PETALING JAYA (Oct 14): Metropolitan Lake Development Sdn Bhd's (MLD) 6.8-acre Keponggi Square commercial shoplot development in Kepong, comprising 73 retail outlets with an open piazza concept is 70% taken up, according to the developer's press release dated Oct 12.
MLD has held a ground-breaking ceremony to kick-start the maiden project, which is slated to complete in first quarter of 2023, the statement added.
Keponggi Square has a gross development value (GDV) of RM220 million and is the first phase of the broader 14.6-acre Metropolitan Waterfront Masterplan project located next to the Kepong Metropolitan Park. The master plan comprises an ecosystem of retail and residential components and has a GDV of RM750 million.
MLD general manager James Yam said Keponggi Square's 70% take-up rate without an official sales launch is a testament to the concept's demand. "Keponggi Square is a development driven specifically through our open piazza concept that will complement our entire shoplot development.
"We placed a lot of emphasis on landscape architecture and creating a space for the robust surrounding community. When completed, the open piazza will host exciting activities, festive and place-making events that will make Keponggi Square a landmark destination," Yam added.
According to the statement, Keponggi Square is positioned to be a holistic destination that will serve as the next up-and-coming lifestyle spot in Kepong. "The development's unique Food, Beverage & Entertainment Activity Market/Place Making (FB&E AM/PM) open piazza concept is predicated on merging an entertainment locale with the retail component to draw in crowds not only from the immediate vicinity, but also the greater Kuala Lumpur area.
"A budget of RM2 million has been allocated to sustain a two-year programme comprising open air concerts, bazaars, art exhibitions and more," it said.
Keponggi Square draws inspiration from Roponggi, a tourist destination in Tokyo, Japan, for its holistic destination with integrated and vibrant retail, entertainment and leisure spots, according to the statement.
The development will also incorporate child-friendly areas for families to sit and enjoy the shaded landscape coupled with a façade that features red sandstone finishes, it added.
MLD director Raja Hamzah Abidin said the company wanted a development that would redefine Kepong. "Keponggi Square is an open invitation for those within and outside of Kepong to join this unique community, which is quickly becoming a bustling township largely due to current and upcoming developments."
Meanwhile, the next phases of the Metropolitan Waterfront Masterplan development will include a condominium as well as affordable housing. "Being in proximity of Keponggi Square, the developments will complement each other in offering attractive and practical amenities with a beautiful lake view. The master plan will not only benefit the developments within but neighbouring ones as well, creating a unique community," the statement said.
The adjacent 250-acre Kepong Metropolitan Park has a 4km jogging path that surrounds the 140-acre Kepong Metropolitan Lake. The area is connected to the nearby Kepong Baru and Metro Prima MRT stations, the Kepong and Kepong Sentral KTM stations, and is accessible via Jalan Kuching, MRR2 and Jalan Kepong.
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