Razak City Residence still selling like hot cakes

PETALING JAYA: Located opposite Bandar Malaysia, the Razak City Residence (RC Residence) is still selling like hot cakes, despite the nearby project, which was used in promotional activities, showing no signs of life.
Speaking to SunBiz recently, the project's sales manager, Kenny Lim said that thus far close to 2,700 of the 3,000 unit residential development by the Akisama Group, located opposite the Bandar Malaysia site, have been sold.
As far as the project's progress is concerned, he said foundation works for phase one, two and three has been completed.
"Surprisingly, the sales are very good. Every month we have been selling about over 200 units. Last week we sold about 75 units because of the location and the price," he said.
Bandar Malaysia is such a good piece of land ... I think it (the development) will be on and there is a MRT project over there for which work is still progressing," he added.
Lim, who appears to be unperturbed by the review of Bandar Malaysia and the Kuala Lumpur-Singapore High Speed Rail, said buyers for the project gravitate more towards the Light Rail Transit and Mass Rapid Transit (MRT) projects, and the strategic location.
The closest MRT station to the project will be the Bandar Malaysia station which is currently being constructed.
He said the developer was initially concern of sales hitting a hitch following the 14th General Elections but that has not been the case.
Lim is however confident that Bandar Malaysia will see the light of the day, positive that it would be a revenue churner.
The high rise residential project was said to have 48 stories and comprises of the 800 sq ft Type A unit and the three bedroom, three bathroom unit measuring 1,045 sq ft. Once completed in 2022, the project is set to boast 5,748 units. The retail price for the units starts from RM358,800.
The project was one that heavily used the Bandar Malaysia development for its promotions.
At this juncture, the future of Bandar Malaysia (which was to stand on the military airport site in Sungai Besi), is unknown. A call for tenders by the government under the previous administration had attracted zero interest, according to Ministry of Finance special officer Tony Pua.
A new tender for a master developer for Bandar Malaysia was called in June 2017 after TRX City Sdn Bhd announced in May 2017, that the consortium set up by Iskandar Waterfront Holdings Sdn Bhd and China Railway Engineering Corporation (M) Sdn Bhd was no longer the master developer of the estimated RM200 billion Bandar Malaysia project due to its failure to meet payment obligations.