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[email protected] | Aug 21, 2012

Demand for houses and real estate in Klang Valley continues despite high prices

Drawing interest: There are enquiries from developers, companies and individuals for Wisma Char Yong and adjacent plots in Jalan Ampang. The indicative price is between RM40mil and RM50mil.

Henry Butcher Marketing Sdn Bhd chief operating officer Tang Chee Meng said he had been receiving enquiries from developers from China seeking out land for development. Local interest was also very strong.

“The demand for land for development continues to be buoyant,” he said, adding that the recent sale by tender of a 28,000 sq ft piece of property in Jalan Ampang was a good indication.

On the recent tender of Wisma Char Yong and adjacent plots, he said there had been enquiries from developers, companies and individuals. Wisma Char Yong, which was formerly occupied by Citibank, is for sale together with three pieces of vacant land and three pieces of land currently occupied by pre-war shophouses near the Jalan Ampang-Jalan Munshi Abdullah junction.


The statement said some form of mixed development for the land would be most likely, with commercial, retail/F&B, residential and maybe even some hotel/service apartment elements.

“The site borders the exclusive U-Thant residential enclaveenjoying excellent frontage and accessibility along bustling Jalan Ampang. The Ampang park LRT station is nearby. One of the best things about this property is its size, which allows it to accommodate nicely a well-planned project.”

On its pricing at RM1,525 per sq ft, the statement said the guide price for the property was “in excess of RM200mil”, and this was arrived at after several valuation exercises.

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13,453 Posts
^^ This area needs 50-storey office towers.... redevelop them!

Their tenant Kuwait Finance House and Citigroup Transaction Services have moved out.

Citigroup moved to CapSquare 2 office tower with up to 9 floors. KFH is moving to Menara Prestige (Glomac Tower).
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