KUALA LUMPUR, MALAYSIA - Psst... have you heard? There are a few RM15 million (S$6.5 million) apartments for sale.

Why the secrecy? Believe it or not, the developers don't want the super rich to know.

So exclusive are these condominium units that purchase comes through private and personal invitations given to a select few.

In the case of the Four Seasons Residence, the development is oversold, a source revealed.

What is even more astounding is that nearly 90 per cent of those who put their names down for the units are locals who are among the who's who of Malaysia.
Another source said that GuocoLand (Malaysia) Bhd's planned 42-unit condo project in the Kia Peng area would be first offered to "family and friends" of the developer, given the limited number of units.

This means that one would have to be in an inner circle, or hope that the developer has less than 40 friends to recommend it to when plans for the development are ready early next year.

Another much-awaited condo development is The Binjai by KLCC Holdings, which is expected to be ready sometime next year.

The extended completion date is to facilitate design upgrades.

Marketing efforts are expected to commence soon but price details are still not available.

This is despite the fact that the developer had circulated information packs to certain high net-worth individuals as far back as 2002.

A media preview for the project was held in August 2004.

Binjai is touted as having the best uninterrupted view of the Twin Towers and the luxury of having the KLCC Park at its doorstep, as such one can expect the pricing to reflect this exclusivity.

In the case of Guocoland's condo project, the source said that the developer could be looking at tagging the units just above the RM3,000 psf rate when it is launched early next year.

As for the Four Seasons Residence, which is part of an integrated hotel and service apartment development in Jalan Ampang, a source said the units were "overbooked".