KUALA LUMPUR: GSH Corp Ltd, a property developer listed on the Singapore Exchange, yesterday launched its first residential project in Malaysia, comprising a 632-unit luxury condominium worth RM1.1 billion.

Its chief executive officer Gilbert Ee said 150 units out of 200 released during VIP previews and private viewing sessions had been booked.

The 52-storey Eaton Residence, located on a 1.42-acre leasehold land in Jalan Kia Peng, is being developed by its wholly-owned subsidiary City View Ventures Sdn Bhd, he told reporters at the launch.

Sizes of the serviced apartments range from 635 sq ft to 2,874 sq ft, while the penthouses range from 2,271 sq ft to 2,982 sq ft. These units are priced from RM1.14 million to RM4.19 million. The expected completion date for this project is in December 2020.

Featuring the first, longest and highest cantilevered sky pool in Kuala Lumpur, Ee said Eaton Residence’s location is another attractiveness in terms of connectivity.

Noting that the Malaysian property market, particularly the high-end segment, is slowing down, he said Eaton Residence is aimed at offering more value to buyers.

“We are also embedding some new ideas, such as the full-glass facade. This is a feature that is usually only available for commercial buildings because it is more expensive, but we are offering this for a residential building. If you look at our prices, we are still very similar to those within the vicinity of Eaton,” he added.

But with higher value comes higher cost. Ee declined to share the exact development cost, saying only that the figure easily surpasses 70% of the project’s gross development value.

“This being our first residential development in the Malaysian capital, we have spared no effort in maximising the scenic views,” he said.

“Moving ahead, we will be launching two ocean-fronting residential projects in the Sisters Harbour precinct in Kota Kinabalu,” he added.