Singapore listed regional property developer GSH Corp Ltd will jointly develop 1,889 units of serviced apartment in Chinatown, Kuala Lumpur with Tradewinds Corp in a 50:50 JV. GSH Corp Ltd has inked an agreement with Tradewinds Corp Bhd to acquire a 50 per cent stake in Aspirasi Kukuh Sdn Bhd, which will be the SPV/development company for the project in Feb 2018.
The land, identified as Lot 50, is located at Jalan Balai Polis, Kuala Lumpur and opposite Traffic Police Station. The size of the site is about 3.46-acre and its tenure is 99-year leasehold. It is well connected by various modes of transportation, such as the mass rapid transit (Pasar Seni station ― just 100 metres away), light rail transit (Pasar Seni or Masjid Jamek stations), KTM Komuter (Kuala Lumpur station) and the Monorail (Maharajalela station).
The Jalan Petaling project will be GSH’s second residential project in Kuala Lumpur after the successful launch of Eaton Residences at Jalan Kia Peng. Since the launch in 2016, almost all of Eaton Residences’ 632 units, exluding units allocated for Bumiputera buyers, have been fully sold.
Developer: Aspirasi Kukuh Sdn Bhd (50-50 JV of GSH and Tradewinds Corp)
Lot no: Lot 50, Jalan Balai Polis, Seksyen 26, Wilayah Persekutuan Kuala Lumpur
Land area: 3.46-acre
Tenure: Leasehold 99-year
Serviced Apartment/69-storey/1889 units