KUALA LUMPUR (June 23): Johor-based property developer KSL Holdings Bhd plans to start the construction of KSL City Mall 2, expected to be one of the largest shopping malls in Klang, by the end of 2015.
In a statement today, the company said that KSL City Mall 2, with total gross floor area of about 2 million sq ft, would be integrated with a 400-room hotel and three blocks of service apartments adjoining it.
KSL chairman Ku Hwa Seng said that the integrated development with a total gross development value of about RM2 billion would cater to the rapidly-expanding population in Klang, which stood at approximately 1.2 million in 2014.
“Developing this integrated mall and hotel not only commensurates with the economic development in Klang, but is also a natural progression for KSL after building our township of Canary Garden@Bandar Bestari in the vicinity.
“Our existing KSL City Mall and Hotel Resort in Iskandar Malaysia has been a great success with more than 90% occupancy rate in the mall. We aim to replicate this feat in the Klang Valley, which would certainly go a long way in enhancing the Group’s property investment segment in the future,” said Ku.
He explained that KSL City Mall 2 would be accessible through major highways such as the South Klang Expressway and KESAS Highway.
“Furthermore, it is also expected to benefit from the anticipated completion of Light Rail Transit Phase 3 in 2020,” he said.