KUALA LUMPUR: NCT Development Sdn Bhd announced today it was launching a luxury serviced apartments project called Elemen in Genting Highlands, gross development value of its first phase estimated at RM230mil.

The company said it was signing a memorandum of understanding on Aug 1 with Best Western International, who would be managing the serviced apartments comprising three blocks, with built-up area of the individual units measuring between 866sq ft and 1,350 sq ft.

Prices are expected to begin from around RM730,000 for the smaller units.

NCT Development said apartments would be located at the highest point of the popular resort destination, some 1,800m above sea level. Set on a 10-acre piece of land, the Elemen project is expected to be developed over three phases with the entire project scheduled for completion in 2017.

The company said it 65% of its Phase 1 development had been booked, with international buyers showing strong interest.

NCT Development’s past projects include the medium-cost Bukit Rambai Idaman in Malacca and an abandoned project they took on in Salak Tinggi, which they plan to rename Salak Perdana – with the first units expected to be handed over from September next year.

A press conference will be held on Aug 1 to witness the signing between NCT Development and Best Western International. The event will also see the ground-breaking ceremony for Elemen, the company said.

Source: theStar.com.my

Subject: serviced apartments malaysia