Putrajaya Holdings to develop projects worth RM5.2 billion in KL

Putrajaya Holdings Sdn Bhd, the master developer of Putrajaya, plans to expand its territory into the Kuala Lumpur with the development of two new projects in Jalan Ampang with a total gross development value (GDV) of RM5.2 billion.

CEO Datuk Azlan Abdul Karim said the company had recently acquired two pieces of land in Jalan Ampang – a 3.2-hectare (ha) land on which the French Embassy was previously located, and a 0.52ha plot next to Chinese Embassy.

The company aimed to develop 429 units of high-rise serviced apartments on the 0.52ha plot, while the 3.2ha land would be developed into a mixed project, comprising commercial retail, hotel and residential, he said.

"We have submitted our proposal for approval (from Kuala Lumpur City Hall). Once we get our building plan, we can launch the project.

"The residential project will have around RM500 million to RM600 million GDV while the mixed development project's GDV will be eight times bigger," he told Bernama here today.

Azlan said Putrajaya Holdings had also acquired 640ha of freehold land in Sepang, which would be developed into an eco-type resort along the beach.

"The project is going to be an Eco Destination Township, the continuity of our trademark, Putrajaya Holdings as a Premier Green Developer.

"The first phase of the development will be a 27-hole Eco Link Golf Course supported by a number of three-to five-star hotels," he said, adding that the other developments included commercial, residential, retail and wellness centre.

The development of this project is targeted to take off in the third quarter of 2018.

On outlook, Azlan said the company's business remained strong as its hotel operations continued to perform well, with the Everly Hotel Putrajaya enjoying a 70-80 percent occupancy rate while Pullman Putrajaya Lakeside Hotel recorded a commendable 80 percent rate.

The Alamanda Mall, he said, is currently undergoing a refurbishment exercise such as expanding certain areas to enlarge the mall to accommodate a bigger crowd. -- BERNAMA