Radium Development launches R Suites Chancery Residences with RM521 mln GDV

26/01/2023 05:05 PM

KUALA LUMPUR, Jan 14 (Bernama) -- Radium Development Bhd has launched its latest project, R Suites Chancery Residences, in Ampang, Kuala Lumpur with a gross development value (GDV) of RM521 million.

In a statement today, it said the 51-storey building on approximately 0.88-hectare land consisted of 944 residential suites, commercial spaces and exclusive amenities as well as a hotel with 145 rooms managed by a well-known private hotel brand based in Kuala Lumpur.

The project is expected to be completed in the fourth quarter of 2027.

It said the project has been awarded the GreenRe Gold Certificate under the residential category by the Real Estate and Housing Developers Association Malaysia (Rehda) in line with Radium Development’s commitment to the environment and surrounding communities and the company’s efforts in ensuring sustainable construction through the implementation of practical environmental features.

Meanwhile, managing director Gary Gan Kah Siong said the real estate sector saw an improvement in terms of transactions and values in 2022 and the sector is now entering a recovery phase starting in 2023 and beyond.

He said investors are expected to diversify their investment portfolios to secure the future, therefore, R Suites Chancery Residences represented an ideal opportunity for investors who planned to strengthen or expand their property portfolio, in addition to providing long-term returns through rental income.




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