Bukit Jalil properties will have massive demands come Q2 & Q3 of this year!!!
Keep your Covillea a few more months!!!Lai Meng school to move to Bukit Jalil come January
Posted on 6 March 2013 - 05:39am
Ee Ann Nee
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KUALA LUMPUR (March 6, 2013): The 44-year-old SJK © Lai Meng (Lai Meng Girl's School) on Jalan Ampang here will be closed down for good when the term ends in November this year as it relocates to its new 2.23ha premise at Bukit Jalil come January 2014.
Lai Meng Girl's School board chairman Ng Beh Tong said however, the current 1.05ha piece of land where the school is sited will be handed over to developer Magna Prima Bhd only when the new school premise is up and running. The new school premise is now 33% completed.
"According to contractors, the new school premise at Bukit Jalil is expected to be completed by Oct 15, 2013 and that should give us two-and-a-half months to prepare for the new school term in 2014," Ng told a press conference here yesterday.
The cost of building the new school premise is estimated at RM20 million, which will house a two-storey block for a kindergarten, a four-storey block comprising classrooms, an assembly area, an administration/auditorium and a library and a two-storey block for a canteen and multipurpose hall.
The new school premise will be twice the size of the current premise, with 12 extra classrooms and will be able to accommodate 2,000 students in one session. It targets students staying in surrounding areas such as Puchong, Kinrara and Serdang.
"Because of our limited facilities here (Jalan Ampang), we have to run morning and afternoon sessions and due to that, our students (enrollment) had dropped. Today, we have 400 students compared with 600 students last year.
"(Even) if we don't move, we will eventually have to close down the school," said Ng.
To recap, Magna Prima had secured the site in 2009 from the Lai Meng Girls' School Association for RM148 million, conditional upon the transfer of the parcel in Bukit Jalil to relocate the school.
It was reported that Lai Meng Girl's School is the third school in the city centre to be relocated to make way for redevelopment. In 2000, the Bukit Bintang Girls School was relocated to make way for the Pavilion Kuala Lumpur, while St Mary's School in Jalan Tengah/Jalan P. Ramlee was moved for the development of St Mary Residences.
Magna Prima intends to develop two 60-storey towers comprising mixed commercial and residential units on the prime land, with a gross development value (GDV) of RM1.8 billion, estimated to be completed in 2017 to 2018.
Magna Prima CEO Datuk Rahadian Mahmud Khalil said the relocation of the school will ease traffic congestion in the area.
The new location of the school is a preferred and appropriate spot as it is situated in a residential area that is convenient and safe, he said.
Meanwhile, Magna Prima executive director of finance Casey Choh said the developer is targeting a 20% growth in net profit and a 10% growth in revenue this year, mainly contributed by its Alam D'16 project in Shah Alam and the Seri Jalil project in Bukit Jalil.
"We're not into township developments, but we target strategic locations like the Lai Meng Girl's School. We also make sure that our property rates meet the market's affordability," said Choh.
The Alam D'16 project has a GDV of RM77 million and features 177 units of two-storey link houses that were completed in January. The Seri Jalil project has a GDV of RM128 million and features 107 units of houses comprising two-and-a-half-storey super-link and semi-detached homes, which is 90% completed.
Choh said for 2014, growth would be driven by its Boulevard Business Park project on Jalan Kuching here and The Istana project in Melbourne, Australia.
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http://www.thesundaily.my/sites/default/fi...72_1335_752.jpgThis post has been edited by Covillea: Mar 6 2013, 04:46 PM