Developers' eyes on 2 primetracts in KL
Published: 2013/07/02
KUALA LUMPUR: The potential opening up of two prime tracts of government land here will accentuate more opportunities for property developers.
AmResearch said its checks showed that many developers have been eyeing redevelopment opportunities at Ladang Batu land within Jalan Duta for quite a while.
Another plot situated within the Kiara Park area also attracts interest.
It was reported that the two pieces of prime land are the subject of a tussle involving various parties.
In the case of the Ladang Batu land, the courts declared Semantan Heights as owner of the 101.1ha late last year, following a 53-year tussle.
AmResearch said while there may be some legal ramifications involving the two plots of land, Bukit Kiara Resorts Bhd (BKRB) appears to have a foothold on the Bukit Kiara land.
The 53.4ha within the Kiara Park area is leased to BKRB, a unit of Berjaya Land.
BKRB's application for a development order for part of the land in return for surrendering 4.8ha to the City Hall hit a snag a fortnight ago.
"While there could be many permutations involved, we understand that 32.3ha could be opened for development, including 8ha that houses government complexes marked for demolition," AmResearch said.
http://www.btimes.com.my/articles/poper/Article/
Published: 2013/07/02
KUALA LUMPUR: The potential opening up of two prime tracts of government land here will accentuate more opportunities for property developers.
AmResearch said its checks showed that many developers have been eyeing redevelopment opportunities at Ladang Batu land within Jalan Duta for quite a while.
Another plot situated within the Kiara Park area also attracts interest.
It was reported that the two pieces of prime land are the subject of a tussle involving various parties.
In the case of the Ladang Batu land, the courts declared Semantan Heights as owner of the 101.1ha late last year, following a 53-year tussle.
AmResearch said while there may be some legal ramifications involving the two plots of land, Bukit Kiara Resorts Bhd (BKRB) appears to have a foothold on the Bukit Kiara land.
The 53.4ha within the Kiara Park area is leased to BKRB, a unit of Berjaya Land.
BKRB's application for a development order for part of the land in return for surrendering 4.8ha to the City Hall hit a snag a fortnight ago.
"While there could be many permutations involved, we understand that 32.3ha could be opened for development, including 8ha that houses government complexes marked for demolition," AmResearch said.
http://www.btimes.com.my/articles/poper/Article/