KUALA LUMPUR: This weekend local real estate investment house Zerin Properties Sdn Bhd and London luxury property agent Saffron International will be showcasing the London project Royal Dockside at Docklands. The event will be held at Saffron KL, 73 Jalan Maarof, Bangsar, Kuala Lumpur.
Developed by London developer One Housing Group, the project comprises a series of luxury apartments and penthouses near the upcoming Asian Business Port and London City Airport.
Zerin Properties chief executive officer Previndran Singhe said the development is set to be the next big thing because of its prime location.
“The airport is most [important to] this development, apart from [the development] being a regeneration project,” he said. “People [nowadays] fly in and out for work. Here, the airport is just minutes away. I [believe] investors can expect high capital appreciation of about 30% in the next five years.”
“We liked the Chinese factor, the fact that the Chinese Business Park is literally on your doorstep (400m away) apart from being close to the University of East London and the Docklands Light Railway,” added Saffron director Monty Nawaz.
The Asian Business Port is the result of a deal involving London Mayor Boris Johnson, Chinese developer Advanced Business Park Holding Group and British developer Stanhope plc.
The site is to be redeveloped for an office complex, homes and shops owned mainly by Chinese companies.
The £34 million (RM183.67 million) Royal Dockside will feature 76 units with one- to four-bedroom homes. Prices are from £270,000.
Previndran and Monty said that while the year may start off slower compared with last year, they are optimistic it will gradually pick up with a 4% to 5% increase in London property prices.
The development is already 57% taken up from its previous launches last year in March (Hong Kong) and May (Kuala Lumpur). However, these were prior to the port’s approval.
The development will sit on 1.11 acres (0.44ha) of leasehold land and is due to be completed in the first quarter of 2016.
This article first appeared in The Edge Financial Daily, on January 9, 2015.