Nestcity Group is looking to launch the condominium component, Nestree Residences, at NestVille in the first quarter of next year.
According to executive director Datuk Kwong Jee Kong, the 6.71-acre leasehold Nestville in Bukit Kerinchi will comprise three components — Residensi Wilayah, condominiums and stratified landed homes — on three lots.
Nestree Residences offers 637 units in two wings in a 40-storey block on a 2.1-acre plot. Kwong says each wing comes with its own lift lobby and there is no access between each wing.
“Typical units come in four layouts of 1,050, 1,162, 1,275 and 1,582 sq ft. We also have penthouses of more than 4,000 sq ft. The development order for the project has been approved, so we plan to unveil it in 1Q2022,” he tells City & Country.
“For Nestree Residence, we are targeting mid to high-income earners and investors, owing to its strategic location next to Bangsar South and near Mid Valley City. People are still looking for houses, especially in the Klang Valley, and pricing and location are the main factors. Our units are priced around RM625 psf, or from RM659,000, and this pricing is considered affordable for that area.”
Facilities include a gymnasium, lounge, swimming pool, children’s pool, Jacuzzi, children’s playground, sky garden, pavilion, water play, barbecue pit, sauna, multipurpose hall, games room, art room, dance studio, yoga studio and sky terrace. The project is scheduled for completion in 2025.
Meanwhile, its Residensi Alamanda apartment — which is part of Residensi Wilayah, the state government affordable home scheme, previously known as
RUMAWIP — will offer 678 units on a 2.15-acre plot. Each unit is sized 815 sq ft and comes with three bedrooms and two bathrooms.
Kwong notes that these units are priced from RM300,000 to RM318,000. A typical unit with one parking bay costs RM300,000.
“Units that come with two side-by-side parking bays are priced at RM318,000 whereas units with two tandem parking bays are going for RM315,000. We are signing the SPAs [sale and purchase agreements],” he says.
Residensi Alamanda has a gross development value of RM205 million and facilities include a gymnasium, lounge, swimming pool, children’s pool, Jacuzzi, children’s playground, sky garden and multipurpose hall. It is scheduled for completion in 2024.
The final phase of NestVille is called City Villa, which will offer 42 stratified landed homes on a 2.5-acre plot. These 3-storey units will have built-ups of 3,000 to 5,000 sq ft and be priced from RM2.5 million to RM5 million. City Villa will be launched in 2023.
Nestcity plans to launch a new project in Shah Alam in 2Q2022. Dubbed Crystal Residences, it is a small office/home office (SoHo) development near the Padang Jawa KTM station. Offering 1,000 units in two blocks, this project will sit on a 3-acre plot.
Its facilities include a gymnasium, lounge, swimming pool, children’s pool, Jacuzzi, children’s playground, sky garden, sky deck, futsal court and multipurpose hall.
“Crystal Residences is an affordable SoHo development, and each 450 sq ft unit will be priced at RM230,000. We are targeting investors and first-time homebuyers for this project,” he says.
Nestcity is also known for The Nest Residences and Nest 2 Residences on Jalan Puchong. The Nest Residences was handed over to its buyers in February 2019; and Nest 2 Residences was launched last year.
The RM220 million mixed development Nest 2 Residences comprises serviced apartments, hotel suites and offices. The serviced apartments have been fully sold. Currently, the developer’s land bank stands at 12 acres in the Klang Valley.