Thursday, 27 October 2011
KL Metropolis for A World Class KL
KL Metropolis, the next mega project for the Greater KL, is officially launched! It has a GDV of RM15 billion which spreads over 75.5 acres of prime land at Dutamas, sandwiched between the Solaris Mont Kiara and Solaris Dutamas at the site of Matrade HQ. The project was gifted to Naza TTDI back in year 2009 without an open tender, just like giving out the countless APs. Naza TTDI will build the Matrade exhibition center in return.
The master plan consists of 22 office, residential and hotel towers, one landmark tower possibly reaching 100 storeys, two retail centres and an exhibition centre. It is scheduled to be completed in year 2025 in 3 phases.
Phase 1 is expected to start this year until 2015. It comprises a MATRADE exhibition center, 2 residential towers, 2 office towers, 2 hotels and a retail center with a GDV of RM6 billion. The residential towers with 300 condominium units are expected to be launched in early 2012 with a price of RM10,760 per sq meter or RM1000 per sq foot.
Phase 2 with a GDV of RM4 billion between 2015 & 2019 will add further 5 residential towers, 3 office towers, a boutique hotel, a healthcare center and a landmark tower approaching 100 storeys. Whereas phase 3 will be made up of 3 residential towers, 3 office towers and a retail center, with a GDV of RM5 billion.
KL Metropolis masterplan
US firm of Skidmore, Owings and Merrill was selected following a competition to come up with the masterplan as they were the architects behind London’s Canary Wharf , Singapore’s Marina Bay and Dubai’s Burj al-Khalifa.
The new Matrade convention centre at the KL Metropolis will triple KL’s current convention capacity as it will add about 100,000 sq meters of space upon completion in 2014. Currently KL only had 56,000 sq meters of covered convention space as compared with Guangzhou which has 260,000 sq meters, Singapore which has 250,000 sq meters and Bangkok which has 225,000 sq meters.
Matrade exhibition center
The building will be linked to the existing Menara Matrade and will have three floors to house 12 exhibition halls, which can accommodate large space exhibitions of heavy industries and advanced technology. It also will house an auditorium, which can accommodate 1,230 people, a multi-purpose hall, meeting rooms and display areas.
With the Platinum Park and this KL Metropolis project on hand, Naza TTDi should be the largest non-listed property developer in Malaysia. Will it be listed in the near future to fund those projects?