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> QUILL RESIDENCES, JALAN SULTAN ISMAIL, At the heartbeat of Jalan Sultan Ismail

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yatimou
post Jan 11 2013, 06:18 PM

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Fast & Furious after this forum started talking about it??! Any more info for this project SiFu

This post has been edited by yatimou: Jan 11 2013, 06:19 PM
NoEntrY
post Jan 12 2013, 12:27 AM

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Does anyone have more info regarding this project? icon_question.gif

TSaccetera
post May 25 2013, 05:33 PM

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New hoarding. New rendering. Get ready for official launch.


Quill Residences

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Quill City Mall http://www.quillcitymall.com.my

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ahrapture
post May 28 2013, 12:41 AM

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RM1300psf up shud b a better buy than meridian 101.
kimmiz
post Jun 7 2013, 11:55 PM

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Anyone who has info on the service apartments, please pm me.

Thanks!
jax_ong
post Jun 12 2013, 12:15 PM

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PM me too... thanks...
TSaccetera
post Jul 1 2013, 11:03 PM

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This project's mall got EPF backing.



A Quill rises from Vision City
By JOHN LOH | The StarBiz | Updated: Monday July 1, 2013 MYT 12:44:20 PM
http://www.thestar.com.my/Business/Busines...or-RM12bil.aspx

PETALING JAYA: Vision City, one of Kuala Lumpur’s most prominent failed landmarks, is abandoned no more.

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Widely-panned as an eyesore on the level of Plaza Rakyat, Vision City is being revived as the RM2.5bil Quill City, a 7-acre mixed development on Jalan Sultan Ismail.

Anchoring the development is the 6-storey Quill City Mall, whose highly visible, half-built shell had lay disused for the better part of a decade. Quill City will also feature a residential and an office tower.

Although slated to open in time for Hari Raya next year, the mall has already pre-leased more than 50% of its space, Quill group executive director Datuk Michael Ong told StarBiz.

“People still think the place is abandoned, but it’s all happening inside. We’ve been banging away for the past six months,” he said in an interview.

The privately-held Quill has a lot riding on this project, not least because it has agreed to sell the mall in its entirety to the Employees Provident Fund (EPF) for up to RM1.2bil, or RM1,561 per sq ft.

This is believed to be EPF’s first purchase of a retail mall in Malaysia. The pension fund had accepted the offer to buy the mall in December 2011, followed by the signing of the sale and purchase agreement in March this year.

The sale is subject to certain “performance targets” such as physical completion within three years and a minimum occupancy of 70% within 12 months of commercial operations, according to a RAM Ratings report in March.

EPF and Quill Retail Malls Sdn Bhd, the unit set up by Quill to undertake the development of Quill City Mall, will also enter into a type of sale and leaseback arrangement that would allow Quill to manage the mall under EPF’s ownership.

The plan entails Quill leasing the mall for three terms of three years each at incremental annual lease yields.

Quill Retail Malls had earlier this year gotten Danajamin Nasional Bhd, DBS Bank Ltd and United Overseas Bank (Malaysia) Bhd to co-guarantee a RM700mil bond issuance for project financing.

RAM Ratings said in a ratings announcement last October that the repayment of the debt would mainly be derived from the sale proceeds of the mall to EPF.

Quill City Mall marks the first large-scale retail venture for Quill, which made its name building custom offices for multinationals and selling luxury marques including Rolls-Royce and BMW.

As the focal point for Quill City, the mall will take up the bulk of the project at 60%, or 4 acres.

Quill City Mall has an approved gross floor area of 1.35 million sq ft and net lettable area of 770,000 sq ft. It has so far secured three anchor tenants comprising a department store, cineplex and supermarket.

Ong said the department store was set to be the mall’s biggest tenant, occupying four levels and 230,000 sq ft.


Whilst this could not be confirmed, it is believed that Quill had beat out the likes of Eastern & Oriental Bhd and Singapore’s UOL Group Ltd in the bid for Vision City in 2007.

Quill paid RM430mil for the remaining unsold and partially completed properties from a unit of the then Rashid Hussein Bhd (RHB).

RHB had sold a parcel of land for a fourth office tower, a half-built retail centre with four levels of basement parking and a partially completed apartment block with or retail podium with four levels of basement parking. The project came with a pre-approved development order from City Hall.

In 1995, RHB Daewoo acquired 11.5 acres of land for Vision City. It managed to sell three office towers at the site before the company ran into financial difficulties during the Asian financial crisis.

Despite its tumultuous past, the new owners are unfazed.

Quill City Mall, which would boast the longest street frontage for a retail centre in the country at 300m and a link bridge to the Medan Tuanku monorail station, has received “strong enquiries” from potential retailers, Ong said.

Previous studies showed that some 300 retailers were not represented in the immediate area.

Its leasing managers aimed to benchmark rentals to 1Utama, Mid Valley and Sunway Pyramid, according to Ong.

Quill has opened lease applications to prospective tenants for retail lots ranging from 800 to 1,000 sq ft, although it has received enquiries for larger sizes, he added.

The mall, targeting the mass market, has a ready catchment of 5,000 people from the existing 30-storey offices connected to it that were built and sold by RHB Daewoo.

Quill plans to launch the residential component sometime next year and a 40-level office tower later.

Quill Residences, at 36-storeys, comprises 552 units starting at 660 sq ft and RM1,300 per sq ft, giving the smallest units a price tag of close to RM1mil.

This post has been edited by accetera: Jul 1 2013, 11:04 PM
jinyee80
post Jul 1 2013, 11:20 PM

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This project gonna give platinum victory's FACE a tough time. Heard FACE not fully launched all its units yet.
sishouse2
post Jul 2 2013, 12:26 AM

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PM me pls!!!capitaland malls...1000% wont go wrong
513730
post Jul 3 2013, 07:46 PM

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hi i got 1 unit lock in very early bird since last year , and the net selling price only 720k , 654 sq , which means only 1100 per sq. compare with going to launch for 858k for 660 sq which means 1300 per sq . im willing to transfer out if got good price , interested buyer can offer me , as i believe when the quill city mall residence official launch and it will mention 80 / 90% already sold out .
ahrapture
post Jul 3 2013, 08:16 PM

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QUOTE(513730 @ Jul 3 2013, 07:46 PM)
hi i got 1 unit lock in very early bird since last year , and the net selling price only 720k , 654 sq , which means only 1100 per sq.  compare with  going to launch for 858k for 660 sq which means 1300 per sq .  im willing to transfer out if got good price , interested buyer can offer me , as i believe  when the quill city mall residence official launch  and it will mention 80 / 90% already sold out .
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Hi bro, how did u manage to secure a unit so early yea? Any lobang?
TSaccetera
post Aug 10 2013, 12:26 AM

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first posted by W3raq from vision city thread skyscrapercity malaysia

http://www.quillcitymall.com.my/quill

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JamesPond
post Aug 10 2013, 12:31 AM

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Nothing special. Kl got too much mall
TSaccetera
post Aug 10 2013, 12:32 AM

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QUOTE(JamesPond @ Aug 10 2013, 12:31 AM)
Nothing special. Kl got too much mall
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my list got 91 more coming.... (klang valley - upcoming, proposed and future ones)
JamesPond
post Aug 10 2013, 12:36 AM

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It might be another pertama complex
TSaccetera
post Aug 10 2013, 12:38 AM

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QUOTE(JamesPond @ Aug 10 2013, 12:36 AM)
It might be another pertama complex
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No lah Quill is not so bad. Got EPF backing. They are talking to alot of foreign brands.
JamesPond
post Aug 10 2013, 12:46 AM

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Cap square used to talk big but end up become a Jakel store. We need nation to be a high income society before we can afford to buy luxury brand at mall. If we still under waged and so many luxury mall just cater for tourist?
TSaccetera
post Aug 10 2013, 12:48 AM

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QUOTE(JamesPond @ Aug 10 2013, 12:46 AM)
Cap square used to talk big but end up become a Jakel store. We need nation to be a high income society before we can afford to buy luxury brand at mall. If we still under waged and so many luxury mall just cater for tourist?
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Yes is true... we are still suffering from "middle income trap".

I think for the mall, F&B can do very well. Also, alot of questions are asked why EPF in search for high yields, invest in this mall. Ermm....
AnnaMarcus
post Aug 15 2013, 01:27 PM

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What do u guys think about the retail shop?
JamesPond
post Aug 15 2013, 02:02 PM

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Are you sure?

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