Ireka, Cosmos Plan to jointly manage KaMi Mont’Kiara

This article first appeared in City & Country, The Edge Malaysia Weekly, on December 10, 2018 - December 16, 2018.

KaMi Mont’Kiara offers 168 condos with built-ups of 840 to 1,600 sq ft. Photo by Ireka Corp

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Last Wednesday, property developer Ireka Corp Bhd and Japan-focused property management company Cosmos Plan Sdn Bhd entered into an agreement to jointly manage KaMi Mont’Kiara Residences — Ireka’s eighth development in Mont’Kiara.

The agreement was inked at the KaMi Mont’Kiara property gallery in Mont’Kiara, Kuala Lumpur.

Following the joint venture, Ireka and Cosmos formed a management company called KaMi Management Services Sdn Bhd on a 51:49 basis to manage the marketing, leasing and maintenance of the residences in KaMi Mont’Kiara.

“We are so proud to be working in partnership with Cosmos Plan because of their good reputation and track record of doing business between Malaysia and Japan. I am confident this alliance and collaboration with Cosmos will deliver the best to our KaMi Mont’Kiara property buyers and investors,” says Ireka group managing director Datuk Lai Voon Hon in a press statement.

Founded by its chairman Ishihara Shotaro, Cosmos Plan has provided services to Japanese expatriates and companies in Malaysia for the past 16 years.

With this arrangement in place, buyers of KaMi Mont’Kiara Residences will be ensured of attractive yields, a well-managed property and long-term capital gains, adds the press statement.

KaMi Mont’Kiara offers 168 condos with built-ups of 840 to 1,600 sq ft that were designed by local architectural firm BEP Arkitek in collaboration with Tokyo-based Nonscale Corp. The Japanese-inspired designs aim to create contemporary Japanese living spaces in Malaysia’s tropical setting.

Amenities in the development include an Onsen Spa, restaurant, Japanese convenience store and outdoor green spaces. The development will also be one of the few pet-friendly residences in the area.

According to Ireka, Mont’Kiara is the top choice for Japanese communities living in Kuala Lumpur. “We estimate that around 40% of the total Japanese community in KL are living in Mont’Kiara,” it says.

“As at last year, some 20,000 Japanese were living in Kuala Lumpur, including expatriates, Malaysia My Second Home residents and families whose children attend international schools in KL. The number has more than tripled since 2011 from around 6,300.”