Abbey Woods focuses on KLCC

VETERAN property marketing guru and developer, Datuk Wong Choon Kee, who recently left Sunway City Bhd after more than seven years helming the company, is still raring to shape the property landscape of Kuala Lumpur and other major cities around the world. “Property is my life – I live and breathe property,” enthused Wong during a recent interview with StarBiz. A strong believer of real estate in the KL City Centre (KLCC) area, Wong's outfit, Abbey Woods Sdn Bhd is teaming up with a few strong financial partners to develop high-end residential and commercial projects in the well sought after address. Datuk Wong Choon Kee“We believe that any property built in the KLCC area will be marketable and tradable. Properties built here have to be high-end branded products with quality finishes and iconic designed facade.” he said. Read more

(The Star 24-3-2008)

More to be done to improve infrastructure

THE success of the Kuala Lumpur City Centre (KLCC) enclave has raised the profile of Kuala Lumpur on the world map, but much still needs to be done for it to reach the status of other world-class cities such as New York, London and Singapore. The plus features of the KLCC include the integrated nature of the development comprising the Kuala Lumpur Convention Centre, three shopping complexes (Suria KLCC, Pavilion KL and Avenue K), a number of five-star hotels, as well as food and beverage outlets. According to Henry Butcher Marketing Sdn Bhd chief operating officer Tang Chee Meng, world-class cities have a wide range of social amenities and facilities such as shopping, healthcare, public recreational parks, places of worship and schools. Read more

(The Star 18-2-2008)

More Than 6,000 New Apartments In the Next Three Years

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)

KLCC Magnet For Local and Foreign Investors

The Kuala Lumpur City Centre (KLCC) enclave is emerging as an international real estate destination with growing local and foreign interest to develop and invest in residential and commercial properties. The Petronas Twin Towers and the surrounding 50-acre central park have been “magnets” in attracting real estate investors and developers. Interest in the KLCC area started in early 2000 after the Kuala Lumpur City Hall (DBKL) set out to make Kuala Lumpur a world-class city and to promote inner city living in line with the KL Structure Plan 2020. Medium-density high quality residential developments were designated in areas around the KLCC, Jalan Yap Kwan Seng, Bukit Ceylon, Jalan Inai/Imbi and Jalan Stonor/Conlay. The early launches in the KLCC area included the Stonor Park, Marc Service Residence, Dua Residency and Binjai Residency. In the last few years, these apartments, which were sold for between RM500 and RM700 per sq ft (psf), have recorded price appreciation of between 70% and 120%. The interest in high-end luxury residences within the KLCC enclave is driven by the changing lifestyle and the strong appeal of inner city living.

(4-2-2008 The Star)