The growing attractiveness of Kuala Lumpur City Centre (KLCC) continues to lure developers to the city to introduce their brand of tastefully designed projects. From less than 1,000 residential units in the KLCC enclave in the late 1990s, there are now more than 2,000. By 2010, there will be more than 7,000 residences completed. The total approved projects (including those under construction and completed) as of end of last year will see more than 6,000 new apartments added in the area in the next three years. KLCC is certainly in the spotlight these days with more than 30 property projects either completed or at various stages of construction. Several niche players continue to purchase land in the vicinity despite the current high land price of RM1,500 to RM2,000 per sq ft (psf). In 2000, land in the area was only going for RM200 to RM300 psf but by 2003, the price has doubled to between RM500 and RM600 psf.
(4-2-2008 The Star)
