MRCB Land is planning a 78-storey skyscapper on the site formerly used as the official residence of the German Ambassador to Malaysia, at the heart of Kuala Lumpur city centre. The freehold land, measuring 1.8661-acre, is located at Jalan Kia Peng, and within walking distance to KLCC, Traders HotelMenara Exxon Mobil, Pavilion Mall and the future MRT – Conlay station. The proposed plan consists of serviced apartment, 150-room hotel, and some supporting F&B space.
The land was purchased in Apr 2015 from The Government of The Federal Republic of Germany for RM3,188 psf via open tender conducted by Rahim & Co. The land price is about 6% higher than the market value of the land based on the appraisal conducted by CH Williams Talhar & Wong and Raine & Horne International Zaki & Partners.
As the project is still in planning stage, the selling price of the serviced apartment units is still unknown. For comparison, developments in the surrounding, i.e. 8 Kia Peng by I-Berhad (under construction) is selling at RM2,300 psf and 8 Conlay by KSK Land (under construction) is selling at RM3,200 psf.
Developer: Legasi Azam Sdn Bhd (company of MRCB Land)
Lot no: Lot 94, Seksyen 58, Jalan Kia Peng, Bandar Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur
Land area: 1.8661-acre
Change of zoning: Residential to Commercial
Status: Kebenaran Merancang submitted on 29 August 2016
Note: Land purchased from The Government of The Federal Republic of Germany in for RM259,155,708 (RM3,188 psf)
Serviced Apartment & Hotel/1 Block/78-storey
LG1-LG5: Basement carpark
Gloor Floor: Grand lobby
Level 1 – 7: Car park
Level 8 & 60: Facilities deck
Level 61 – 77: F&B