http://www.businesstimes.com.sg/arch...ools-middle-kl

Published April 24, 2012

Enjoy beach pools in the middle of KL

Condo developers compete to stand out with 'lifestyle focused' concept facilities

By pauline ng

in Kuala Lumpur


KUALA Lumpur may not have a fancy sky-bridge lap pool a la Bishan's Sky Habitat, but residents at three condominium developments will be able to forgo going to the beach and instead head to their own beach pools next year as developers compete to stand out.

One such developer is Bukit Kiara Properties (BKP), which has marketed its facility as the Versilica Sky Beach because the beach pool is on the 37th floor - the upper-most level of its fourth and last tower, Vox.

Since then, other developers appear to have cottoned on to the idea. Two of them - UOA Development Bhd (Le Yuan Residence) and the Sunway Group (LaCosta) - are in the midst of building beach pools, triggering the race for bragging rights to the country's first condo beach pool.

"All three are now under construction, and everyone is seeing who will complete first. We can build faster because we have in-house construction people to do it," David Khor, UOA group chief operating officer of development, was quoted by The Sun Daily as saying.

Others see Sunway as having an edge because of its past experience in developing a theme park and surf pool.

Regardless of who finishes first, developers have assured buyers that everyone will benefit from the novelty of having their own city beaches.

Because sun, surf and sand seemed to dominate brainstorming sessions at BKP, the developer studied its feasibility carefully before deciding that it could be done. Expected to be completed by year-end, the sandy beach will cover some 370 square metres next to a 20m by 3m lap pool. Other facilities in the top two levels of the tower block include a bar, jet pool, garden and terrace.

Located in Mont Kiara, BKP's Verve Suites is a premium development because all top-floor and roof-top space of its four towers are transformed into "lifestyle-focused concept" lounge areas for residents in place of penthouses.

But this comes at a hefty price, and units of its last tower sold for an average RM1,225 (S$500) per square foot (psf). In contrast, UOA's Le Yuan Residence is priced from RM499 psf and Sunway's LaCosta at RM600-plus psf.

Because margins are fatter in high-end developments, it is the preferred segment for most builders. Tighter measures to curb speculation - the most recent being to test the credit worthiness of a borrower based on net rather than gross income - has led to a softening in demand for luxury high-end units.

Consequently, some developers are considering more affordable housing - a segment where demand is strongest - which would delight the authorities who are under pressure to provide more reasonably priced homes.

Even so, builders such as BKP are confident of achieving good take-up. On the back of its success in Mont Kiara, it is taking the Verve Suites concept to the Kuala Lumpur city centre.