PETALING JAYA: Pesat Bumi Sdn Bhd is planning another development at Pahang’s Genting Permai after successfully delivering its geo38 Residence in the same area in January 2019, six months ahead of schedule. The company is also the developer of 28 shopoffices at the mid-hill location in Genting Highlands called Genting Permai Avenue which was launched back in 2012. Genting Permai Avenue has been fully sold while geo38 Residence is 98% sold.
Coming up next, Pesat Bumi is partnering two individuals namely Dato Tan Su Cheng and Kenneth Teh to develop Geo Antharas on a 2.5-acre site owned by Pesat Bumi. The estimated gross development value (GDV) is RM380 million.
The serviced apartment project will be developed under a joint venture company called Antharas Hills Sdn Bhd where Tan and Teh are directors along with Pesat Bumi founder and managing director Leong Poh Hoong. Tan is also managing partner of interior design firm PDI Design & Associates.
Named after Antares, a bright and distinctly reddish star, Geo Antharas will be located directly opposite Highlands International Boarding School.
“From day one, we have aspired to develop homes promoting healthy and wellness living. And the location here is known for its cool and refreshing climate,” Teh told EdgeProp.my.
The freehold project will have three north-south facing towers (41 storeys, 30 storeys and 32 storeys) comprising 476 units of fully-furnished serviced apartments with built-ups ranging from 470 sq ft to around 1,000 sq ft. The project will also offer exclusive furnished units on selected floors to target foreign buyers.
“We are talking to an international hotel brand to operate tower C (32 storeys),” Tan disclosed. Prices start from RM750 psf for early birds. The project was soft launched in mid-December 2019, while target completion date is in September 2023. “Thus far we have completed the earth works and retaining walls. Piling works are now in progress,” Tan said.
Facilities at Geo Antharas include swimming pool, heated pool, badminton court, multipurpose hall, gym room, basketball half court, children’s play area, library, co-working space, video arcade room, mini theatres, VIP lounges and celebrity kitchens and retail stores.
“We foresee in the next five to 10 years, due to the rapid pace of development,
Genting Permai would become a nice sizeable ‘mid-hill city’ with comfortable weather,” Tan enthused.
As for daily conveniences, Genting Permai now has a variety of F&B outlets, cafes, convenience stores, car service shops, petrol station and other conveniences.
Tan elaborated that Genting Permai would be a perfect place to live for retirees as they can enjoy the outdoors as well as the cool and refreshing air. It would also be great for those who are not working nine-to-five, such as IT workers and business start-ups, due to its proximity to KL city and Resorts World Genting which has some of the best entertainment facilities and other facilities such as conference rooms. “High speed internet would also be available at Geo Antharas,” he added.
“The number of people staying in Genting Permai, both long term and short term is increasing,” he noted. He also believes that demand is high in view of the entertainment and commercial components nearby, as well as the Genting Integrated Tourism Plan (GITP) master plan that might act as a future catalyst.
Developing mainly in Genting Permai, Pesat Bumi still has over 14 acres of undeveloped land in the area.