Hua Yang acquires KL city centre land for RM32m

KUALA LUMPUR: Hua Yang Bhd has acquired 1.55-acres of land within the Desa Pandan Commercial Centre in Kuala Lumpur city centre for RM32 million, just minutes from the proposed Kuala Lumpur International Financial District and Jalan Tun Razak.

According to a statement by the developer on Wednesday, May 11, the leasehold tract is just opposite the Royal Selangor Golf Club.

The developer, with about RM1.2 billion worth of completed projects, has plans for a mixed serviced apartment and commercial centre with an estimated gross development value of RM160 million. There will be studio units as well as 1 and 2-bedroom apartments.

Hua Yang CEO Ho Wen Yan said: "This is part of our overall group strategy to expand our operations in the Klang Valley, with our developments in Sungai Besi, Selayang and now, Kuala Lumpur city centre.

"We are looking at a modern lifestyle concept for the project with club facilities and amenities — suitable for city dwellers who enjoy the sights and sounds of the city."

Ho further said the company’s strategy is to develop vertical communities, in the form of high-rise apartments, complete with a retail space for the convenience of residents for its developments in the Klang Valley.