There’s a big buzz happening around the Malaysian real estate community, as Hong Kong-based Lanson Place Hospitality Management Ltd revealed its latest property development to rise soon in Ceylon Hill in downtown Kuala Lumpur — the Lanson Place. Yes, in case you thought you’ve heard this name before, there’s another “Lanson Place” which is on the Embassy Row. Bukit Ceylon’s own Lanson Place is on Jalan Ceylon (naturally), and behind the venerable Tung Shin hospital; it is also among the clusters of residential properties, namely Angkasa Impian, City Gardens, Verticas Residensi and Regency Towers.
Ever since its launch, the developers are already targeting an 85% occupancy rate within a year. Many investors and residents can take advantage of The Lanson Place Bukit Ceylon’s introductory rates of an estimated RM470 to RM485 per night, which is valid until December 31, 2013. There would be 150 serviced apartments, and residents and investors may choose from a one, two, or a three bedroom unit.
Prices for a one-night stay are planned at an estimated RM970 to RM995. In addition, every serviced residence would come with a view of the city, as well as carefully-designed interiors, a work area, an iPod docking station, and wireless internet. There is also an outdoor barbecue area and a sky lounge on the serviced residences’ 48th floor. The sky lounge offers a panoramic view of the KL Tower and the Petronas Twin Towers.
In addition, there is also a reading room, a library, other entertainment amenities, as well as a private dining room, and a lounge.
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About The Developer
The Lanson Place Hospitality Management is a property developer based in Hong Kong and was established in 1995. The developer is a proud member of the Wing Tai Asia Group, a prominent property developer in Asia. Having said this, The Lanson Place Hospitality Management prides itself in developing serviced residences that focus on design and quality. In addition, many of its properties are located around Asian, mainly Singapore, China, and more recently, Malaysia. Most of these developments outside Hong Kong are serviced residences or serviced suites. The luxurious Lanson Place Hotel is located in Hong Kong.
The Lanson Place aims to develop top notch serviced apartments and suites with its “My Life, My Style” concept. This means that every residential suites are built with the residents in mind—starting from the personalisation of services down to the luxurious amenities and facilities everyone looks for in a luxury serviced residence. The property developers are well-known for its well-crafted and well-built serviced apartments and residences, with a strong emphasis for comfort, convenience, class, and luxury.
Lanson Place’s builders are keen on expanding its services and reaching out to a broader Asian market. The Lanson Place Hospitality and Management always goes through a careful and selective process when it comes to screening potential cities to develop their projects, and as of the moment, they are planning on developing projects in Ho Chi Minh, Jakarta, Bangkok, Phnom Penh, Guangzhou, and Chengdu. Furthermore, the Lanson Place is also eyeing Australia in the near future.
Our Two Cents
It’s always a great time for developers from abroad to develop sophisticated properties in Kuala Lumpur – prices are still relatively cheap with a growing demand with the expansion of the middle class. The Lanson Place Bukit Ceylon will be a great addition to the already prominent and luxurious serviced apartments and residences that line the KLCC skyline. With its great location that will attract expatriates and short-term business class travelers, the developer’s goal of having an 85% occupancy rate by the end of the year is highly feasible.
We would also expect the launch of Lanson Place would have a spillover effect to the otherwise jaded area around Bukit Ceylon. There could be opportunities for short lets at a price range which is 20-30% lower than Lanson Place amongst the condominiums at or near the Bukit Ceylon area. When you shop around for an apartment here, be sure to take this into consideration! For a more thorough treatment on the subject (and to help you valuate the fair market price of a property), use this guide below.