#Latest* Encouraging response to KLCC Kia Peng land

KUALA LUMPUR: The two tracts for sale in the Kuala Lumpur City Centre (KLCC) Kia Peng area (pictured) have attracted the interest of more than a dozen developers and negotiations are believed to be ongoing for one of the two plots.

One of the tracts – 1.167-acre with leasehold tenure and exclusively marketed by Zerin Properties at RM1,800 psf – has received at least 12 enquiries from developers, based both in and beyond the Klang Valley.

Zerin Properties group CEO and founder Previn Singhe told theedgeproperty.com that most of the enquiries received had come from developers based outside the Klang Valley.

“There is a definite interest for the land, and we are seeing developers from all over Malaysia enquiring about it. About five of the enquiries received, I believe, are serious ones. We are very happy with the response so far,” added Previn who hoped to close the deal within the next two months.

The 1.167-acre tract belongs to a local family and two vacant bungalows are currently located on it. Kuala Lumpur City Hall has zoned it as a mixed residential development, but Previn said there was also the possibility for commercial development.

Meanwhile, sources said the other tract on the market belongs to I-Bhd. It is freehold, sized at 0.75 acres and has a building on it.

It is believed that negotiations for the land, being marketed at RM2,150 psf, are ongoing with a serious buyer. The land comes with a development order for a luxurious condominium development.

According to a filing with Bursa Malaysia early last year, I-Bhd had announced the relocation of its office from Jalan Changkat Kia Peng to i-City in Shah Alam, Selangor.