RUMOURS

We keep an ear out for upcoming developments from our verified sources.

These rumours are only indications of intent from developers and therefore subject to change.

OASIA HOTEL SUITES KUALA LUMPUR (Redevelopment of Plaza Atrium)

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Far East Orchard Ltd's existing 23-storey commercial building, Plaza Atrium, on Lorong P Ramlee, is currently being redeveloped into serviced residences, with a new 34-storey tower wing.Initially, ...

Far East Orchard Ltd's existing 23-storey commercial building, Plaza Atrium, on Lorong P Ramlee, is currently being redeveloped into serviced residences, with a new 34-storey tower wing.Initially, the redeveloped office building was to have a total of 163 serviced residence units 109 units in the original building, with 54 units in the extension.But the new development is now a 247-room four-star hotel suites.The Oasia Hotel Suites Kuala Lumpur is expected to open by April 2016, targeting the middle-class traveler market on short and long-term stays. It is surrounded by other 4 and 5-star hotels, such as Shangri-La, Pacific Regency Hotel Suites, and Concorde Hotel.Plaza Atrium was designed by Datuk Ken Yeang and completed in 1984. Redevelopment plans dated back to 2005 but were put on hold in December 2006 due to the Cabinet's directive to DBKL to freeze new service apartment projects in Kuala Lumpur. This was to allow amendments to the Housing Development Act to cover service apartments built on commercial land.The current redevelopment of Plaza Atrium is undertaken by Pinehigh Development, a property investment arm of Orchard Parade Holdings Ltd, based in Singapore. It is seen as a timely move, especially with increasing oversupply in the Kuala Lumpur office market. Other cases of old office buildings that have been converted into hotels include the Wolo Bukit Bintang (formerly Wisma KLIH), Piccolo Hotel (formerly Wisma Peladang), and the upcoming Holiday Inn Express (formerly Menara ING). For regular updates on the property market, follow PropertyPricetag.com on Facebook.

KL118 TOWER (formerly known as Warisan Merdeka)

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At a total height of 682 meters, PNB's KL118 Tower is set to be among the world's top 10 tallest structures when completed by 2024.Designed by Australian architecture company Fender Katsalidis Arch...

At a total height of 682 meters, PNB's KL118 Tower is set to be among the world's top 10 tallest structures when completed by 2024.Designed by Australian architecture company Fender Katsalidis Architects, KL118 will surpass the 88-storey Petronas Twin Towers (452m) as Malaysia's tallest building.KL118 is part of a larger development complex known as Warisan Merdeka (Heritage Independence), which will feature four residential towers and a shopping mall.The whole development will take shape on a 7.6ha site located within the area of Stadium Merdeka and Stadium Negara.Out of the 100 floors up for rent, 60 have been set aside for PNB and certain subsidiaries.Another 20 have been earmarked for a 250-room international luxury hotel (possibly Park Hyatt), while 20 more have been allocated for multinational companies and Malaysian firms.The remaining 18 floors include two levels for an observation deck at the highest point of the tower at 476.7m.The net lettable office space is about 1.6 million sq feetKL118 will be connected to a mass rapid transit station.South Korea-listed Samsung C&T Corp and its local partner UEM Group Bhd has won a US$505 million (RM2.12 billion) construction job for the KL118 Tower. Samsung C&T has experience in building skyscrapers, which include the Petronas Twin Towers and the Burj Khalifa.International consultancy firm Turner International is the project manager. The company is also involved in TRX-Kuala Lumpur's future purpose-built business district. For regular updates on the property market, follow PropertyPricetag.com on Facebook.