KUALA LUMPUR: Property group AM-EL Group has launched a boutique luxury condominium located along Persiaran Raja Chulan, with a gross development value (GDV) of RM180 million- The St John Woods Residence condominium features 48 luxury homes housed in 33-storey towers that offers one unit per floor- Each unit will have three parking bays- The company is banking on its large unit design to attract buyers since surrounding condominiums that are available and undergoing construction offer smaller unit apartment or mix development projects- "Our strategy is to provide large luxury units that offer exclusivity and privacy- The lower density and limited number of units give the development its unique competitive edge," said project director Simon Low at the launch yesterday- "Not many developers are going into this market," he added- He projected about 70 per cent buyers will be coming from local customers- The homes range from 3,660 sq ft to 8,848 sq ft and are priced at about RM900 per sq ft or between RM3-3 million and RM4-4 million per unit-St John Woods Residence which sits on a 0-6 acre leasehold land is expected to be completed by June 2014- The group is confident of selling all its units when it holds a preview for the development this weekend- The total GDV for AM-EL Group's current projects is about RM400 million- It has two other ongoing residential projects in Penang and Taiping, Perak- Asked if the group would consider mergers and acquisitions or to float its shares in the local bourse to further expand, Simon said AM-EL Group would like remain a boutique developer- "We would like to keep the company niche and family based," he added-His sister Catherine Low is the property sales and marketing director- Established in 1982, the company was founded by their father, Michael K-C- Low- To date, AM-EL Group has developed and sold 10 residential and three commercial projects like the Dataran Merdeka, Dataran Pahlawan, Crystal Prestige and Merc Residence- ...

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