YNH Property Bhd is considering turning
the proposed Menara YNH in Jalan Sultan
Ismail into a mixed-use development
comprising a hotel, offices and retail
outlets. The Ipoh-based company is
currently working on securing anchor
tenants. Construction will start upon
confirmation of anchor tenants. Its gross
development value (GDV) is estimated at
over RM3 billion.
Ivory Properties Group Bhd’s subsidiary
Ivory Place Sdn Bhd has entered into
a conditional agreement with Plaza
Rakyat Sdn Bhd (PRSB) for the proposed
acquisition and rehabilitation of the
abandoned Plaza Rakyat project. The
leasehold project originally comprised a
79-storey office tower, a 21-storey hotel,
a 45-storey serviced apartment and a
7-storey shopping mall. Ivory Properties
plans to revive and develop an integrated
commercial, residential and transport
hub.
The construction of Menara Warisan
Merdeka in the city centre is expected
to kick off by end-2013. Owner and
developer Permodalan Nasional Bhd
expects to meet the criteria set by DBKL
in its development order for the project
to receive the green light. Issues such
as access roads and routes within the
development area are being ironed out.
UDA Holdings Bhd has called for fresh
bids from local and foreign companies
for the redevelopment of the 7.85ha
Bukit Bintang City Centre, which sits
on the site of the former Pudu Jail. The
redevelopment project is part of the
Economic Transformation Programme
under the New Economic Model. UDA
Holdings initially planned a mixed-use
development comprising seven blocks
of commercial and residential buildings,
a hotel, office towers and a shopping
complex.
Malaysian Resources Corp Bhd intends
to dispose of its Platinum Sentral in KLS.
The five low-rise blocks of office and
retail space are certified with the Green
Mark platinum award (provisional) from
Singapore’s Building and Construction
Authority and have a gross floor area of
980,000 sq ft and a net lettable office
space of 445,000 sq ft.
Felcra Bhd will launch a premium 1.8ha
mixed-use development in Jalan Semarak
in early 2014. The development has an
initial GDV of up to RM900 million and will
comprise a condominium, an office tower
and a business centre. It will be developed
in two phases.
The master developer of Putrajaya,
Putrajaya Holdings Sdn Bhd, has planned
more commercial developments to
revitalise the township. Its plans include
two million sq ft of office space —
excluding government office space — and
a total of 650,000 sq ft of shops and office
suites. The shops and office suites were
expected to be launched by end-2013.
HCK Capital Sdn Bhd is planning to sell
30 storeys of its 42-storey HCK Tower
in Empire City, which was purchased
en bloc in December 2012. HCK Tower
is part of an integrated development
comprising two hotels, a shopping mall,
residential and office units, and leisure
and entertainment amenities. The office
space, which has floor plates of 10,500
sq ft, is being sold at an average price of
RM760 psf or about RM8 million per floor.
HCK group plans to occupy the top six
floors.
Emkay Group is looking at setting up a
real estate investment trust in the near
future. To date, the group owns two
Grade A office towers — Wisma Mustapha
Kamal in Cyberjaya and Menara Mustapha
Kamal in Damansara Perdana.
Construction has started in Emkay’s latest
addition — Mercu Mustapha Kamal in
Neo Damansara, Damansara Perdana
— and it is expected to be completed by
November 2016. Mercu Mustapha Kamal
features two Grade A office towers with
a total net floor area of 468,267 sq ft, as
well as a banquet hall and retail units.
The building is Green Building Index Gold
pre-certified. The development will also
be MSC Malaysia Cybercentre-compliant
upon completion.
OPENING AND EXPANSION
Starting from Oct 1, 2013, the British
High Commission in Kuala Lumpur has
been operating from its premises on the
27th floor of Menara Binjai a Leadership
in Energy and Environmental Designcertified building in Jalan Binjai. The move
is part of a global strategy to modernise
and dispose of embassy and high
commission sites.
Pulsate, a member of Asia’s digital
research agency Pulse Group, is setting
up a state-of-the-