60 units in DC Residency, the residential component of Damansara City, a luxury integrated development, for sale to Singapore buyers this weekend. 

This comes ahead of the actual launch in Kuala Lumpur next month, and presents "a last chance" to purchase these residences at lower prices of about RM1,400 ($518)psf on average - versus the listing prices of RM1,600psf.

DC Residency consist of two 28-storey residential towers with 185 units each. Units range from 899sqft one-bedders to 2,075sqft three-plus-one bedders.

For now, only one tower is for sale, and already, half of its 185 units have been snapped up even before the launch, via private placement. Units in the second tower will be only released for sales after the construction is completed.

The integrated development also comes with two Grade A office towers, a F&B-centric lifestyle mall and a five-star hotel run by The Clermont Hotel Group from London. These will be fully operational by mid-2016, but their units are not for sale.

The office towers are already 80% committed while the retail mall is 30 - 40% committed.

DC Residency will be the first phase to be completed, and buyers will get their keys at the end of 2015.

Damansara Heights, where the development is located, is an affluent suburb in western Kuala Lumpur, five kilometres from the city centre, sometimes dubbed the "Beverly Hills of KL". 

Properties there have seen valuations increase 8 - 12% over the past two years, and DC Residency is expected to garner net rental yields of 5 - 6%.

The entire integrated development has a gross development value of RM2.5 billion. GuocoLand Malaysia is also investing RM48 million to develop nearby infrastructure - specifically one flyover and one tunnel - to minimise congestion for the benefit of residents, office-goers, and shoppers.

A mass rapid transit (MRT) station is being built next to Damansara City, which the developer is in talks with authorities to connect the development to. The MRT station will be linked to this Singapore-KL high speed rail when the later is completed.

The special pre-launch sale will be held at The Island Suite, Marina at Keppel Bay, this weekend.

Source: BT

Forget Iskandar and Dunga Bay, DC Residency is one Malaysian residential development that is probably worth a "look-see". This is in view of its prime location, integrated-development concept and the future MRT station that will be linked to the high-speed rail. However the wife and I noticed that there is another condominium development next-door to DC Residency - Twins@Damansara Heights - and decided to research a little into this development. 

Twins@Damansara Heights was completed in 2010 and consists of 318 units spread over two 36-story towers. The current asking prices of 3- and 4-bedders units are around RM1,000psf while the monthly rentals being sought on the 3-bedders (1,500+sqft) are around RM4,000.

Then again, we are comparing a brand new development versus one that's already 5-years old. So it may not be exactly "apple-to-apple" but a relevant gauge nonetheless.

So for those who are looking to invest in Malaysia, it may be worth the trip down to Marina at Keppel Bay this weekend...

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