The final residental block, Ixora Residence, in the mature 216-acre Bandar Sri Permaisuri in Kuala Lumpur was launched last month. Ixora Residence is part of the RM450 million Ari Permaisuri, which includes Residensi Wilayah, affordable housing project Residensi Akasia, and condominium project Rumbia Residence @ Ari Permaisuri. The names Akasia, Rumbia and Ixora form the word “Ari”.
Located on 8.05 acres of leasehold land, Ari Permaisuri is a joint venture development between Kuala Lumpur City Hall (DBKL) and Dwitasik Sdn Bhd. EH Property Sdn Bhd is the project manager.
Dwitasik executive director Datuk Wan Mohamed Yaacob Wan Salaidin says Bandar Sri Permaisuri was initially planned as a public golf course in the 1990s. The plan was subsequently changed so that the area could be developed into a mixed development to provide more housing.
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The local property market is expected to be soft this year and likely to see a further delay in recovery to 2022, according to Rahim & Co in its Property Market Review 2020/2021.
While there is optimism that the turning point will be in the latter part of 2021 with the vaccine about to be mobilised, a further delay in recovery to 2022 would not be a surprise with the recent resurgence of Covid-19 cases and reimplementation of lockdowns, it said.
“We expect the residential market to remain focused on the affordable segment as overhang is still a concern. Secondary sales are expected to dominate the market with price consolidation, and the Home Ownership Campaign 2021 will give the market a boost,” said research director Sulaiman Saheh during a virtual press conference on Jan 26.