KUALA LUMPUR | Oxley Towers - SO/ Kuala Lumpur | 339m | 1111ft | 84 fl | 220m | 720ft | 52 fl | 146m | 478ft | 31 fl | U/C

07 April 2014| last updated at 12:33AM

RM3.5b Oxley Towers to transform KL skyline



By SHAREN KAUR | [email protected]



PRIME LOCATION: Developer plans 2 six-star hotels, serviced apartments, retail mall and customised offices

SINGAPORE-listed Oxley Holdings Ltd is planning a RM3.5 billion first-of-its-kind mixed-use project here called Oxley Towers.

Oxley Towers will feature two six-star hotels as well as posh serviced apartments, a niche retail mall and multimedia super corridor (MSC)-status custom-built offices, sources said.

The project is located on a 1.4ha freehold tract near the Petronas Twin Towers.

The land was acquired by Oxley for around RM450 million, or a record RM3,300 per sq ft, last November.

The project will be carried out by its subsidiary Oxley Holdings (Malaysia) Sdn Bhd, which is headed by its new chief executive officer Datuk Othman Omar.

The sources said the project has received the approval to begin development and the launch will take place in the third or fourth quarter of this year.

According to them, the gross development cost for the project will be around RM1 billion to RM1.5 billion.

The sources said Oxley Malaysia will appoint international operators from either Japan or the United States to run the mall.

For the two hotels, the company will seek international operators from the United States and the Middle East, who will operate in Malaysia for the first time, the sources added.

“Oxley Malaysia plans to retain the two hotels and mall for recurring income. But if there is a good offer from the operators, the company will not hesitate to sell,” one of the sources said.

The serviced apartments and the offices will be marketed worldwide.

Oxley Malaysia aims to sell 70 per cent of the properties to foreign buyers and the rest to locals, the source said.

The source added that the project has generated strong interest from investors in Singapore, the United States, China and the Middle East.

“The average launch price for the serviced apartments will be around RM3,000 per sq ft. The company is bullish on sales thanks to its location and unique building and development structure.

“Oxley Malaysia is talking to interested parties from the Middle East, China and the United States, to help finance the project.

“That may also include other developments in Malaysia in the future,” the sources said.

Oxley Malaysia has eight projects in Malaysia with total estimated gross development value (GDV) of RM10 billion.

Besides Oxley Towers, its other projects are in Jalan Hang Tuah here, Medini in Iskandar Malaysia, Johor, and others in Penang and Selangor.


Read more: RM3.5b Oxley Towers to transform KL skyline - Nation - New Straits Times http://www.nst.com.my/business/nati...o-transform-kl-skyline-1.555023#ixzz2yHNck1NZ

News back in August 2013

patchay said:

Loke Wan Yat sells properties
By THEAN LEE CHENG | The StarBiz | Updated: Thursday August 15, 2013 MYT 8:59:08 AM
http://www.thestar.com.my/Business/Business-News/2013/08/15/Loke-Wan-Yat-sells-properties.aspx

PETALING JAYA: The trustees of the Loke Wan Yat estate have sold a plot of land near the Petronas Twin Towers as well as properties collectively known as the Asian Heritage Row.

Loke Wan Yat Realty Sdn Bhd confirmed the sale of both but declined to give further details other than that “they were done around the same time”.

A source said that a 1.38ha freehold plot in Jalan Ampang, sandwiched between Wisma Central and a Chinese temple, was sold recently for approximately RM495.34mil or RM3,325 per sq ft.

While StarBiz has not been able to confirm the buyer of the plot, it is believed that they could be the parties involved in the development of Taipei 101, which until 2010 was considered the tallest building in the world.

The Taipei 101 project was undertaken by a consortium comprising Kumagai Gumi, Taiwan Kumagai, RSEA and Ta-Yo-Wei.


An aerial view of Lot 99, Section 58 of Kuala Lumpur. Loke Wan Yat Realty Sdn Bhd sold it at RM3,325 per sq ft in June 2013. There are six bungalows located on the 3.42 acres with Nasi Kandar Restaurant Pelita and Restaurant Chef Choi fronting Jalan Ampang.

According to industry observers, the transacted price of RM3,325 per sq ft would make the sale one of the highest in the capital to date.

Nasi Kandar Pelita, Restaurant Chef Choi and four bungalows are sited in the Jalan Ampang plot.

Property valuers consider the rectangle-shaped plot with Jalan Ampang frontage as “having triple-A rating”. Stocker Roberts & Gupta Sdn Bhd valuer Das Gupta pointed out that the property may well be the only plot available within close proximity to the Petronas Twin Towers, hence the “on the high side” transaction.

He said the over 40-year-old Wisma Central could also be redeveloped but the challenge would be to convince the owners of the apartment and retail units there to sell.


****

The sale of the Asian Heritage Row, sited in Jalan Doraisamy, comprises around a dozen properties with each measuring more than 1,000 sq ft.

A real estate consultant estimated the transacted price of each property at between RM1,000 and RM2,000 per sq ft. Henry Butcher chief operating officer Tang Chee Meng said a similar property in the neighbourhood sold for RM2.2mil recently.

Checks by StarBiz revealed the Asian Heritage Row properties were sold to William Ng, an entrepreneur and chief lessee of the properties.

He turned the once derelict row of pre-war buildings there into one of Kuala Lumpur’s most visited nightspots by establishing a collection of food and beverage outlets as well as clubs.

Ng, a philosophy graduate from the National University of Singapore, worked for Arthur Andersen for three years before pursuing an MBA at the University of Chicago. He returned to Malaysia in 1997 after 20 years abroad.

Industry observers noted that the sale of both properties, especially the Jalan Ampang plot, has created a stir in the real estate fraternity as the property market has been “pretty quiet” of late.

Beside this sale, the other high-profile deal in recent times have been the putting up for sale on a tender basis of the German ambassador’s 0.73ha residence at 16, Jalan Kia Peng, at an indicative price of about RM2,500 per sq ft or RM200mil.

Click to expand...

Oxley to launch 8 projects worth RM10b
Business TimesBy SHAREN KAUR | Business Times – Mon, Jun 23, 2014


KUALA LUMPUR: Oxley Holdings (Malaysia) Sdn Bhd may be a new kid on the block but it has eight projects worth about RM10 billion to launch over the next four to five years.

The projects, featuring condominiums, villas, office towers, hotels and retail units, are located in the Klang Valley, Iskandar Malaysia in Johor, and Penang.

Oxley Malaysia is a unit of Singapore-listed Oxley Holdings Ltd, a lifestyle property developer that builds residential, commercial and industrial properties at competitive prices.

Oxley Holdings’ strong performance in Singapore has built a sturdy foundation from which to pursue opportunities overseas.

It currently has a premier waterfront development called Royal Wharf in London, four projects in Cambodia, two in China, and now, eight in Malaysia.

The Malaysian unit was set up recently to support its pipeline of overseas projects.

The company is headed by
Datuk Othman Omar, the former general manager of PKNS (Selangor State Development Corporation).

According to Othman, the company expects to launch three to four projects in the second half of this year or early next year.

“Oxley Holdings has been successful in Singapore with the shoe box concept where it makes small units that are affordable. We will duplicate that concept here,” he said in an interview with Business Times recently.

Othman said Oxley Malaysia will be prudent with all its developments to ensure that they are integrated, have the right product mix, brand and security features.

He is bullish on prospects, given the strong brand name and reputation of Oxley Holdings.

Citing Royal Wharf, he said when Phase 1 was launched in March, both in London and Singapore, all of the 811 units were sold out within two weeks of its launch, at more than £400 (RM2,192) per sq ft.

The units comprised townhouses, three-, two- and one-bedroom apartments and studio units.

Othman said Phase 2A of Royal Wharf was scheduled to be launched last weekend.

The project is expected to receive robust interest, from end-buyers and investors, due to its strategic location, accessibility and affordable prices, he said.

“The market is soft now and developers have to change the way they do things and make their projects more appealing to buyers Buyers (now) are more educated and they look for yield,” he said.


https://my.news.yahoo.com/oxley-launch-8-projects-worth-155901231.html

Unconfirmed render of Oxley Towers


http://www.oxleymalaysia.com/