Penang-based Ivory Properties is planning a mixed development in Sungai Besi, Kuala Lumpur, next to the Vyne Sungai Besi development (Gadang Land). Its unit, Ivory Times Square Sdn Bhd had signed a JV agreement with the landowner, LLK Properties Sdn Bhd, and its three directors (acting as guarantors) which gave it exclusive rights to develop the land at its own cost. LLK will be entitled to 27% of the total value of all the units of the development. This project will be Ivory’s first project in Kuala Lumpur.
The proposed development is sited on a 1.72-acre leasehold land. Consist of two blocks, Block A (32-storey) will be the office suites tower, with 88 units of office suites and 175 units of LOFT office suites. Block B is slightly shorter at 29-storey, will consist of 209 units of serviced apartment with facilities such as swimming pool, nursery, laundry, sauna, gymnasium, convenience shop and bbq area.
Ivory Properties Group was established in 1999 and has since grown into an established and reputable property developer in Penang and Northern Malaysia. Their project portfolio includes medium to high-end apartments, luxury condominiums, semi- detached and bungalows, boutique gated communities, retail & commercial lots and more. Some examples of project done by Ivory Properties include Penang Times Square, Penang World City (JV with Tropicana Corp Berhad), Moonlight Bay and Plaza Ivory near USM campus in Penang.
Developer: Ivory Times Square Sdn Bhd
Lot no: Lot 35274 – 35302, Lebuhraya Sungai Besi, Mukim Petaling, Wilayah Persekutuan Kuala Lumpur
Land area: 0.83-acre (for the 29 parcels of individual plots); development land area is 1.72-acre
Tenure: Leasehold 99-year
Type: Commercial Land
Status: Building plan approval in progress.
Serviced Apartment & Office Suites
Office suites/Level 9 – 16/88 units
Office suites (Loft)/Level 17- 32/175 units
Serviced Apartment/Level 9-29/209 units
8-level car park podium and 1 basement