An artist's impression of Gallery@U-Thant
KUALA LUMPUR: Nam Fatt Corp Bhd has sold over 80% of the condominium units of the recently launched Gallery@U-Thant.
In a statement, it said Gallery@U-Thant, which is located in the upscale embassy residential area, was the company's maiden foray into the super high-end residential market.
Gallery is a niche 50-unit development with a gross development value of over RM200mil. Most of the units were sold within 90 days of the sales launch, largely through private invitation in collaboration with Colliers International Property Consultants, it said.
“We have been very pleasantly surprised by the tremendous market confidence in the Nam Fatt name by locals as well as expatriates. For a development in the price range of Gallery, these numbers are unheard of,” said property division general manager Erric Tan.
“We are especially appreciative of Trans Penang Inn Sdn Bhd, our strategic land owner partner, and our consultants, including Colliers International for their assistance and effort in developing new marketing, branding and public relations strategies,” he said.
Tan said the buyers were a mix of local elite and professional expatriates.
“These are not the typical buyers we marketed to in the past. This change will undoubtedly have a significant impact on our future marketing, branding and positioning endeavours,” he said.
By The Star
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