Property ID: 897290

Price: 897290 741000.00 MYR

Key Features

Residential Property

Malaysia - Selangor -

New Home

Full Description

An opportunity to acquire a property on a superb luxury iconic development set on the Sepang Gold Coast.  Known as the third palm of the world, the first palm outside of Dubai, this is a turnkey investment managed by Swiss Bel Hotels, one of the worlds premier hotel companies and is set within close proximity to the Sepang F1 motor racing circuit, 40 minutes from the Kuala Lumpur International Airport and 75 minutes from Kuala Lumpur city centre.

The villas are of an attractive design, in keeping with the setting and with an excellent blend of modern engineering and local materials.  Set along the shore is an array of shops and restaurants in addition to a theme park.  The centre of the palm is a club house with gym, business centre, swimming pool, coffee terrace and spa.

Within the 15 year leaseback scheme, the investor receives a fully furnished unit, with a rental guarantee of 7% for the first seven years followed by an ongoing split of the room income.  There are no maintenance fees or refurbishment costs and the owners have the option of 14 nights personal use per annum.  These units are sold leasehold with a 99 year lease.  Owners can be reassured that their property is being managed by the premier hotel operator Swiss Bel Hotels with an excellent network of hotels and resorts in the surrounding area.

Mortgages are available on this project  with up to a 20 year term, there is also the possibility of end financing.  There is also zero local capital gains tax.

This is an eco sea project and this stunning area is home to a great variety of birds, plants and animals.  These projects have been designed with an empathy for the local area and culture.

The Sepang Gold Coast stretches for 22km and the area has excellent potential.  The local population shows high GDP.  There is a high volume of international traffic through Kuala Lumpur Airport with figures estimated to reach 25 million within 3 years.  In addition there is a low cost terminal planned within two years that anticipates 1 million passengers. The Formula One track is planning to hold three major international motor racing events per annum.  The Sepang coastal area is to be linked up to Putrajaya, Cyberjaya and Kuala Lumpur City, becoming part of the area known as Kuala Lumpur Two.  This location is the focus of economic development over the next ten years.

This project will be developed and managed by a a joint venture company formed by Perodalan Negeri Selangor Berhad (PNSB) and Sepang Bay Sdn Bhd.  PNSB is the state of Selangor's investment arm and has extensive experience in successful joint ventures with proven private sector partners.