KUALA LUMPUR: A prime development land with an indicative worth of RM19.6 million within the upmarket U-Thant enclave near the Kuala Lumpur City Centre is being put up for sale via bidding exercise.
Real estate consultancy Knight Frank Ooi & Zaharin Sdn Bhd is handling the bidding process for the freehold 35,622 sq ft site which fronts Jalan Madge, and flanked by The Residences Katana on the east, and upcoming Gallery @ U-Thant on the west.
“(However) The site does not come with development order,” Knight Frank executive director Sarkunan Subramaniam told theedgeproperty.com on April 5.
The land is currently occupied by a four-bedroom two-storey detached house which was built in 1995. The property also comes with a swmimming pool.
Should the land is designated for future high-rise real estate jobs, it will have a permissible density of 60 units per acre with a height of 10 storey, according to Sarkunan.
The U-Thant enclave is renowned as a prime spot for foreign embassies and ambassadors’ homes besides expatriates and wealthy Malaysian families.
The area is named after Siddhu U Thant, a former Burmese diplomat and Secretary General of the United Nations.