While many launches and projects in the Kuala Lumpur have been pushed back in the anticipation of the imminent slowdown of the Malaysia property market, LGT Green (or also known as Hijauan LGT) seems to be spurring ahead without much qualm. With a gross development value (GDV) of approximately RM1.5 billion, LGT Green is no skinny boy on the block a la Steve Rogers before he got injected the Captain America serum. 😉
The LGT Green is set on 4.5 acres of freehold land on Jalan Belfield in Kampung Attap (where?), and is a joint venture between F3 Capital and Genting (through LGT Sdn Bhd). No prizes for guessing what LGT stands for…
F3 Capital seems to be doing the heavy lifting when it comes to the marketing aspects of the property while Genting itself handles project management. Win-win for all… although given Genting’s branding prowess in its bread and butter resorts and cruises it does seem a little out of place. F3’s experience in Malaysia property is not too shabby either – its handsome portfolio includes Dua Menjalara, Selayang 18 and the spanking new (at the time of writing) Urban360 in Gombak East.
A Mix of SoLos, Offices & Serviced Residences
LGT Green features a three towering blocks of offices, SOLOs and serviced residence. Tower A is 33 storey high housing Grade A office units with aspirations for GBI Gold certification. Both Towers B and C, on one hand, will be GBI certified featuring 43 and 46 storeys respectively. Tower B will be offering small office/liveable offices or S0Los (yeah, I know) while Tower C will boasts of modern and stylish service residences.
All in all, LGT Green will have a total built-up area of 2.7 million sq.ft. showcasing unit sizes from 700 sq.ft. to 1,500 sq.ft. In terms of supply, there will be 331 service residences and 175 SoLos while the stratified offices will be offered to private buyers.
Potential Price Tags
LGT Green units are projected to potentially fetch a price tag starting from RM1,300 to RM1,500 psf. The price range may be too steep at first glance (beating even the likes of median KLCC properties), but the developers are confident that the project can sustain the premium asking prices.
The jury is still out on that question, but there are a couple of factors which seem to favour LGT:-
- Branded developers; you can be sure that Genting won’t want to mess with their brand equity by screwing up this project 😉
- Integrated developments typically command a premium over regular projects (see Bangsar South)
- Dearth of city launches mean that supply can be short in certain hot spots although the positioning (“Kenny Hills of Belfield“) is kinda dubious… ;p
For now, the developer seems to be banking on the strong buzz and high anticipation about the LGT Green. We’ll see if the buzz cascades upwards and translate to long queues during its launch. 🙂
A New Benchmark for Green Developments…?
Alright, admittedly I haven’t been to Jalan Belfield, but according to this property agent friend of mine there’s “quiet ambiance and vast expanse of greenery” (his words). At the heart of LGT Green’s design is green living aspiring to match Jalan Belfield’s lush greenery.
Aiming to preserve the area’s natural surroundings, the development will incorporate ample green aspects. Apparently the developer even went the extra mile hiring renowned eco-green architects to craft the up and coming high rise. The developers’ efforts will basically zero in on one goal – to set a new benchmark in Kuala Lumpur when it comes to green developments (perhaps beating even the best of Ken Holdings’ projects such as Ken Rimba?).
Close Proximity to the City – We Like This
Strategically located Jalan Belfield, LGT Green practically sits mere minutes away from the heart of Kuala Lumpur and about only ten minutes from the city (provided that it’s Chinese New Year or Hari Raya… hint hint). With that kind of proximity, it’s safe to presume that the development is right next to a multitude of amenities. With the city centre’s abundant establishments, residents at LGT Green need not worry about meeting needs whether shopping, dining, recreation, leisure or entertainment.
While the hustle and bustle is never far, LGT Green was able to preserve exclusivity with its location. City conveniences are within the tenant’s grasp but the busyness of the setting cannot interrupt your quiet and peaceful life at LGT Green. With full of green elements in and around the project, you can still wake up to refreshing air and soothing bird chirping while enjoying the city setting. +1 for LGT Green in this respect.
Our Final Thoughts… For Now
Looking at LGT Green’s master plan, it’s clear that the developers have meticulously planned the project to set a new milestone in property development. It does look very well planned, and as the casual PropertyReviews.my reader would know, we tend to be a little more bullish about integrated developments (and we see this as a trend going forward for Klang Valley projects). The fact that it has got a brand name developer is the icing on the cake.
LGT Green is slated for completion in 2018 with planned price tags from RM1,300 to Rm1,500 psf – it is decidedly upmarket. Though the pricing weren’t finalized yet, the cost may serve as a drawback for some investors given its steepness. But then again, like any discerning buyer, you may need to look at the area’s real potential first before deciding. You may also want to check the property’s fair market value which you can accomplish using our free mini-guide guide which you can download below.