“The market is sluggish as a result of the ongoing global economic uncertainty. Consumers are cautious in buying new properties,” he said in an email interview.
Beh said they saw good opportunities to present a compelling product to a less cluttered market, as well as a discerning market of buyers who were interested in strong products and good investment opportunities.
“We always believe in our products’ strength and their ability to attract buyers,” he said.
Novum, which means “new innovation” in Latin, seeks to redefine Bangsar South, one of the city’s prestige precincts with a bold, innovative architecture and lifestyle offering.
Each unit, with built-up areas ranging between 641sq ft and 1,441sq ft, is averagely priced at RM900 per sq ft (psf).
The project is a stone’s throw from Mid Valley Megamall and The Gardens, and adjacent to the Federal Highway and LRT station.
Beh said Novum’s unique design – interlocking shapes and wave forms that create “clusters of villages” high in the sky – would complement the nearby TM tower, one of KL’s more recognisable landmarks.
“Having developments in Kuala Lumpur and Sungai Petani provide us with a diversified source of income to hedge against the volatility of the markets.
“In Sungai Petani, we have a good mix of products – high-end luxury houses and mass housing – which spread our risk in times of bearish markets,” he said.
Since the group started operations in 1986, it has built more than 20,000 homes in Sungai Petani and Seberang Prai.
Its 18-storey Sky Residences in Sungai Petani was the country’s first LEED-certified (Leadership in Energy and Environmental Design) building in the country,
LEED is the green building rating system in the United States that is widely used in different parts of the world.
In 2014, Eupe was awarded the title of Malaysia’s top developer.
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