Since the launch of Lavile KL’s last tower — Cheerz — in Lorong Peel, Taman Maluri, Cheras, on Oct 10 last year, Orando Holdings Sdn Bhd has sold only 25% of the units. However, the developer is confident that there will still be demand, owing to the project’s strategic location and freehold tenure.
“The project’s prospect for capital gain is high; it is expected to appreciate at least 15% in the next five years. The Real Property Gains Tax exemption, together with the low-interest-rate regime, will also encourage more buyers to invest in real estate,” says managing director Datuk Eng Wei Chun in an email.
Lavile KL, which has a gross development value of RM1.8 billion, will have a total of 1,278 units in four towers and 35 shops on a 3.79-acre freehold parcel. Towers A1 and A2 — comprising a total of 740 units — were launched in 2017 and are 98% taken up, while Tower B — consisting of 266 units — was launched in 2019 and is 93% sold.
According to the developer, Lavile KL is based on the concept of la ville du quart d’heure, a 15-minute city/neighbourhood framework developed by Paris-based professor and urbanist Carlos Moreno that aims to improve the quality of life for city-dwellers. The framework focuses on providing residents with access to their daily needs within a 15-minute radius from home.
Cheerz comprises a 38-storey tower with a total of 248 residential units. Priced from RM910,000, the units will come in 2- and 3-bedroom layouts with built-ups of 750, 864 and 961 sq ft and are expected to be completed in June 2022.
There will also be 24 studio suites that are not for sale. “These units will be available for residents to rent for their guests. The units will be managed by us and can be rented on a daily, weekly or monthly basis,” says Eng.
Cheerz will take a longer time to sell as it caters to a niche market. The developer is targeting 70% local buyers and 30% foreigners for this project. “We have started selling the units in Hong Kong and Singapore, where there is demand for overseas properties. The units will be suitable for foreigners looking to live, work and educate their children in Malaysia, as well as for use as a holiday home that will also be a future investment,” explains Eng.
Expanding to overseas markets, he adds, will help the company establish a global reputation to attract new customers and build brand recognition and credibility internationally.
The shared facilities for all four towers include a 52m lap pool, children’s play area, basketball court, badminton hall, floating gymnasium, sky lounge and roof garden. The maintenance fee is 35 sen psf per month.
Nearby amenities include the Prince Court Medical Centre, Hospital Universiti Kebangsaan Malaysia, AEON Cheras, Ikea Cheras, MyTown Shopping Centre, the Cheras police headquarters, UCSI University and Cempaka International School.
Lavile KL is also located near the Maluri light rail transit and mass rapid transit interchange station. It is easily accessible via the Sungai Besi Highway, North-South Expressway, Maju Expressway, Middle Ring Road 2, Jalan Tun Razak, Jalan Loke Yew, Jalan Cheras, Jalan Peel and Jalan Jejaka.