Architects: Kohn Pedersen Fox
Official Height = 171.3 M
Floor Count: 30

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Mulpha Land plans four new high-end projects
14 Jul 2008 By S.C. CHEAH

Schemes in KL have total GDV of RM500mil

MULPHA Land Bhd will be launching four new high-end projects in Kuala Lumpur over the next two years with a total gross development value (GDV) of RM500mil.

They include three residential projects in Ampang, Bangsar, and Bukit Tunku and an office tower in Jalan Sultan Ismail.

Mulpha International Bhd executive chairman Lee Seng Huang said the very high-end Bukit Tunku development on 2.5-acre freehold land, would have bungalows priced around RM15mil each.

“We will build only eight bungalows of 10,000 sq ft to 12,000 sq ft built-up area. We plan to launch the project in the fourth quarter of this year or next year. It will be a special product. We have not given it a name yet as we want to get everything right first,” Lee told StarBiz.

As for the Bangsar project (opposite Tivoli Villas), he said only seven units of three-storey bungalows priced at RM9mil to RM10mil would be built in the gated and guarded community.

It will have a lot size of 7,576 sq ft to 8,012 sq ft and built-up area from 8,510 sq ft to 9,588 sq ft.

“This is about S$4mil which probably can’t buy you a penthouse in Singapore. Malaysian property is relatively cheaper than other countries,” he said, adding that each bungalow would have a unique design.

The 1.54-acre freehold, gated and guarded development with a Green Architecture Concept, is located at Jalan Medang Tanduk in Bangsar. The main commercial centre of Bangsar Baru, Bangsar Village and Bangsar Shopping Complex are within 500 metres radius.

Features will include open Garden Spine with water features, individual lap pool with koi pond, and private glass lift for each unit with four to six car parking bays.

Each bungalow will also have a solar heater, jacuzzi, water filter, AV room, WiFi, chauffeur’s room, workshop and a garden yard/roof storage areas among others.

Another upmarket development is the Raintree Residence, opposite the Raintree Club at Jalan Wickham in the diplomatic enclave of Ampang Hilir and U-Thant. Kuala Lumpur City Centre is about 3km away.

It will have 12 units: four units of five bedroom duplex penthouses (3,691 sq ft) priced at RM4.4mil each or RM1,200 psf, and eight units of four-bedroom apartments (2,000sq ft) priced at RM2mil each or RM1,000 psf.

Each unit comes with a Raintree Club membership.

Lifts will open to the private foyer of each unit that will be fully fitted with interior built-ins and selected electrical appliances. Standard units are given two parking bays each while penthouses get four bays each.

Facilities include a swimming pool, two security guardhouses, gymnasium and two lifts serving each unit.

Lee said the project, to be launched soon, would target people who did not want to live in a big house after their children had grown up and moved elsewhere.

Mulpha will also build a Class “A” Green office building called 12 Jalan Sultan Ismail. The 23-storey building with four basement-parking levels has a lettable area of about 270,000 sq ft. It fronts Jalan Sultan Ismail and also Lorong Perak (opposite Shangri-La Hotel).

Lee said the land, bought in 1996 for about RM1,000 psf, had probably doubled in value now. The GDV is RM350mil.

“We are holding it for rental income. Renowned New York architects Kohn Pedersen Fox who designed the Shanghai World Financial Centre, The Pinnacle in Britain, and Roppongi Hills Mori Tower in Tokyo is the designer. It will be the first Kohn Pedersen Fox building in Malaysia,” he said, adding that there was still good demand for quality office space in Kuala Lumpur

Lee, who spends most of his time abroad to seek out the “vast opportunity overseas” said Malaysia faced stiff competition from other countries and needed to do things faster with less red-tape.

Although he shares the same concern with other industry players over rising fuel prices, Lee believes that Mulpha’s products would be able to sell as they are very niche and the company is resilient.

On its 474ha award-winning Sanctuary Cove on Queensland’s Gold Coast, Lee said sales had been very good and the whole area was one of the fastest growing in the region.

He said there were still 600 to 700 bungalow lots to sell. Some of the lots would be sold with houses.

“We have not started on the apartments. There is a village with a community centre. The hotel zone will take at least another 10 years to develop,” he added. Sanctuary Cove achieved A$80mil (about RM250mil) sales last year.

Mulpha Land Bhd is the property arm of the Mulpha group and is listed on the second board of Bursa Malaysia. Its flagship Leisure Farm Resort in Johor has won many property awards including two FIABCI Malaysian Chapter awards.

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Mulpha to keep seeking new acquisitions
Monday June 9, 2008 By LEONG HUNG YEE

MULPHA International Bhd will continue to seek strategic acquisitions, said executive chairman Lee Seng Huang.

“We have always been looking for opportunities but good deals with good prices are hard to come by these days; nevertheless, we will continue to look out for opportunities when the deal is right and aligned with the group’s strategic direction,” Lee told StarBiz in an interview.

Mulpha International was among the companies that were considering bidding for Australia’s Centro Properties Group earlier this year. Centro Properties, one of Australia’s biggest casualties of the global credit crunch, owns 700 shopping malls in the US.

Lee said Mulpha International did consider bidding for Centro Properties initially but decided not to proceed with it. However, he did not to disclose details.

Last November, Mulpha International acquired a “sizeable” coalmine in China through its subsidiary Greenfield Chemical Holdings Ltd. Greenfield is involved in the manufacture and sale of industrial paints in Hong Kong and China.

“This is a strategic diversification to increase our competitiveness and focus on the natural resources industry,” Lee said, adding that the acquisition was expected to be completed in the third quarter of this year.

Mulpha International, which has interests in businesses ranging from hotels to property development and financial services, has businesses in Hong Kong, Vietnam, Australia and China. The group’s overseas operations contribute about 70% to the group’s profit.

Mulpha International is the largest Malaysian real estate investor and developer in Australia.

The group owns a number of assets in Australia, including the InterContinental Hotel in Sydney, Hilton Melbourne Airport Hotel, Hayman Island Resort and Hyatt Regency Sanctuary Cove in Queensland.

On the local front, Lee said the group had embarked on three new high-end developments – bungalows on 2.5 acres in Bukit Tunku and 1.5 acres in Bangsar, and Grade A office-tower in Jalan Sultan Ismail designed by the world-renowned New York architecture firm Kohn Pederson Fox.

“All these projects are expected to be launched in the third quarter of this year,” he said.

Apart from acquiring businesses, Mulpha International is also scouting for pieces of land that are of good size, price and location to build its brand momentum in the local property industry.

The group is also seeking development opportunities in countries where it already has a presence and in other markets such as Singapore.

To a question, Lee said the group had no plans to set up a real estate investment trust at present; it would only do so when it had more high yielding assets.

“The priorities for the group for this year are to further strengthen our assets base, achieve good profit and launch the new projects,” he said, adding that the group planned to spend about RM170mil in capital expenditure this year.

Update:
by rizalhakim

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http://c2.ac-images.myspacecdn.com/images02/17/l_45ffdf89f9fe4003a456a09abd82c5bd.png

look at this.. actullay its not 23 fl :cheers:

http://img29.picoodle.com/img/img29/4/7/29/f_20060912130m_0fdacc3.jpg

Location

http://img27.picoodle.com/img/img27/4/7/29/f_20060912130m_b65c11e.jpg

UPDATE:
The site

http://farm3.static.flickr.com/2197/2787574122_2d50b03033_o.jpg

http://img19.picoodle.com/img/img19/3/11/26/f_08m_3d4b4b3.jpg

Official Height = 171.3 M
Floor count = 30

:)

look at this.. actullay its not 23 fl :cheers:

http://img29.picoodle.com/img/img29/4/7/29/f_20060912130m_0fdacc3.jpg

Thanks pedang! :)

by davidphoto13

http://farm4.static.flickr.com/3037/3060261845_5a7cf4a69c_b.jpg

by Alt-Woz

http://farm4.static.flickr.com/3007/3060280860_5c5433a89f_b.jpg

muy bonita la torre

by Loeffle

http://farm4.static.flickr.com/3294/3150962303_80f35a330f_b.jpg

http://img37.picoodle.com/img/img37/3/1/8/f_01m_c89973f.jpg

by tardigrad9

http://farm4.static.flickr.com/3264/3207553814_d141b2198b_b.jpg

by Blue moon in her eyes

http://farm4.static.flickr.com/3334/3210626570_6440aba3ac_b.jpg

by * Hazman Zie *

http://farm4.static.flickr.com/3428/3211324864_9bd564f06c_b.jpg

by jet5031

http://farm4.static.flickr.com/3413/3219483540_c8a5c5af75_b.jpg

Architect: New York architects Kohn Pederson Fox (KPF)

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http://static.worldarchitecturenews.com/news_images/10911_5_sultan5big.jpg

The site

http://www.picamatic.com/show/2009/03/01/09/12/2524281_800x534.JPG

by toralux
http://flickr.com/photos/toralux/3329959065/

http://farm4.static.flickr.com/3559/3329959065_54e220eede_b.jpg

by s.o.f.t.

http://farm4.static.flickr.com/3625/3373225843_d6a7b8f20d_o.jpg

From http://www.veritas.com.my

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The Project has been revised to 58 fl Vortex Tower (Tentative Name) by new developer.

Land has been cleared / Prep

November 2012

Boundary fencing poles installation in progress

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Boundary fencing poles installation in progress

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December 2012

http://farm9.staticflickr.com/8360/8329879438_ecd00f2367_b.jpg (http://www.flickr.com/photos/91701163@N02/8329879438/)
DSC_2230 (http://www.flickr.com/photos/91701163@N02/8329879438/) by archilover2 (http://www.flickr.com/people/91701163@N02/), on Flickr

Vortex may be appearing soon in KL

The grapevine has it that its 58 levels will feature units indicatively priced from RM1,100psf or RM385,000
Friday, February 15, 2013 - 18:43
by Andrew Wong
mulpha
IMPENDING REALITY?: Artist’s impression of the 29-storey Mulpha tower by Kohn Pederson Fox that was to have taken shape on the site. CA+’s version is slated to be 23 storeys higher.
IT is not the whirlwind it sounds like – indeed, some 15 months after a 31,516sq ft tract of land along Jalan Sultan Ismail in Kuala Lumpur was bought for the development of a highrise serviced apartment there called Vortex, its developer is still only toying with the idea of unveiling it. Perhaps in mid-2013; perhaps next year; vaguely said its marketing staff.

Yet, because of the site’s position opposite KL’s Shangri-La Hotel and the anticipated concept and pricing, any gust of news regarding the project has the tendency to send shivers of excitement.

The latest that’s blowing through the grapevine is that in the Vortex’s proposed 58 levels will be three different types of units: Studios of 350sq ft, onebedroom suites of 500sq ft and two-bedroom apartments of 800sq ft. More attractive, though, is the indicative pricing from RM1,100psf or from RM385,000, which will be about a third of the RM3,000psf mark that the proposed Four Seasons Place located less than 1.5km away adjacent to KL City Centre is pegging its units at.

To be developed by a company under the Penang-based CA+ Associates (CA+) group, the Vortex’s site currently landmarked by the Beach Club Café was seen undergoing soil testing in August 2012.

CA+ bought the site from Mulpha International Bhd in late 2011 for RM104 million or RM3,300psf – a premium price as the land came with an approved development order that would enable construction to be fast-tracked.

According to past reports, Mulpha had intended to build its 29-storey Grade A headquarters with about 270,000sq ft of space on the site, and had even engaged famed New York architectural practice Kohn Pederson Fox to design the tower.



soil
INITIAL STAGE: Soil testing was conducted in 2012
However analysts have said CA+’s offer of RM3,300psf is over 33% more than the average going price for prime land in KL’s Golden Triangle area at that time, which made it too tempting for Mulpha to decline.

Other land parcels in the area that have been sold include: The 1.59-acre Wisma Angkasa Raya site along Jalan Ampang to Sunrise Bhd in 2008 for RM2,588psf;

The 2.62-acre Lai Meng school site also along Jalan Ampang to Magna Prima Bhd in 2009 for an estimated RM2,000psf (the sale involved an outright sum of RM148 million plus the construction of an educational complex on 5.5 acres of land worth RM10.7 million); and

The 5.4 acres currently accommodating Chulan Square and Sri Melayu Restaurant near the Pavilion KL shopping mall along Jalan Bukit Bintang to Jerantas Sdn Bhd for RM1,800psf, which will become the seven-star Harrods Hotel.

CA+ is making a name for itself in building highrises on prime land in KL’s Golden Triangle and selling them at prices below prevailing market values, which have caused other developers to scratch their heads and investors to stay alert for signs of an impending CA+ launch.

Other projects the group has undertaken include the Oval @ KLCC condominium off Jalan Binjai, Vipod Suites along Jalan Kia Peng, Quadro Residences next to the KLCC park and Soho Suites @ KLCC along Jalan Perak, all pegged from less than RM1,000psf.

More: http://www.mmail.com.my/story/vortex-may-be-appearing-soon-kl-47691