daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > City/Metro Compilations

City/Metro Compilations Help report active highrise/urban developments occurring in your city to the global SSC community.



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old May 29th, 2008, 12:24 PM   #1081
Cerulean
Registered User
 
Join Date: Nov 2007
Location: Taman
Posts: 343
Likes (Received): 128

Sunrise to redevelop Wisma Angkasa Raya
The Star, Wednesday May 28, 2008
By ANGIE NG

PETALING JAYA: Sunrise Bhd is believed to be acquiring Wisma Angkasa Raya, located opposite the Petronas Twin Towers in Kuala Lumpur City Centre (KLCC), for redevelopment into an upmarket commercial project.

In a filing with Bursa Malaysia on Monday, the property developer said it had entered into an agreement with Reliance Pillar Sdn Bhd and Lembaran Segimaju Sdn Bhd to acquire Tanah Tuah Development Sdn Bhd for RM57.4mil.

Sunrise will pay RM27mil in cash and make a RM30.4mil shareholders' advance to Tanah Tuah. It has paid a deposit of RM5mil. According to the announcement, Tanah Tuah has registrable interest in a piece of freehold land within the KLCC.

“Tanah Tuah represents a good investment as the property that is being acquired by Tanah Tuah has potential to be redeveloped into an upmarket commercial development, which will further strengthen the group's presence in a prime location,” Sunrise said in the statement. Tanah Tuah had in January agreed to buy the 1.6-acre land from the original owner for RM152mil but the agreement has yet to be concluded.

Sunrise said it had taken the necessary legal measures to safeguard its interest in the event the company's agreement with the vendors was completed before the completion of the accord between Tanah Tuah and the original owner.

Wisma Angkasa Raya, which is around 29 years old, is Kuala Lumpur’s first high-rise office building. The unencumbered property is a 24-storey commercial building comprising a 20-storey office tower and a four-storey podium with two basement carparks. It has a total net lettable area of 167,728 sq ft and an occupancy rate of 96.4%.

Aseambankers research analyst Ong Chee Ting said that assuming Tanah Tuah had taken a 100% debt funding for the purchase, Sunrise’s RM27mil cash payment to the vendors would have raised its acquisition cost to RM179mil, or RM2,588 per sq ft.

“Even at RM2,588 per sq ft, it is considered a fair price. Assuming that KL City Hall grants Sunrise a 10 times plot ratio for redevelopment, similar to the upcoming Menara YNH in Jalan Sultan Ismail, the price per plot ratio works out to RM259 per sq ft.

“Adding RM500 per sq ft per plot ratio for the construction of an upmarket development and factoring in an efficiency ratio of 80%, the total construction cost comes to about RM1,000 per sq ft per net saleable area,” Ong said.

Given that KL City Hall has raised the plot ratio for commercial development to nine to 10 times now compared with Wisma Angkasa Raya's three times, Ong said the redevelopment could yield a gross development value of at least RM900mil.

“If Sunrise’s new property can be sold above RM1,300 per sq ft, there's still a 30% margin to be made. This translates to a development profit of RM208mil,” he said.

Ong said the risk for the redevelopment plan was a possible oversupply of new office space in Kuala Lumpur by 2010, although this risk is “mitigated by the property’s prime location''.
Cerulean no está en línea   Reply With Quote

Sponsored Links
Old June 1st, 2008, 01:41 PM   #1082
Riverofmoltensteel
Registered User
 
Riverofmoltensteel's Avatar
 
Join Date: Feb 2008
Location: Kuala Lumpur
Posts: 140
Likes (Received): 0

Any news on the other "Lots"?
__________________
There is a troll watching you.
Riverofmoltensteel no está en línea   Reply With Quote
Old June 2nd, 2008, 11:31 AM   #1083
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

Wisma Angkasa Raya

nazrey no está en línea   Reply With Quote
Old June 2nd, 2008, 11:32 AM   #1084
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

Office Space Tower:
by WhiteChicken



@ Mid Valley City : The largest integrated development comprising residential, office, retail and hotels in Malaysia

Target date of completion
THE GARDENS SOUTH TOWER -1st Quarter of 2008
THE GARDENS NORTH TOWER -2nd Quarter of 2008

The Gardens South Tower



The Gardens North Tower



My photos
Office Tower



nazrey no está en línea   Reply With Quote
Old June 2nd, 2008, 03:35 PM   #1085
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

Menara Worldwide
______ Jalan Bukit Bintang



by rizalhakim



image hosted on flickr
nazrey no está en línea   Reply With Quote
Old June 2nd, 2008, 05:14 PM   #1086
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

NEW PROJECT:
PUBLIC MUTUAL TOWER
Jalan Raja Chulan
by rizalhakim











nazrey no está en línea   Reply With Quote
Old June 2nd, 2008, 05:19 PM   #1087
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

40-storey Hotel/Office Tower
Jalan Conlay



by rizalhakim





Note : Jalan Means Road
nazrey no está en línea   Reply With Quote
Old June 2nd, 2008, 05:28 PM   #1088
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

Redevelopment of St Mary’s school site by E&O and Lion Group



by spOt_ON

image hosted on flickr
nazrey no está en línea   Reply With Quote
Old June 2nd, 2008, 05:37 PM   #1089
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

CIMB Bank Tower
Jalan Raja Laut



My photos







nazrey no está en línea   Reply With Quote
Old June 2nd, 2008, 05:49 PM   #1090
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

PJ Trade Centre





Update:

nazrey no está en línea   Reply With Quote
Old June 3rd, 2008, 04:58 AM   #1091
Cerulean
Registered User
 
Join Date: Nov 2007
Location: Taman
Posts: 343
Likes (Received): 128

Putrajaya Perdana wins RM113mil job
The Star, Tuesday June 3, 2008

KUALA LUMPUR: Putrajaya Perdana Bhd has won a contract worth RM113.69mil from BR Property Holdings Sdn Bhd for a project to extend an existing office and shopping complex in Jalan Maarof in Taman Bukit Bandaraya here.

The project, which is due for completion by Sept 2, 2009, is expected to contribute positively to the earnings and net assets of the group for the financial year ended Dec 31, 2008 and Dec 31, 2009,'' Putrajaya Perdana said in a filing with Bursa Malaysia yesterday.

In a separate filing Crest Builder Holdings Bhd said it had bagged a RM165.9mil job awarded by Panareno Sdn Bhd to construct a serviced apartment in Bukit Damansara, Kuala Lumpur.

It said the contract period was 25 months from the date of site possession, expected to be in the second half of this year.
Cerulean no está en línea   Reply With Quote
Old June 3rd, 2008, 06:04 AM   #1092
pedang
One Malaysia
 
pedang's Avatar
 
Join Date: Dec 2005
Location: Lembah Klang
Posts: 3,028
Likes (Received): 83

new project



Quote:
Originally Posted by rizalhakim View Post
Proposal for Solaris Tower II - Jalan Cendana, KL
location - somewhere in cendana...u can see the cendana in 2nd and 3rd pict..i belif its located in the carpark next to the cendana..
3 blocks 20 to 40 storey...





__________________
MALAYSIA
pedang no está en línea   Reply With Quote
Old June 3rd, 2008, 08:23 AM   #1093
pedang
One Malaysia
 
pedang's Avatar
 
Join Date: Dec 2005
Location: Lembah Klang
Posts: 3,028
Likes (Received): 83

OneKL

pics by rizalhakim





__________________
MALAYSIA
pedang no está en línea   Reply With Quote
Old June 4th, 2008, 03:58 PM   #1094
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

Solaris Dutamas



by James Foong
Solaris Dutamas 2nd Phase:



Completed shopoffices 1st Phase:

nazrey no está en línea   Reply With Quote
Old June 4th, 2008, 03:59 PM   #1095
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

MK MERIDIN



nazrey no está en línea   Reply With Quote
Old June 5th, 2008, 07:47 AM   #1096
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

GoldIS Tower
Jalan Tun Razak



nazrey no está en línea   Reply With Quote
Old June 6th, 2008, 07:41 AM   #1097
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

Ceriaan Kiara





nazrey no está en línea   Reply With Quote
Old June 7th, 2008, 08:30 PM   #1098
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

10-storey govt. office block:
by James Foong

nazrey no está en línea   Reply With Quote
Old June 7th, 2008, 08:31 PM   #1099
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

Suruhanjaya Tenaga bldg:
by James Foong

nazrey no está en línea   Reply With Quote
Old June 7th, 2008, 08:31 PM   #1100
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 90,838
Likes (Received): 10720

17-storey commercial tower:
by James Foong



nazrey no está en línea   Reply With Quote


Reply

Tags
kuala lumpur, petaling jaya

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 11:24 PM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu