The Lexis Suites @ Penang, developed by Kuala Lumpur Metro Group that specialises in high-end resort homes with a remarkable track record, is strategically located in the southern part of Penang island or just 4km from Penang International Airport.
According to the press release, it is managed by a reputable hotel operator The Lexis Hotel Group (http://www.lexis.my/).
The project, a freehold property consisting of only studio units and financed by UOB Bank, is scheduled for completion by October 2014.
The units with sizes ranging from 875 sq ft to 968 sq ft are priced from RM770,000 to RM945,000, inclusive of all furniture, fittings and renovation.
Designed by international renowned architect from London, Broadway Malyan, (http://www.broadwaymalyan.com/), the property has so far received fantastic response with approximately 70 per cent of the units sold within one-and-half month from its launch in May.
The successful launch and fast selling of the units are attributed to the following factors.
The product comes with attractive rental return at seven per cent per annum, which is generally sufficiently to meet the monthly loan repayment.
Low entry costs with only 10 per cent needed to purchase the unit as the bank provides 80 per cent margin of financing while the developer allows the balance of 10 per cent payment under ‘the vendor finance scheme’.
During the construction period, the developer helps the buyers pay all the interest instalments due to the bank for the loan granted.
The developer has a good reputation of paying off the buyer rental income promptly and adequately with a proven track record in their completed projects, Lexis and Grand Lexis (http://www.lexispd.com/ and http://www.grandlexispd.com/) since 2006.
Located on an exquisite beachfront and supported by full facilities & services, Lexis Suites @ Penang is very much sought after on the island.
This will help greatly in securing hotel business and thereby generating more profits, part of which will be remitted to the owners under the lease back scheme or rental guarantee scheme.
The experience from the developer’s current resorts, Lexis and Grand Lexis, has proven the significance of resort facilities in relation to the generation of hotel revenue.
After a successful roadshow last year in East Malaysia and again in 2012 over two weekends in Kuching and Kota Kinabalu and having gained strong investors’ confidence, Developer KL Metropolitan (http://www.klmetropolitan.com/) together with its marketer Borneo Real Estate invite investors and home buyers to visit the property show at the RH Hotel Sibu this weekend starting on Friday, July 6, from 10am to 7pm, emphasising it is an investment opportunity not to be missed. – The Borneo Post Online