Future development initiatives in Kuala Lumpur will hinge on the results of a comprehensive Traffic Impact Assessment (TIA) currently in progress. The primary objective of this assessment is to address the growing issue of traffic congestion attributed to population growth in the city. Deputy Minister in the Prime Minister's Department (Legal and Institutional Reforms), Ramkarpal Singh, emphasized that...
The Kuala Lumpur Local Plan 2040 (KLLP 2040), which is poised to replace the Kuala Lumpur City Plan 2020 (KLCP 2020), is scheduled to be made available for public feedback in January 2024. City dwellers, as well as all interested parties, are invited to share their feedback and suggestions for enhancement to facilitate collaborative development planning for Kuala Lumpur. Datuk Azman Abidin, the political...
he Renaissance Kuala Lumpur Hotel & Convention Centre, located in the heart of the city center, has officially reopened its doors to the public after an extensive renovation period that began in June 2020. This reopening marks an exciting development, as the hotel will now be part of Marriott International's first dual-branded property under the Marriott Bonvoy travel program in Malaysia. The...
ECA International's recent cost of living analysis places Kuala Lumpur as the 35th most expensive city in Asia and 175th on a global scale for expatriates. Other Malaysian cities, including George Town, Kota Kinabalu, and Johor Bahru, saw a slight drop in their rankings, securing 189th, 195th, and 198th positions, respectively. Lee Quane, ECA International's Asia Regional Director, attributes the drop in...
Prime Minister Datuk Seri Anwar Ibrahim has called on the Kuala Lumpur City Hall (DBKL) to take immediate action in improving the Draft Kuala Lumpur Structure Plan 2040 (KLSP 2040) and to have the document gazetted before the end of this year. Anwar, who chaired a briefing on Monday (July 17) to examine the report of the engagement sessions on the amendment of the Draft KLSP 2040, expressed his...
Welcome to an immersive exploration of Majestic Residence, a beacon of extraordinary living and a lucrative investment opportunity nestled in the dynamic district of Jalan Sultan Ismail, Kuala Lumpur. This distinctive residential project combines an awe-inspiring design ethos, practical elegance, and a convenience-rich environment, making it the go-to destination for both luxury living and smart...
Bonia Corp Bhd’s wholly-owned subsidiary, Maha Asia Capital Sdn Bhd (MASB), has inked a Sale and Purchase Agreement (SPA) to acquire a piece of freehold land in Kuala Lumpur (KL) from Resaa Properties Sdn Bhd for RM35.51 million. The acquisition includes land measuring 1,403.71 sq m as well as a double-storey bungalow and guard house, it said in a filing with Bursa Malaysia. Bonia opined...
Pavilion Real Estate Investment Trust, which is still in the midst of discussion to buy Pavilion Bukit Jalil mall from Malton Bhd, posted a higher net property income (NPI) of RM90.22 million in the third quarter ended Sept 30, 2022 (3QFY22). This is 90% higher than the RM47.47 million NPI recorded in 3QFY21, thanks to increased revenue as well as lower property operating expenses. Earnings per...
The 486-acre former Royal Malaysian Air Force base in Sungai Besi, which is just a 15-minute drive to the Kuala Lumpur city centre, is being redeveloped into Bandar Malaysia under a public-private partnership model. However, the process of selecting a master developer has not been a smooth one. The development agreement with the initial master developer — a consortium comprising Iskandar...
8th and Stellar in Sri Petaling, Kuala Lumpur launched on Feb 23 and due to be completed in 2022, it has seen a take-up rate of 30% to date. “It has been quite a busy time for us,” says Chiau Haw Choon, group managing director of Chin Hin Group Bhd. “8th and Stellar is poised to become our signature project. Our headquarters and corporate offices will be located there. This will be an exciting...