This article first appeared in City & Country, The Edge Malaysia Weekly on November 13, 2023 - November 19, 2023

EH Property Management Sdn Bhd, the property arm of Eng Han Group, has started selling its latest condominium development called Tangen Residences in North Kiara, Kuala Lumpur. The low-density boutique project has a gross development value (GDV) of RM350 million.

Sitting on a 2.8-acre freehold parcel in Taman Sri Sinar, the 49-storey Tangen Residences offers 413 sky semi-detached and bungalow units with built-ups of 1,033 to 1,550 sq ft. The selling price starts from  RM659,000, or RM560 psf.

“Tangen Residences offers a unique sky semidee and bungalow concept. With just 10 units per floor, each unit comes with bright and well-ventilated bedrooms and two to three parking bays, depending on the unit’s size. We also offer an extensive selection of meticulously designed facilities,” EH Property director Pua Kai Han tells City & Country in an email interview.

He shares that the extensive and exclusive selection of facilities — and the team’s pride and joy — can be found on level 49. They include a sky cinema, sky garden, sky lounge, yoga and dance studio, reading nook and meditation deck.

Meanwhile, the facilities deck on level 7 features a 50m lap pool, children’s pool, children’s playground and fun zone, gymnasium, multipurpose hall and badminton court, sauna, aqua deck, pavilion and barbecue deck, Jacuzzi, jogging and cycling track, healing lawn and indoor games room.

On the ground level are the serenity garden, cascading stairs sitting area, co-working space, mailbox and parcel room, management office and a space for a convenience store.

“Apart from the facilities, what sets Tangen Residences apart is our commitment to sustainability. We have integrated eco-friendly elements into the project, including solar panels and an EV (electric vehicle) charging station to support green transport. We are diligently working towards achieving GreenRE Silver certification, underlining our dedication to environmental responsibility,” says Pua.

When asked about EH Property’s target market in the mature and highly competitive residential market in the vicinity, he says the project is designed for families and individuals who seek spacious and well-designed homes.

“Within the mature township surrounding Tangen Residences, [the development offers] a unique opportunity that is hard to come by. With a competitive selling price of RM560 psf and access to a thriving neighbourhood with all essential amenities, we aim to meet the demands of discerning buyers looking for the perfect blend of modern and harmonious living,” he adds.

In the mature and competitive Segambut market, Pua believes Tangen Residences sets itself apart through a combination of unique selling points and a strategic marketing approach.

“One key advantage is our prime location, nestled between highly sought-after areas like Mont’Kiara, Desa ParkCity and Sri Hartamas. This central position not only enhances demand but also provides residents with seamless access to major highways, including DUKE (Duta–Ulu Kelang Expressway) and the North-South Expressway, ensuring unparalleled convenience,” says Pua, adding that Tangen Residences is also conveniently located near hospitals and schools.

It is worth noting that land along the main road of Taman Sri Sinar is almost fully developed. “Our land stands as one of the last few freehold parcels in the area, adding to its desirability and the potential for long-term value appreciation,” he points out.

With the current market environment marked by escalating material prices and global economic uncertainties, EH Property implemented a proactive and adaptable approach to Tangen Residences’ planning and execution to ensure its quality. This included closely monitoring market dynamics, exploring cost-effective alternatives whenever feasible, and maintaining rigorous cost controls throughout the project’s lifecycle, says Pua.

“By consistently aligning our strategies with the evolving construction environment, we have successfully navigated these cost challenges, ensuring that Tangen Residences not only meets but exceeds the highest standards of excellence. This unwavering commitment to adaptability and excellence has been instrumental in [helping the developer overcome] the complexities posed by construction cost uncertainties and external economic factors,” he shares.

Tangen Residences, which was soft-launched in September, has seen a 30% booking rate. “Looking ahead, our sales expectations remain ambitious yet attainable. Our aim is to achieve a significant milestone of 70% in sales within the first year. Given the positive momentum we have generated during the opening month and the continued interest from potential buyers, we hold an optimistic outlook for Tangen Residences’ future success in the market,” he continues.

Pua is confident of achieving the sales target, partly owing to the recent announcement that Taman Sri Sinar will see a new MRT station located within walking distance of the site of Tangen Residences. “Improved connectivity and accessibility are expected to make Segambut more appealing to potential buyers and renters alike, as proximity to efficient public transport remains a significant draw for modern homeowners.”

When asked about the developer’s future launches, Pua says, “We are also proud to share that our upcoming launches, both in the west and east regions [of Malaysia], collectively represent a substantial GDV of approximately RM560 million.”

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