OCR’s The Pano tops-out | EdgeProp.my

OCR Group of Companies’ “The Pano” serviced residences are 86% sold to date and marked its

topping-out ceremony on 6th October 2021. Located along Jalan Ipoh, Kuala Lumpur, the

freehold residential project featuring only 363 units is spread across twin 26-storey blocks.

Slated for completion by 1Q22, the unit built-up sizes range between 609 sq. ft. and 1,831 sq. ft.

OCR’s The Pano tops-out | EdgeProp.my

Park Place by ParkCity Group over 86% sold | The Edge Markets

Park Place by ParkCity Group over 86% sold | The Edge Markets


KUALA LUMPUR (Sept 28): Park Place in Desa ParkCity township by ParkCity Group saw a take-up rate of over 86% during its priority sales event last weekend.

“We are glad that Park Place has received an overwhelming response from the market. We have continued to listen to our customers and loyalists to meet their needs and wants. With the current market and the value proposition of Park Place, the prices are really compelling,” says its CEO Datuk Joseph Lau in a press statement.

Sitting on a 4.55-acre freehold parcel, the RM770 million condominium development will have 537 units. The built-up is between 1,109 and 4,047 sq ft with two to four bedrooms.

Hearings on KL draft plan amendments to begin Oct 5 | The Star

Hearings on KL draft plan amendments to begin Oct 5 | The Star


THE third amendment to Kuala Lumpur City Plan (KLCP) 2020 will include the last proposed changes to the gazetted plan.

A spokesperson from Kuala Lumpur City Hall (DBKL) said public display for the third amendment of KLCP2020 had ended.

“Hearing sessions will start on Oct 5 in front of the public hearing committee appointed by the Kuala Lumpur mayor as stated in Section 7 of the Federal Territories (Planning) Act 1982, ” he said.

The third amendment, which proposed 33 changes to land use, plot ratio and population density had been opposed by many stakeholders, including residents and non-governmental organisations.



Compared to the third amendment, the first and second amendments only had three and six changes, respectively.

Stakeholders’ objections were mostly related to the amendments’ impact on traffic congestion and population density with the conversion of institutional land and green lungs for development projects.

To date, DBKL had received 2,243 submissions from the public for the third amendment of the KLCP2020 from July 27 to Aug 25 during public viewing of the document.

Urban planning pressure group Selamatkan Kuala Lumpur chairman Datuk M. Ali, who had been vocal about the proposed changes, said DBKL had confirmed receiving their objection and they would be called to attend the hearing next month.

“We stand by the fact that KLCP2020 is flawed. We hope that the government can do justice to residents in the Kuala Lumpur Structure Plan 2040, ” he said.

UOA Reit to buy office tower in KL for RM700 million

UOA Reit to buy office tower in KL for RM700 million:



UOA Real Estate Investment Trust (UOA REIT) is buying UOA Corporate Tower in Bangsar South, Kuala Lumpur from its parent, UOA Development Bhd for RM700 million cash.

UOA Corporate Tower is a 38-storey office building measuring 22,927 sq ft. It is being sold to UOA REIT at a 2.5 per cent or RM18 million discount, the developer said in a filing with Bursa Malaysia.

The building, which was completed in 2016 has a net book value of RM586 million as at the close of the financial year ended December 31, 2019 (FY19) and is being sold for a gain of RM114 million.

UOA Development said from the total RM700 million proceeds, RM646 million or 92.9 per cent will be utilised to fund the development of District K on Jalan Ipoh, Phase II of the UOA Business Park in 110 Shah Alam, Lot 2507 in Kerinchi, Kuala Lumpur and V50, Bangsar South.

YOU MAY ALSO LIKE
Amanah Raya REIT buys Vista Tower for RM455 million
MACC detains police officer for receiving RM700 bribe
Guocoland sells its tower for RM242.1 million to Tower REIT
Tower REIT to acquire a third office building
The total estimated outstanding cost of these properties is RM1.36 billion, it said.

The group said RM32.36 million would be used a

99 Residence’s launch - 300 Units Sold

OVER 300 units were sold and another 300 booked on the first day of 99 Residence’s launch.

JL99 Group chairman Datuk Seri Jeff Lee said he was confident the project would attract buyers despite the soft property market.

“I believe if the master plan, concept, design, location and pricing is good, the project will succeed.

“We have sacrificed 250,000sq ft of net saleable area to lower the density and build bigger common areas and facilities.
“The 55-storey high development will have nine car park floors.

“A ramp will be built for residents to have direct access to the seventh floor of the car park.

“A flyover will be built connecting Middle Ring Road 2 to the property for easy access.

“This is the first phase of our project which involves 1,421 units of affordable luxury homes, due to be completed by the end of 2023.

“The next two phases are residential apartment and mixed commercial developments, ” he said at the 99 Residence launch at JL99 Group head office in Jalan Ipoh, Kuala Lumpur.

Also present were Federal Territories Minister Khalid Abdul Samad and Batu MP P. Prabakaran.

Lee said those who purchased a unit in October would receive a lot of free gifts, including exemptions from legal fees and fittings for the home.

There are four types of layout – 900sq ft, 1,080sq ft, 1,220sq ft and 1,380sq ft. Each unit has three bedrooms and two bathrooms, with two to four parking bays.

The selling price is from RM498 per sq ft and maintenance fee, RM28sen per sq ft.

Source: https://www.thestar.com.my/metro/metro-news/2019/10/10/300-units-sold-on-first-day-of-high-rise-projects-launch

Hilton, PNB open first Conrad luxury brand in Malaysia

KUALA LUMPUR: Hilton, a leading global hospitality company, has signed a management agreement with Permodalan Nasional Bhd (PNB) to open the Conrad Kuala Lumpur here.

Slated for completion in 2021, the entry of the 544-room new-build hotel will mark the launch of Conrad Hotels & Resorts, Hilton’s global luxury brand, into the country. Conrad Kuala Lumpur will be part of Hilton Honors, the award-winning guest-loyalty program for Hilton's 17 distinct hotel brands.

"We are excited to continue expanding our footprint and portfolio of brands across the country by working with the right partners on the right opportunities.

"PNB is a highly regarded investment institution in Malaysia and we are truly honoured to be working alongside them to introduce our luxury Conrad brand to the burgeoning market,” said Hilton's senior vice president (development, Asia & Australasia) Guy Phillips, in a statement here today.

In Malaysia, Hilton currently operates 11 properties across three key brands -- Hilton Hotels & Resorts, DoubleTree by Hilton and Hilton Garden Inn.

Over the next three to five years, the company is targeting to open nine hotels, including five under the DoubleTree by Hilton brand, as well as the introduction of lifestyle brand, Canopy by Hilton. 

Source: https://www.thestar.com.my/business/business-news/2019/10/02/hilton-pnb-open-first-conrad-luxury-brand-in-malaysia

TADMAX RESOURCES TO ACQUIRE LAND FOR RM36.65 MILION

• Vendor: Syarikat Perumahan Pegawai Kerajaan Sdn Bhd
• Purchaser: Tadmax Coastal Sdn Bhd
• Location: Cheras-Kajang Expressway
• Land Area: 3.24 acres
• Tenure: Leasehold
• Category: Commercial
• Consideration: RM36.65 million
• Price PSF: RM260 psf
• DO Approval: Yes

KUALA LUMPUR: Tadmax Resources Bhd is buying 3.24 acres of land located near the Cheras-Kajang Expressway from Syarikat Perumahan Pegawai Kerajaan Sdn Bhd (SPPK) for RM36.65mil.

The leasehold land, Tadmax told Bursa Malaysia today, has been designated for commercial use with approval from Kuala Lumpur City Hall for the development of two blocks of serviced apartments.

The deal valued the land at RM200 per square foot. Tadmax said it won the bid to purchase the land via a closed tender exercise.

Tadmax said the proposed acquisition will give wholly subsidiary Tadmax Coastal Sdn Bhd a new landbank at a strategic location.

"This is in line with Tadmax's aim to further strengthen its foothold in the property development and construction activities and to generate long-term sustainable income," it said.

SPPK is a subsidiary of SP Setia Bhd.

Source: https://www.thestar.com.my/business/business-news/2019/10/01/tadmax-buys-324-acres-land-for-rm3665mil