SkyWorld, DBKL to upgrade road infrastructure at SkyArena, Setapak

KUALA LUMPUR (Oct 24): SkyWorld Development Sdn Bhd and Kuala Lumpur City Hall (DBKL) will be upgrading the road infrastructure leading to and from the SkyArena integrated development in Setapak, Kuala Lumpur and the surrounding areas.

The works include the construction of a new 1km flyover from Jalan Genting Kelang to Jalan Ayer Jerneh and the widening of Jalan Ayer Jerneh trunk road into a 100ft, four-lane carriageway. The flyover will be built by DBKL while Skyworld will contribute RM30 million to the road widening work.

"On our part, the 100ft four-lane carriageway will cost us about RM30 million and is expected to be completed in the beginning of 2019," said SkyWorld founder and group managing director Datuk Ng Thien Phing. He was speaking to reporters after the topping-off ceremony of Ascenda Residence, the first phase of SkyArena, today.

"With the upgrading and expansion plan, this will definitely improve traffic flow and provide the Setapak community easier access to the DUKE (Duta-Ulu Kelang Expressway) highway," said DBKL executive director of planning, Datuk Mohd Najib who was also present at the topping-off ceremony.

Ascenda Residence offers 650 units of serviced apartments ranging from 903 sq ft to 1,470 sq ft of which 95% has been taken-up since its launch in 2014. SkyArena is a 28-acre integrated development with a total gross development value of RM2.5 billion.

Meanwhile, the developer is also set to launch the second phase of SkyArena called Tower A of Bennington Residences, on Nov 5.

Tower A of Bennington Residences comprises 296 units with built-ups ranging from 1,092 sq ft to 1,761 sq ft and priced from RM600 psf onwards.

The first phase of Bennington Residences launched early this year and saw a 95% take-up rate.

Ng added that the group will be launching some 4,000 affordable homes in a development called SkyAwani 3 to be located near Sentul. The date of the launch has yet to be decided.

Bernama reported that SkyWorld has urged the government to extend the new end-financing scheme for the 1Malaysia People's Housing Programme houses to include the Federal Territory Affordable Housing Project.    

Ng said this would greatly assist help first-time house buyers here. SkyWorld is one of the developers for RumaWIP.

On the property market, Ng said it will be a challenging year ahead.

"There are uncertainties in the market, but we may see the market recovering in 2018," said Ng.