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Old June 11th, 2007, 08:08 AM   #1
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KUALA LUMPUR | KL Sentral | U/C

BizFocus:
More than a transport hub

By Sharen Kaur
April 24 2007
BusinessTimes


Quote:
The RM8.3 billion KL Sentral project, which includes massive commercial developments, is set to spur Malaysia’s property and tourism sectors
CHAN Chee Meng remembers how hard it was to convince businesses to open at KL Sentral six years ago. He was responsible for the development of a transport hub that would also double up as a massive commercial development.

Investors were not prepared to make the move. It is located in Brickfields, famous for quarters of the national railway staff, a stark contrast to its up-scale neighbour Bangsar.

"It was difficult to convince business people to open shops at the main building at Stesen Sentral when it was launched in 2001 as many thought they would not prosper due to the location and lack of infrastructure," Chan, CEO of Kuala Lumpur Sentral Sdn Bhd (KLSSB) said.

But it is different today.

The main building at Stesen Sentral is now fully occupied and bursting at the seams with shops, allowing travellers and shoppers to buy goods ranging from shoes to luxury items.

Brickfields has also changed drastically.

There are new pedestrian walkways, old buildings repainted, roads upgraded, shops being transformed and more quality retailers and budget hotels moving in, spicing up the area.

Property prices have also shot up.

"Since the landmark of Brickfields has changed, many business people are flocking to the area to have a presence at KL Sentral while prices of neighbouring properties such as shoplots, shophouses, offices, serviced apartments and condominiums, have shot up by three times," Chan added.

History has proven that KL Sentral is a good idea. However, like many large projects during the late nineties, it had to contend with the Asian financial crisis.

KLSSB's parent, Malaysian Resources Corp Bhd (MRCB), had more than RM800 million in short-term debt and it made a net loss in 2001. This is hardly the position that a firm wants to be in when it's supposed to develop a multi-billion-ringgit project.

Chan admitted that financing was the main problem and the project only took shape starting 2004 because investors' confidence started to build up.

"In terms of development, the early start was difficult but now we are in a stronger position as we have refinanced our existing bonds with a new sukuk (Islamic bond)," he said.

The project also got another boost when pension fund the Employees Provident Fund, an investor with deep pockets, became MRCB's new major shareholder.

Today, about RM1.8 billion or 27 per cent of the project has been completed. There are some RM2 billion worth of projects or 29 per cent of the entire development that is being carried out currently.

Apart from Stesen Sentral, the other completed components include Plaza Sentral Phase 1 in 2001, three blocks of corporate office towers that made total sales of RM254 million, and Plaza Sentral Phase 2.

This consists of office suites that was done in 2006.

The Suasana Sentral condominium, completed in 2002, fetched a total revenue of RM249 million, while five-star Hilton Kuala Lumpur and Le Meridien Kuala Lumpur opened their doors for business in 2004.

MRCB, meanwhile, has completed building a purpose-built 30-storey corporate office tower for Lembaga Tabung Haji for RM161.46 million, early this year.

"The estimated RM8.3 billion KL Sentral project is now undertaking one of the largest commercial developments, which are estimated to generate over RM2 billion in GDV," Chan said.

He said the commercial development comprises of the Suasana Sentral Condominiums with a total of 600 units and four blocks of office buildings to house the headquarters of UEM Group, Malaysian Industrial Development Authority (Mida), Suruhanjaya Syarikat Malaysia (SSM) and the Quill group.

It would also have a lifestyle centre, known as Sooke Sentral, which includes a fitness, spa and business centre, restaurants and alfresco dining facilities.

Additionally, a massive RM450 million retail development comprising a mall, which will be linked with Stesen Sentral through the KL Monorail, is also being built now.

The commercial and retail developments are due to be completed by late 2008 or early 2009.

And after all of that, KL Sentral will still have about 13 hectares of land for future developments. These include a massive commercial centre and entertainment and media hub.


KLSSB is also in the midst of building an immigration centre, a one-stop investment approval centre, for foreign investors.

Chan, however, refuted claims that the project was doing well as it was getting a lot of support from government-owned companies and agencies.

He said government bodies like Mida and SSM came in as they saw the huge potential at KL Sentral.

"Properties around transportation hubs have always generated good values around the world. People like staying next to infrastructure.

"It just so happens that we have government agencies that want to be here such as Mida and SSM as they see great potential here, where they can estimate the kind of customers they would get, thanks to the infrastructure," he said.

Apart from being the heart of the country's transportation hub, the KL Sentral project would be a catalyst to the country's property and tourism sectors, which would indirectly boost the economy further.

"We have shared our success story with countries like Singapore, Indonesia, Malawi, India, Nepal and some countries in the Middle East, which do not have such a massive infrastructure development similar to KL Sentral. The KL Sentral concept is still new in South-East Asia," Chan said.

In fact, MRCB has pitched to replicate the concept of the project in other Malaysian cities and abroad.

In developed countries, there are integrated hubs similar to KL Sentral such as IFC in Hong Kong, Shinjuku in Japan, Canary Wharf in London and Atlantic Station in the US.
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Old June 11th, 2007, 08:12 AM   #2
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Quote:
About 1.8 billion or 27 per cent of the KL Sentral project has been completed
Brickfields enjoys spillover effects
OVER the last eight years, the profile of Brickfields has slowly developed, according to international property consultant C H Williams Talhar & Wong Sdn Bhd senior executive director P’ng Soo Theng. “There has been hardly any land in Brickfields for further development and improvement the lastseveral years. The image of Brickfields was built on efforts to develop the RM8 billion integrated KL Sentral transport and commercial hub located just opposite,” P’ng said. He said Brickfields will be further enhanced when the three million sq ft of commercial properties, currently under construction at KL Sentral, is completed by 2010.

About 19 million sq ft was approved by the Government for thedevelopment of KL Sentral. So far, 4.5 million sq ft of commercial and residential projects have been completed. A further 11.5 million sq ft of land will be utilised for future developments. P'ng told Business Times that Brickfields will enjoy the spillover effects of KL Sentral, which is expected to be completed by 2016, boosting property prices further. In fact, prices of properties in Brickfields have been rising since the integrated commercial hub started in 1997, he added.

A model of the integrated KL Sentral
New model!


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Old June 11th, 2007, 08:13 AM   #3
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Old June 11th, 2007, 08:20 AM   #4
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Sooka Sentral
Sooka Sentral will thrive within all that is HEALTH, BEAUTY AND DINING COMBINED

The heart of the development is the iconic Lifestyle Centre to enhance the rhythm, senses and flavours that celebrate life. It is a modern sanctuary that caters to health and fitness, beauty and self-indulgence.

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Old June 11th, 2007, 08:30 AM   #5
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by travellator



by TWK90

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Old June 11th, 2007, 08:32 AM   #6
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suasana sentral loft
Suasana Sentral Loft, the second phase of 600 condominiums within the Kuala Lumpur Sentral (KL Sentral) development, has registered a 70% take-up rate, mostly from brokers and foreigners, especially Singaporeans.

The RM350 million project is being developed by Suasana Sentral Two Sdn Bhd. United Malayan Land Bhd (UM Land) holds a 70% stake in the joint-venture company and Malaysian Resources Corporation Bhd (MRCB) 30%.

UM Land group chief executive officer Wan Abdullah Wan Ibrahim said of the 420 units taken up, about 70% of them were brokers while foreigners accounted for 15%. He expects the remaining 180 units to be sold by the middle of this year.

Wan Abdullah was speaking to reporters at a media briefing on Suasana Sentral Loft on Feb 21. Also present was UM Land’s vice president, operations Alan Koh.

Koh said the project was scheduled to be completed by 2008. With the completion of other commercial developments within KL Sentral, he projected a short supply of residential units.

“We strongly believe that Suasana Sentral Loft is another investment that will reap good rental returns for investors seeking for attractive yields up to 10%,” he said.

The Loft is the last residential freehold land in KL Sentral, a transport hub that sees a 40,000-passenger traffic per day.

The 600 freehold units range from 811 sq ft to 2,961 square feet and are priced between RM350,000 and RM 1.60 million.

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Old June 11th, 2007, 08:36 AM   #7
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progress
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by ntly1





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Old June 11th, 2007, 08:40 AM   #8
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Sentral One
Located at the North-western corner of the KL Sentral development in Kuala Lumpur, Lot N enjoys exceptional visibility within the dense KL Sentral development. The open corner location at the junction of Jalan Bangsar and Travers gives the building prominent visibility from the main thoroughfare of Jalan Travers. Unlike the other planned office blocks in KL Sentral which are lined up in a row, the proposed 30-storey building shall stand out on its own against the backdrop of lower blocks of the Plaza Sentral offices. The building design is a play of clean, unfettered lines that create a distinctive visual impression and a universal abstract aesthetic free from period or regional styles.

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Old June 11th, 2007, 08:41 AM   #9
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by travellator



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Old June 11th, 2007, 08:44 AM   #10
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29-Storey MRCB/UEM Corporate HQ KL-Sentral

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Old June 11th, 2007, 08:48 AM   #11
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Old June 11th, 2007, 08:51 AM   #12
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MRCB-UEM Corporate HQ/sooka sentral//Sentral One/suasana sentral loft
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Old June 11th, 2007, 09:18 AM   #13
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night view
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Old June 11th, 2007, 09:26 AM   #14
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Lot J

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Old June 11th, 2007, 09:29 AM   #15
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Old June 11th, 2007, 09:30 AM   #16
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Lot G

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Old June 11th, 2007, 09:33 AM   #17
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Old June 11th, 2007, 11:23 AM   #18
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The KL Sentral Initial Masterplan
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THE KUALA LUMPUR DEVELOPMENTS COMPILATION (LATEST: SEP'2014) >>> PAGE 1 >>> PAGE 2 (Suburb)

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Old June 11th, 2007, 11:49 AM   #19
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KL SENTRAL

Red: Coming Soon
Green: Fully Completed
Blue: Under-construction


OFFICE ZONES

Office zones in KL Sentral account for more than 50% of the total land. The developer aims that KL Sentral will ultimately be the business and financial hub of Kuala Lumpur.

Lot A-D have been proposed to be developed as financial precincts of KL Sentral. This is a future development as there is no development at the area yet.

Lot F is planned for future office block. Currently, the base is used for a furniture exhibition mall and Food and Beverage (F&B) centre.

Lot J is a proposed development lot for four 35-storey office towers of identical architecture. A six-storey clubhouse will also be built within the precinct. This clubhouse will house a cafe, health and fitness club, specific retail outlets, gymnasium, bowling alley and daycare centre.

Lot M or Plaza Sentral is a completed office complex in the west of KL Sentral. The complex were completed in two stages.

-Phase I was completed in June 2001, comprising three blocks and total gross floor area of 1,635,525 sq ft. Its take-up rate is reaching 100%.

-Phase II comprises two towers - 18-storey and 26-storey - made up of four blocks and a total gross floor area of 879,381 sq ft.

Lot N, Sentral One is a site for a 30-storey office tower, offering a gross floor area of 453,000 sq. feet. Lot N is owned by Tabung Haji, and it may be the future PricewaterhouseCoopers Malaysia HQ.


ENTERTAINMENT ZONE

Lot E will be a hub for entertainment and covention centre in making KL Sentral an entertainment hub of Kuala Lumpur. The deck of the this development has been completed.

Lot G, located in the south of KL Sentral will consist of 1,200,000 sq ft shopping complex, 600,000 sq ft office block, 500,000 sq ft serviced apartments, and a 546,000 sq ft three-star hotel. The Integrated Centre, as it will be called, will offer an integrated connection with the KL Monorail Sentral station. This parcel is owned by UDA Holdings.


TRANSPORTATION

Lot H, Stesen Sentral (English: Central Station) is designated to be the transportation hub within its KL Sentral development project. Stesen Sentral will be able to accommodate 50 million passengers a year and up to 100 million by 2020 (KL Sentral website).

Located within Stesen Sentral, the KL City Air Terminal (KL CAT) is virtually an extension of the Kuala Lumpur International Airport. It has the high-speed rail service to Kuala Lumpur International Airport (KLIA). It is recognised by the International Air Transport Association (IATA) as a city destination, with the code XKL.


HOTELS

Lot I consists of two hotels skyscrapers occupied by Hilton Kuala Lumpur & Le Méridien KL, owned by Daito Asia Development Sdn. Bhd. and Daisho Asia Development Sdn. Bhd. respectively. The completed 5-star hotels have 934 rooms.


RESIDENTIAL

Lot K is the location of a serviced appartment, Suasana Sentral. Suasana Sentral consists of two blocks, or 400 units, of exclusive and luxurious apartments.

Lot L is an extension of of Lot K and will house two blocks of condominiums comprising a total of 600 units.
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THE KUALA LUMPUR DEVELOPMENTS COMPILATION (LATEST: SEP'2014) >>> PAGE 1 >>> PAGE 2 (Suburb)

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Last edited by patchay; June 11th, 2007 at 12:20 PM.
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Old June 11th, 2007, 12:41 PM   #20
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progress..

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just took it this morning before heading back to bintulu

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