This article first appeared in City & Country, The Edge Malaysia Weekly on October 5, 2020 - October 11, 2020
Orando Holdings Sdn Bhd is set to launch Cheerz — the last tower of Lavile KL — on Oct 10. The mixed-use development comprises four towers with a gross development value of RM1.8 billion. Located on a 3.79-acre freehold parcel in Lorong Peel in Taman Maluri, Cheras, the project will comprise 1,278 serviced apartments and 35 shops.
The 38-storey Cheerz will feature 248 residential units with built-ups of 750, 864 and 961 sq ft in two- and three-bedroom layouts; prices start from RM910,000. Cheerz is about half-completed and scheduled to be ready in June 2022.
The 48-storey Towers A1 and A2 were launched in 2017 and are 95% taken up. They will house a total of 740 units and are expected to be completed in August 2021. Owing to the good response to the towers, the 40-storey Tower B was opened for sale in early 2019 and is 85% sold. It will comprise 266 units and is slated for completion in February 2022.
“All four towers sit on a platform and share the same common facilities. As the earlier three towers were already under construction and since the company had adequate funding, we decided to proceed to construct Cheerz before the sales launch to enjoy economies of scale,” says managing director Datuk Eng Wei Chun in an email.
“The registration of interest for Cheerz was earlier planned for March but was deferred because of the Movement Control Order (MCO). This is also good for the buyers, as the risk of project abandonment is reduced.”
Cheerz will also comprise 24 studio suites, which are not for sale. Eng says these units will be available for residents to rent for their guests. The units will be managed by the developer and can be rented on a daily, weekly or monthly basis.
“Orando’s main focus this year is on products priced above RM800,000. Our properties will also be targeted at the overseas market, such as Hong Kong and Singapore, where buyers will purchase a holiday home that will pay off as a future investment,” says Eng.
As the group was unable to market or sell its products the conventional way during the MCO period, it resorted to digital online marketing. “We have also worked closely with our marketing agencies in Hong Kong and Singapore to promote our properties via webinars. By doing so, this will ensure the group’s brand is always visible,” says Eng.
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, where daily necessities are within a 15-minute reach whether on foot or by car, which acts as the key to a green and pleasant urban life.
“The project is built around six basic social functions — live, work, supply, care, learn and enjoy. If residents’ needs are fulfilled, they will be happier and more willing to protect the community as well as form better relationships with one another,” Eng explains.
Despite the current challenging market conditions, the group is confident there will be demand for Cheerz, as it is one of the last parcels with freehold tenure in the vicinity. Eng notes, however, that this development will take a longer time to sell, as it caters for a niche market.
“For our previous three towers, about 70% are local buyers and the remaining 30% are foreigners. As such, we are aiming to achieve the same mix of buyers for Cheerz that will focus on local buyers from the Klang Valley and foreigners from Hong Kong, China and Singapore.
“We want to build high-quality homes for people to live comfortably. Our properties are carefully designed with customers in mind and prioritise sustainability and social connection. We endeavour to provide exceptional living experiences through the pursuit of quality and care in every detail.”
The shared facilities of all four towers include a 52m lap pool, basketball court, badminton hall, sky lounge and floating gymnasium. The monthly maintenance fee is 35 sen psf.
Surrounding amenities include Sunway Velocity, AEON Cheras, IKEA Cheras, MyTown Shopping Centre, UCSI University, Cempaka International School, SMK St Gabriel, Hospital UKM and Prince Court Hospital. The public transport hub within a 1.5km radius includes the Taman Maluri LRT and MRT interchange station.
In terms of connectivity, Lavile KL is easily accessible via the North-South Expressway, Maju Expressway, Sungai Besi Highway, Middle Ring Road 2, Jalan Tun Razak, Jalan Loke Yew, Jalan Cheras, Jalan Peel and Jalan Jejaka.
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