Following the success of its first project, Novum in South Bangsar, and then Parc3 in Cheras, Kedah-based developer Eupe Corp Bhd plans to launch its third Kuala Lumpur project, Est8 in Seputeh, this month.
According to group managing director Datuk Beh Huck Lee in an interview with City & Country, Eupe Corp envisions Est8 as a haven of security, success, serenity, and style, as well as an escape from the city just outside its walls.
“The name was inspired by a vision for creating an estate and a point of distinction in terms of a distinct lifestyle offering.” The design intent was inspired by fantasy, fairy tales, and imagination to elevate the state of mind, where you can escape to a place that gives you a sense of calm, tranquillity, and peace. That’s how the name Est8 (a state) came about.”
Est8 has a gross development value (GDV) of RM575 million and is located on a 2.9-acre leasehold parcel near The Japan Club. There will be a 42-story tower, a 41-story tower, and a 2-story block. There will be a total of 821 residential units: 432 in Tower A, 372 in Tower B, and 17 in Block C. Est8 will have 1,274 parking spaces, with each residential unit receiving one to three spaces.
Est8’s typical units will have two or three bedrooms and built-up areas ranging from 753 to 1,084 square feet. Meanwhile, the duplex units will have 2-, 3-, and 4-bedroom layouts with built-ups ranging from 1,213 to 1,947 sq ft and will include a private garden.
The 1- and 2-bedroom villas will range in size from 543 to 975 square feet, with some featuring a private garden, while the dual-key units will have a 2-bedroom layout and measure 753 square feet. The 2-bedroom duplex villas, which will only be available in Block C, will have private gardens and built-up areas ranging from 914 to 1,175 square feet.
Prices start at RM530,000 or RM850 per square foot, and the project is expected to be completed by 2025. The monthly maintenance fee is tentatively set at 50 sen psf.
“Units at Est8 will feature practical and spacious layouts catering for families, young professionals, upgraders, downsizers, couples, singletons, investors, and buyers from nearby areas such as Brickfields, Taman Bukit Desa, Taman Bukit Angkasa, Taman Desa Seputeh, Taman Desa, Taman Halimahton, Petaling Lama, and Old Klang Road,” says Beh.
He believes the development’s prospects are favourable because of its proximity to the KL city centre and shopping malls such as Mid Valley Megamall, Nu Sentral, KL Gateway Mall, Bangsar Village, and Bangsar Shopping Centre; educational institutions such as Valley International School, Methodist College Kuala Lumpur, SMK Taman Desa, Tsun Jin High School, and University of Malaya; and healthcare facilities such as iHeal Medical Centre, Pantai Hospital Kuala Lumpur, and Ta
Within a 5-kilometer radius are the Seputeh and Mid Valley KTM stations, as well as the Abdullah Hukum and KL Sentral LRT stations.
Beh emphasises the neighborhood’s central location. “It is easily accessible via the Federal Highway, SMART Tunnel, East-West Link Expressway, New Pantai Expressway, Sprint Expressway, Kuala Lumpur-Seremban Expressway, Maju Expressway, and the currently under construction Setiawangsa-Pantai Expressway (DUKE 3).”
Post-pandemic features and facilities
Eupe Corp intends to include special features in the project that will help to limit the spread of Covid-19. An active drainage ventilation system ensures that the water seal in bathrooms, floor trap, and sink trap are always filled and sealed.
According to Beh, an efficient drainage system design manages the mix of air and water to control the air pressure regime within the boundary. This reduces the spread of potential pathogens and other harmful particles in the air and reduces residents’ exposure to contaminated fluid.
It ultimately improves piping efficiency and is a more sustainable approach to building design.
Est8 will feature five sky gardens, including Floating Garden, Cloud Maze, and Flutter Meadow on levels 25, 29, and the rooftop in Tower A, as well as Paradise Blue and Garden of Giants on levels 28 and 36 in Tower B. “We integrated these gardens into the development so that its urban art becomes part of the building, similar to a frame that showcases art in a realistic setting,” Beh explains.
He also mentions three walking trails, The Relaxing Walk, A Walk in the Woods, and The Enchanting Walk, which will be located on the ground, ninth, and twelfth floors, respectively. There will be a 50m lap pool, a children’s pool, a bubble dome gymnasium, a jungle-themed children’s playground, the Grand Burrows (multipurpose hall), the Secret Burrows (business centre), the Kaleidoscope Kitchen (celebrity kitchen), the Kaleidoscope Courtyard (barbecue area), the Water Lily courtyard, Hammock Grove, Chime Garden, and an outdoor fitness area on these trails.
“We designed these [trails and facilities] to look classy rather than cartoonish and ‘Disney-like.'” The challenge is to combine sophistication and fairy tale, so we must be careful not to go overboard, or the project will end up looking like a theme park if not carefully planned,” says Beh.
He continues, “The common areas are designed not only to entertain, but also to give people the illusion that they are entering a fairy tale setting where they can reminisce about their childhood.”
Furthermore, social distancing features will be implemented in public areas. “To purge potentially contaminated air, a supplemental fresh air system will introduce outdoor fresh air into common areas such as the lobbies, the Grand Burrows, the bubble dome gymnasium, and the Kaleidoscope Kitchen via the air conditioning ducting.” “This system can be activated during a pandemic or when the air conditioning is not turned on,” Beh explains.
When it comes to furniture, the developer must consider the need to allow for social distancing. The Secret Burrows, for example, will be designed as individual pavilions/workstations with rooms for group meetings, the gymnasium facilities will be placed 1m apart, and the fittings in the common areas will be arranged in small clusters to allow groups to be separated. There will also be sanitising stations and hand wash basins in those areas.
“In addition, we will replace the windows with louvres in common areas to promote cross-ventilation and have lockers for contactless delivery services to reduce cross-contamination and safer deliveries,” Beh adds.
Est8 has met the ventilation requirements in accordance with Eupe Corp’s efforts toward sustainability. The development is aiming for a GreenRE (Green Real Estate) Platinum rating.
Challenges and upcoming plans
Despite the current market conditions, Beh believes that reasonably priced properties in desirable locations will continue to attract buyers.
“We were told that Novum was launched at a bad time in 2016, but we still sold all the units and handed it over in June last year.” Meanwhile, Parc3, our second project in KL, has been 96% occupied since its inception in 2017. It has 793 serviced apartments ranging in size from 592 to 1,470 square feet, with prices starting at RM425,000. They are scheduled to be finished by the end of this year.”
He emphasises that a good property developer should have a thorough understanding of planning laws and construction requirements, as well as an understanding of how to maximise investment returns. When developers want to build a project, they must first find a suitable piece of land in a good location, then build a development that is reasonably priced, use good construction practises, and conduct extensive market research in the surrounding area to identify the right target audience.
Beh observes that every development must have an impact on buyers. “As we build something unique, we hope Est8 will provide added value to homebuyers by elevating their lives, mental and emotional states.”
“This pandemic highlighted an important aspect for property developers — anticipating residents’ needs [so they can find] sanctuary.” As such, Est8 functions as a self-contained serviced apartment in a mature neighbourhood,” Beh explains.
Moving forward, Eupe Corp’s Helix 2 in Petaling Jaya’s Jalan PJS 5/30 is set to open in the second half of next year. The serviced apartment project, with a GDV of RM227.8 million, will be built on a 2.85-acre leasehold parcel. It will primarily appeal to first-time homebuyers and young families.
Despite the unprecedented challenges posed by the pandemic for the majority of 2020, the group’s revenue increased 1.9% year on year to RM304 million in the fiscal year ended February 28, 2021. (FY2021). This was due to higher Parc3 progress billings as well as contributions from its affordable northern township products. The group’s pre-tax profit increased 16.3% year on year to RM82.8 million in FY2021, up from RM71.2 million in FY2020.
source from TheEdgeMarkets