Meda Inc Berhad 70-storey serviced apartment, Sungai Besi/Chan Sow Lin

The building skyline in Sungai Besi/Chan Sow Lin is set to change with more and more sky-scrappers planning in the pipeline. Other than the 66-storey Trion KL by Binastra Land, Meda Inc Berhad has also proposed to build 70-storey serviced apartment with total 1,570-units at the site located next to SouthGate and behind CIMB Bank.

Meda Inc Berhad is a company listed on Bursa Malaysia with its core business in property development. It owned the Summit Bukit Mertajam and involved in property projects like The Arc Cyberjaya, Scott Towers at Johor Bahru and Westlake View in Sungai Siput, Perak.

However, it is to note that as at the date of writing, the Conditions Precedent of the transaction has not been fulfilled and the vendor and purchaser had on 26 July 2016 agreed to mutually extend the fulfillment of the conditions precedent period to 26 August 2016.

Developer:  BCM Holdings Sdn Bhd (company of Meda Inc Berhad)
Lot no:  Lot 5 and PT 62, Seksyen 92, Bandar Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur
Land area: 4.1806-acre
Tenure: Freehold
Change of zoning: Industrial to Commercial
Status:  Development order approved on 15 Dec 2015
1. Lot 5 and PT62 were purchased from Tan You Tiong and Yeoh Siok Choo via purchase of BCM Holdings Sdn Bhd’s shares.
2. The lands were valued at RM200mil (RM1,098 psf) by LaurelCap Sdn Bhd.
3. Part of the Conditions Precedent is to obtain Plot Ratio of 1:7.

Proposed Development:

3 blocks of serviced apartment, total 1,570 units

Block A/35 storey/522 units
Block B/62 storey/419 units
Block C/32 storey/538 units
Podium/7 storey/91 units
8 storey car park

Location Map:

Meda Inc Chan Sow Lin

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