KUALA LUMPUR: KSK Group Bhd is estimating RM1.8 billion in gross development cost for its maiden mixed-use Conlay 8 project in Jalan Conlay.
KSK Land Sdn Bhd managing director Joanne Kua said the company is currently waiting for the development order to be approved by Kuala Lumpur City Hall.
“We will start to call for tenders in the first quarter of 2015,” she told reporters at a briefing on the project yesterday.
The project with a gross development value of RM4 billion on a 1.6ha site will be developed by KSK Land and will feature three towers and a 200,000 sq ft retail podium.
The tallest tower has 60 storeys and will house a five-star hotel and serviced apartments.
The other two towers, with 50 and 55 storeys each, will comprise luxury condominiums.
The construction of the Conlay project is expected to commence by year-end and the first phase of the serviced apartments is slated to be launched in the first quarter of 2015 and completed by 2020.
The group is also in talks for a collaboration with a five-star overseas hotel operator, but they have yet to decide, Kua said.
KSK Group is looking to acquire more land in Penang and the Klang Valley as well as abroad in central London, she said.
This article first appeared in The Edge Financial Daily, on May 29, 2014.