News by Chin Wai Lun

According to The Edge City & Country in Dec 2021, there were plans to redevelop Plaza OUG into a 6-storey shopping complex with a mezzanine floor, a 30-storey hotel with 312 rooms and a 41-storey serviced apartment with 361 units.

According to Kuala Lumpur City Hall (DBKL) in a statement on Monday (May 23), this is due to the incident where a double-storey house was destroyed after a retaining wall at the project site shifted on Sunday (May 22). Additionally, DBKL also mentioned that the Fire and Rescue Department had ordered the occupants of six nearby houses to evacuate.

The collaboration was marked by a signing of a Memorandum of Understanding (MoU) on April 27 by Hartamas Real Estate Group founder & managing director Eric Lim and EdgeProp Malaysia managing director Alvin Ong.

The development aims to be the cultural heart and hub for the growing Batu Kawan township – marking Ikano Centres' first foray into the northern region. Ikano Centres is a part of Ikano Retail, which owns the IKEA furniture stores in five countries and shopping centres anchored by IKEA.

Lee’s focal areas include OUG, Taman Yarl, Happy Garden and Old Klang Road landed residential properties. She says OUG is a friendly neighbourhood. While consisting of mostly senior citizens, she has noticed a slight change in demographics over the years. 

The Asia-Pacific Prime Office Rental Index for 1Q2022 increased 0.8% quarter-on-quarter (q-o-q), after rising by 0.3% in the preceding quarter – indicating a sustained economic recovery from 4Q2021. This is despite a turbulent first quarter of the year with multiple resurgences of Covid-19 in several markets, accelerating inflation and the Russian invasion of Ukraine weighing down market sentiments, said Knight Frank.

Nevertheless, Depp is also known for his interesting real estate holdings, which include an island in the Bahamas, according to TopTenRealEstateDeals.com. During the years with former partner French singer-actress Vanessa Paradis, Depp purchased an entire French village which was recently on the market at US$55.5 million (RM240.65 million).

The deal, totalling RM136 million, will finance the Phase 1 of the J. Satine development in Setapak, Kuala Lumpur, which comprises 2,068 units of affordable residential apartments under the Residensi Wilayah Keluarga Malaysia programme.

Concurring with the findings of the report, CBRE|WTW chairman Foo Gee Jen noted the reopening of international borders on Apr 1 this year will provide a positive outlook for the tourism sector and drive the market to slowly regain its momentum. 

With the Power Station opening to the public this September, the completion of Prospect Place marks a major milestone that reflects the significant progress made on the site.