In a few years time, the skyline of KLCC would be redefined with the completion of many new and upcoming high rise developments, and one that would make it truly iconic would be the completion of the Troika. The glass-and-steel high rise residential structure by Bandar Raya Developments Berhad (One Menerung, Cap Square) is notably designed by world renowned Foster + Partners from the UK together with GDP Architects.

The end result is a truly spectacular piece of architecture. In my opinion, no one single development within the KLCC vicinity (upcoming or otherwise) could be on par with this truly iconic design. Not even OneKL which is currently the most expensive condo in KL with prices reportedly to have breached the RM2000psf mark could match the mighty Troika. The Troika was launched with the price tag of about RM920psf, and it is now reported to be averaging RM1800psf. Imagine the capital gains for early buyers! About 70% is sold now for the Troika and The Star reported last year that 4 of the 8 penthouses have been sold to foreigners with one of them is four-level, 21,000sqft “luxurious penthouse” whose current price is RM57mil (that’s about RM2,800psf!!)

Will cover more on The Troika on a separate post once I compile most of the information, but here is the latest progress photos of the development (as of 15th Feb) after the jump. The Troika is scheduled to complete in 2009 and I can’t wait to see it in all its full glory!

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By TEH LIP KIM (The Star)

TOP quality maintenance is what distinguishes good developers from their lesser brethren. No one wants to live in a property that is shabby and where the security is lax and the common facilities don’t work as they should. Thus, when investing in a stratified property as well as in gated and guarded communities, always consider what the quality of its maintenance will be like.

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By DAVID TAN (The Star)

PENANG: IJM Properties Sdn Bhd has about RM160mil of unbilled sales from its new property launches in Penang since November 2007. The amount was part of its total unbilled sales of some RM580mil, managing director Teh Kean Ming told StarBiz.

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Click for larger image

The 20trees at Melawati by one of my favourite developers, Selangor Dredging Berhad (SDB), was launched 3Q last year. Of course I couldn’t afford the landed ones, so my focus was obviously on the apartments. I already caught wind on this early last year when I was property hunting. I was totally mesmerised by what it could potentially offer: breathtaking view, streamlined façade, up-on-the-hill development, and a chance to own a place where your neighbours are millionaires! Decided to contact the sales team and they then sent the floor plans (DHL-ed it infact) here.

With that, I started to dream this as my first humble abode. Prices started at about RM500,000 for an entry level apartment for about 1,854 sq ft (prices have increased since). When it was finally officially launched, I decided to check out the location and the product itself.

Didn’t really like the area, as it proved to be way too far in. It says “10 minutes to KLCC” in its brochure, but for anyone to take 10 minutes to reach KLCC they must had to drive at middle of the night, definitely! The product in its flesh was a bit of a disappointment. Didn’t like how thick balustrades were, and bedroom 2 and 3 would have a view of the retaining wall. Irregardless, it does look impressive and the sales charts seem to prove this. I would say about 80% have been taken up. The leftover units have their bedrooms facing retaining walls (level 1 & 2) and few penthouse units.

More progress photo and sales chart after the jump.

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By ANGIE NG (TheStar)

PETALING JAYA: Kuwait Finance House (M) Bhd (KFH) is believed to have decided not to exercise the option on 97 apartments at the 210-unit Goodwood Residence development in downtown Singapore, given the softening in the city-state’s private residential property market.The apartments were supposed to be sold to a fund managed by KFH for US$818.4mil, or at S$3,000 per sq ft.

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