KUALA LUMPUR (June 1): KHK Group and Melbourne property developer Beulah are set to launch what it dubs “Australia’s most anticipated project”, STH BNK By Beulah in Kuala Lumpur, Malaysia on June 4 and 5.

In a joint statement on Wednesday (June 1), KHK and Beulah said the launch event for Australia’s tallest building is to be held at the Four Seasons Kuala Lumpur on June 4 to 5, from 2pm to 6pm. 

The pair noted that the event comes on the back of an unprecedented sales launch in Melbourne a few weeks ago, where more than RM1.2 billion in apartment sales were achieved in one day — which made it one of the strongest single-day apartment sales in Australia.

“The impressive results come as Melbourne’s property market continues to strengthen; vacancy rates, reaching less than 2%, are at an all-time low post-pandemic and median house prices continued to increase throughout the pandemic. 

“Further, the unemployment rate is at an all-time low since the beginning of the pandemic, and credit ratings are amongst the best in the world,” they added.

KHK and Beulah noted that there are generous stamp duty concessions available that buyers can take advantage of, which includes the city of Melbourne stamp duty savings on new homes.

“Eligible purchasers, including investors, may be eligible for a 50% stamp duty waiver under the scheme when purchasing a brand-new apartment at STH BNK By Beulah, but only if the property is purchased before June 30, 2022,” they said.

Beulah managing director Jiaheng Chan said the property developer is thrilled to have received support from KHK and Malayan Banking Bhd (Maybank) — who financed the project.

“Beulah is proud to be a partner with KHK and Maybank to bring this development to Malaysia,'' he said.

Meanwhile, KHK chairman Tan Sri Kong Hon Kong said he looks forward to offering an unprecedented opportunity that is set to push the boundaries of property development.

“We are thrilled to be able to offer Malaysians the exclusive opportunity to buy into Australia’s tallest tower,” he said.