Beulah executive director, Adelene Teh, managing director Jiaheng Chan, KHK Group chairman Tan Sri Kong Hon Kong and KHK Land executive director Jo Jo Kong at the official launch of STH BNK By Beulah.on April 6. - File pic
PETALING JAYA: The public will be able to own a part of Australia’s tallest tower – the STH BNK by Beulah.
The Melbourne property developer Beulah, along with investment partner Tan Sri Kong via his investment vehicle KHK Group, will be launching the STH BNK by Beulah in Malaysia in Kuala Lumpur from June 4-5.
In a joint statement, Beulah and KHK said the Malaysian roadshow would be conductied following a record-breaking launch in Melbourne a few weeks ago that saw RM1.2bil in apartment sales in a day, including a RM105mil of sub-penthouse.
“The impressive results come as Melbourne’s property market continues to strengthen,” the statement said.
It added that vacancy rates in Melbourne have reached less than 2% – an all-time low post-pandemic.
Meanwhile, median house prices continued to increase throughout the pandemic, according to the statement.
“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,” it added.
Purchasers may be eligible for a 50% stamp duty waiver under the City of Melbourne stamp duty savings on new homes scheme, but only if the property is purchased before the end of this month.
“Beulah is proud to partner with KHK and Malayan Banking Bhd
(Maybank) to bring this development to Malaysia,” said Beulah managing director Jiaheng Chan.
Financed by Maybank, it is the third of Beulah’s projects to receive such funding, according to the statement.
Meanwhile, Kong, who is also chairman of KHK, said: “We are thrilled to be able to offer Malaysians the exclusive opportunity to buy into Australia’s tallest tower.”
The two twisting towers of STH BNK by Beulah is said to have four different offerings ranging from one-bedroom apartments to five-bedroom sky homes with prices starting from RM1.7mil.
